3 Stocks to Watch on Wednesday: Hancock Holding Company (HBHC), Interactive Brokers Group, Inc. (IBKR) and Lam Research Corporation (LRCX)

HBHC earnings missed the mark, IBKR EPS rose 85% and LRCX revenue rose 34.4%

By Karl Utermohlen, InvestorPlace Writer

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It was a strong Tuesday for U.S. equities as analysts forecast a 17.3% first-quarter earnings entering into earnings season. The S&P 500 Index surged 1.1%, the Dow Jones Industrial Average gained 0.9% and the Nasdaq Composite was up 1.7% by day’s end.

3 Stocks to Watch on Wednesday: Hancock Holding Company (HBHC), Interactive Brokers Group, Inc. (IBKR) and Lam Research Corporation (LRCX)Several companies reported on their quarterly results late Tuesday, including Hancock Holding Company (NASDAQ:HBHC), Interactive Brokers Group, Inc. (NASDAQ:IBKR) and Lam Research Corporation (NASDAQ:LRCX).

Here’s how they did:

Hancock Holding Company (HBHC)

Hancock announced its latest quarterly results late Tuesday.

The company unveiled net income of $72.5 million for its first quarter, or 83 cents per common diluted share, topping the quarter-ago total of $55.4 million, or 64 cents per share. In the year-ago quarter, the company earned $49 million, or 57 cents per share.

Analysts were calling for earnings of 88 cents per share.

Hancock also posted revenue of $209.63 million, which was below the Wall Street consensus estimate for the quarter of $279.69 million.

The company’s first quarter included $7 million in expenses linked with the sale of Harrison Finance Company, a pending Capital One trust and asset management transaction, a brand consolidation project and a one-time all-hands bonus.

HBHC stock was trading flat after the bell.

Interactive Brokers Group, Inc. (IBKR)

Interactive Brokers Group shares were higher on the company’s latest results.

The company’s earnings surged 85% compared to the year-ago quarter to 63 cents per share on an adjusted basis. The figure was well ahead of analysts’ expectations of 56 cents per share, according to Zacks Investment Research.

Interactive Brokers Group also impressed on the revenue front as it brought in $527 million in sales, marking a 41% gain compared to the year-ago quarter. Wall Street was calling for revenue of $478 million, according to the Zacks consensus estimate.

In January, the company increased interest rates on margin loans above $3 million from 1.67% to 1.72%, with the purpose to check loan growth. Margin loans outstanding could surpass $30 billion.

IBKR stock surged 0.8% after hours Tuesday.

Lam Research Corporation (LRCX)

Lam Research also experienced growth in its latest quarterly report, but shares declined.

The company said that its bottom line for its first quarter of fiscal 2018 came in at $778.8 million, or $4.33 per share, topping the year-ago total of $574.7 million in net income, or $3.10 per share.

Lam Research posted adjusted earnings of $851.8 million, or $4.79 per share. Its revenue was strong at $2.89 billion, growing about 34.4% from the year-ago total of $2.15 billion.

For its second quarter of fiscal 2018, Lam Research predicts that earnings will come in at around $4.57 to $4.97 per share for a median earnings guidance of $4.77 per share. Revenue is slated to be between $2.85 billion and $3.15 billion.

LRCX fell about 6.9% after the bell Tuesday.

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/2018/04/3-stocks-watch-wednesday-hancock-holding-company-hbhc-interactive-brokers-group-inc-ibkr-lam-research-corporation-lrcx/.

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