3 Stocks to Watch on Friday: Glacier Bancorp, Inc. (GBCI), Rogers Communications Inc. (USA) (RCI) and Atlassian Corporation PLC (TEAM)

GBCI net income up $7M, RCI profit topped expectations and TEAM falls despite earnings beat

U.S. equities closed lower on Thursday as the 10-year Treasury rates surpassed 2.9%. The S&P 500 Index fell 0.6% by day’s end, while the Dow Jones Industrial Average declined 0.3% and the Nasdaq Composite was down 0.8%.

3 Stocks to Watch on Friday: Glacier Bancorp, Inc. (GBCI), Rogers Communications Inc. (USA) (RCI) and Atlassian Corporation PLC (TEAM)Several companies reported on their latest quarterly earnings results after the bell Thursday, including Glacier Bancorp, Inc. (NASDAQ:GBCI), Rogers Communications Inc. (USA) (NYSE:RCI) and Atlassian Corporation PLC (NASDAQ:TEAM).

Here’s how they did:

Glacier Bancorp, Inc. (GBCI)

Glacier Bancorp announced its latest quarterly earnings results late Thursday.

The company unveiled net income of $38.6 million on its first quarter, marking an increase of 23%, or $7.3 million, compared to the year-ago quarterly net income of $31.3 million. Pre-tax income was $47 million for the quarter, surging $5.9 million, or 15% compared to the year-ago quarterly total of $41 million.

Glacier Bancorp added that its diluted earnings for the quarter were 48 cents per share, gaining 17% from the year-ago total of 41 cents per share. The bank added that its organic loan growth was $110.2 million, or 7% annualized.

The company topped the $10 billion mark in total assets at the end of the quarter, reaching $11.66 billion. The figure was an increase of more than $1.95 billion, marking 20% growth compared to the year-ago quarter.

GBCI stock was trading flat after the bell.

Rogers Communications Inc. (USA) (RCI)

Rogers Communications also had a strong quarter that beat analysts’ guidance.

The company said that for its first quarter, net income came in at C$425 million ($335.5 million), or C80 cents per share (63.15 cents per share), topping the year-ago total of C$310 million ($244.71 million), or C60 cents per share (47.36 cents per share).

On an adjusted basis, the company earned C90 cents per share (71.05 cents per share), above the Wall Street consensus estimate of C75 cents per share (59.20 cents per share), according to Thomson Reuters.

Rogers Communications added that its revenue totaled C$3.63 million ($2.87 million), a 7.7% increase compared to the year-ago quarter. The company’s improvement came as it signed up more wireless postpaid and internet customers.

Rogers Communications is the largest wireless company in Canada by market share and it added 95,000 net postpaid wireless subscribers in the quarter, up 35,000 from the year-ago quarter.

RCI shares slipped 0.3% after hours Thursday.

Atlassian Corporation PLC (TEAM)

Atlassian shares were sinking late yesterday despite the company’s earnings beat.

The company said that its third quarter yielded net losses of $14.3 million, or 6 cents per share, below the year-ago loss of $17.5 million, or 41 cents per share. Adjusted earnings came in at 10 cents per share.

Analysts were calling for Atlassian to bring in adjusted earnings of 8 cents per share, according to data compiled by FactSet. Revenue came in at $223.7 million, rising from the $159.9 million from the year-ago quarter and beating the Wall Street consensus estimate of $218 million, per FactSet.

For its fourth quarter, analysts calling for adjusted earnings of 14 cents per share on revenue of $232.3 million. Atlassian is projecting adjusted earnings of 12 cents per share for its fourth quarter, as well as sales in the range of $232 million to $234 million.

For its fiscal 2018, the company is slated to bring in revenue of $862 million to $864 million, ahead of the Wall Street outlook of $857.4 million.

TEAM shares plummeted 10.1% after Thursday’s market close.

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


Article printed from InvestorPlace Media, https://investorplace.com/2018/04/3-stocks-watch-friday-glacier-bancorp-inc-gbci-rogers-communications-inc-usa-rci-atlassian-corporation-plc-team/.

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