3 Stocks to Watch on Friday: Arista Networks Inc (ANET), Consolidated Edison, Inc. (ED) and Digital Realty Trust, Inc. (DLR)

ANET earnings up 42%, ED profit top estimates, DLR revenue $2.1M above guidance

U.S. equities were rising again on Thursday as bonds were trading heavily and crude oil moved higher. The S&P 500 Index and Dow Jones Industrial Average gained 1.2% apiece, while the Nasdaq Composite surged 1.6% by day’s end.

3 Stocks to Watch on Friday: Arista Networks Inc (ANET), Consolidated Edison, Inc. (ED) and Digital Realty Trust, Inc. (DLR)Thursday’s after-hours news included earnings reports from Arista Networks Inc (NYSE:ANET), Consolidated Edison, Inc. (NYSE:ED) and Digital Realty Trust, Inc. (NYSE:DLR).

Here’s how these stocks performed late in the day:

Arista Networks Inc (ANET)

Arista Networks shares plummeted despite the company’s earnings beat.

The cloud networking solutions provider posted fourth-quarter net income of $103.8 million, or $1.29 per share, while adjusted earnings came in at $1.71 per share. Analysts were calling for adjusted earnings of $1.41 per share.

Revenue for the period came in at $467.9 million for Arista Networks, which was a 42% improvement compared to the year-ago quarter. The Wall Street consensus estimate predicted revenue of $458.67 million.

For its full year, the cloud company announced adjusted earnings of $5.61 per share, ahead of the $5.32 per share that analysts were expecting. Revenue rose 45.8% year-over-year to $1.6 billion, better than the Wall Street guidance of $1.64 billion.

For its first quarter of fiscal 2018, Arista Networks sees revenue as being around $468 million, topping analysts’ outlook of $457.9 million.

ANET shares were sinking more than 15.5% after hours Thursday.

Consolidated Edison, Inc. (ED)

Consolidated Edison had better-than-expected results in its latest quarter.

The energy services company announced a fourth-quarter bottom line of $247 million, or about 80 cents per share. In the year-ago quarter, Con Edison earned $211 million, or 69 cents per share.

The figure came in ahead of the earnings that analysts were calling for of 77 cents per share, according to data compiled by Thomson Reuters. The figure excludes special items.

Revenue was a strong point for Con Edison as well as the company brought in about $2.96 billion for its fourth quarter of fiscal 2017, a 9.2% gain from the $2.71 billion it raked in a year ago.

The company also increased its fiscal 2018 earnings guidance to now be in the range of $4.15 to $4.35 per share on an adjusted basis, with the midpoint being $4.25 per share. Analysts polled by Thomson Reuters predict adjusted earnings of $4.26 per share.

ED stock was trading flat after hours.

Digital Realty Trust, Inc. (DLR)

Digital Realty Trust posted revenue that came in ahead of the mark yesterday.

The real estate investment trust posted fourth-quarter revenue of $731.4 million, which came in ahead of expectations as seven analysts polled by Zacks Investment Research were calling for revenue of $729.3 million.

Net income for the period tallied up to $53.3 million, or 26 cents per share. Meanwhile, Digital Realty Trust’s funds from operations was $33.3 million, or $1.55 per share, ahead of the mark.

Analysts polled by Zacks were calling for funds from operations of about $1.52 per share. The figure is an important one in the REIT industry as it measures net income and adds back metrics such as depreciation and amortization.

For the full year, Digital Realty Trust announced funds from operations of $1.1 billion, or $6.14 per share, while revenue came in at $2.46 billion for its fiscal 2017.

The company forecasts full-year funds from operations to be in the range of $6.45 to $6.60 per share, while revenue is slated to arrive in the range of $3 billion to $3.2 billion.

DLR stock was trading flat after Thursday’s market close.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/02/3-stocks-watch-friday-arista-networks-inc-anet-consolidated-edison-inc-ed-digital-realty-trust-inc-dlr/.

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