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7 Earnings Reports to Watch Next Week

earnings reports - 7 Earnings Reports to Watch Next Week

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Editor’s Note: This article is regularly updated to bring you relevant, up-to-date information.

Earnings season rolls on and, so far, results from multiple earnings reports have been exceptionally strong. Companies large and small have reported earnings beats, while big tech companies such as Apple (NASDAQ:APPL) and Amazon (NASDAQ:AMZN) reported blowout numbers. And the positive results have come despite the fact that the global economy is only now starting to emerge from the novel coronavirus pandemic.

Overall, we’re getting to the end of first-quarter earnings season. And there are still several notable companies scheduled to report next week, many of which serve as bellwethers for their respective industries or the broader economy.

Thus, in this article, we’re looking at seven important companies expected to release earnings reports next week. They are:

  • Riot Blockchain (NASDAQ:RIOT)
  • Walmart (NYSE:WMT)
  • Home Depot (NYSE:HD)
  • Baidu (NASDAQ:BIDU)
  • L Brands (NYSE:LB)
  • Petco Health (NASDAQ:WOOF)
  • Deere & Co. (NYSE:DE)

Now, let’s dive in and take a closer look at each one.

Earnings Reports to Watch: Riot Blockchain (RIOT)

futuristic image of a hand with the words block chain floating above it. representing riot blockchain stocks

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Earnings Report Date: Monday, May 17

How good was the first-quarter rally in cryptocurrencies for Riot Blockchain? We’ll find out on when the company reports its earnings on Monday.

The Castle Rock, Colorado-based company that is focused on Bitcoin (CCC:BTC-USD) mining is intimately tied to the fortunes of cryptocurrencies. RIOT stock tends to move in tandem with the price of Bitcoin. And it has been a rocky ride in 2021. After peaking at $79.50 per share on Feb. 17, Riot Blockchain’s stock price has slumped 66% and is now trading at $26. The decline has come as investors have rotated out of Bitcoin in favor of other cryptocurrencies such as Dogecoin (CCC:DOGE-USD) and Ethereum (CCC:ETH-USD).

In terms of the company’s first-quarter earnings, analysts forecast that Riot Blockchain will report a profit of 20 cents per share, which would represents a year-over-year (YOY) rise of 266.7%. Additionally, revenues are expected to come in at $24.3 million, up 916.7% from the year-ago quarter.

Overall, any beat on those expectations could help RIOT stock to recover and move higher. A miss and the share price could fall below $20. However, analysts clearly are anticipating that the boom this year in cryptocurrencies, and Bitcoin specifically, will translate into positive results for Riot Blockchain.

Walmart (WMT)

Image of Walmart (WMT) logo on Walmart store with clear blue sky in the background

Source: Jonathan Weiss / Shutterstock.com

Earnings Report Date: Tuesday, May 18, before market open

The world’s largest retail chain reports its latest earnings on Tuesday, and they will serve as a indicator for how the entire retail sector is performing — as well as the broader economy.

The Bentonville, Arkansas-based company has weathered the global pandemic well as the majority of its nearly 11,000 stores and clubs remained open over the past year and it ramped up its online and digital sales capabilities. The success has helped to keep WMT stock aloft despite the recent market turmoil. In fact, since March 4, Walmart’s share price has risen 9.4% to $139.50. Analysts forecast more gains ahead, with a median price target on the stock of $159.41, suggesting another 14% of potential growth.

For its upcoming earnings, Walmart has set the bar high — and expectations are that the company will report quarterly revenue of $132.09 billion and earnings per share (EPS) of $1.21. While those are big and impressive numbers, it would actually be a decline from last year should Walmart meet those expectations.

However, with the global pandemic receding and the U.S. economy firing on all cylinders, it would not be a surprise if Walmart reported better-than-expected earnings for the first quarter. The company has dedicated $14 billion in the current fiscal year to increase productivity, enhance its supply chain capacity and improve the customer experience.

Earnings Reports to Watch: Home Depot (HD)

Home Depot (HD) storefront on a sunny day

Source: Jonathan Weiss / Shutterstock.com

Earnings Report Date: Tuesday, May 18, before market open

Also reporting first-quarter earnings on Tuesday is fellow retail juggernaut Home Depot.

The Atlanta, Georgia-based chain of home improvement stores is expected to report earnings of $2.99 per share, which would represent YOY growth of 44% compared to EPS of $2.08 in the first quarter of 2020. Analysts also forecast that Home Depot will report revenue of $34.2 billion for the first quarter, which would represent 21% annual growth.

Like Walmart, Home Depot has thrived during the pandemic. As people sheltered-in-place at home, they took on one home improvement project after another — which helped to boost Home Depot’s sales.

Collectively, HD stock has also outperformed and done particularly well over the past two months as investors moved funds from technology growth stocks and into cyclical stocks such as Home Depot that perform best when the economy is strong. Since March 4th, Home Depot stock has risen 28.5% to more than $322 per share. That said, an earnings beat could propel the stock even higher.

Baidu (BIDU)

A Baidu (BIDU) sign outside a company office in Shenzhen, China.

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Earnings Report Date: Tuesday, May 18, before market open

May 18 also brings earnings from Chinese tech giant Baidu. The Beijing-based company that specializes in Internet-related services and artificial intelligence is expected to report strong results. Analysts anticipate revenues of $4.16 billion, which would amount to YOY growth of 30.5%. Also, EPS have been forecast at $1.44, which would be 15.2% higher than the first-quarter of 2020. Moreover, it’s worth noting that Baidu has exceeded the expectations of analysts in each of last four quarters, delivering an average earnings beat of 57%.

With all of that in mind, strong earnings would no doubt be welcomed by Baidu shareholders. They have had to watch as BIDU stock has fallen 45% since mid-February to its current level of just above $185 per share.

The slump has been attributed to ongoing political tensions between China and the U.S., a crackdown on technology companies by the Chinese government, and a questionable foray into the manufacturing of electric vehicles. But whatever the reasons for the decline, a strong earnings performance could provide Baidu’s share price with a desperately needed turnaround.

Earnings Reports to Watch: L Brands (LB)

a Victoria's Secret store in a shopping mall

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Earnings Report Date: Wednesday, May 19, after market close

On Wednesday, we’ll get earnings from fashion retailer L Brands — and it should be an interesting one.

The Columbus, Ohio-based company that is best known for its Victoria’s Secret and Bath & Body Works brands is another company that has consistently outperformed the market. Year-to-date (YTD), LB stock is up 86% at $69.25 per share. The stock’s trajectory has been almost straight up since January as robust online sales offset the closure of its retail outlets during the pandemic.

While the company recently announced plans to spin-off the Victoria’s Secret business, the move appears to have been taken in stride by investors. And analysts expect strong results when L Brands reports earnings next week. This includes EPS of 98 cents, which would represent a YOY increase of 199%. Revenues are forecast to come in at $2.9 billion, which would be a 75.3% increase from a year ago.

Overall, anything above analysts’ expectations would be icing on the cake for LB stock.

Petco Health (WOOF)

The front of a Petco (WOOF) store in Los Angeles, California.

Source: Walter Cicchetti / Shutterstock.com

Earnings Report Date: Thursday, May 20, before market open

Thursday will bring us earnings from animal health and supply retailer Petco Health. The San Antonio, Texas-based company has done well during the pandemic as people spent more time at home with their beloved pets, and did not hold back when it came to spoiling them with treats, toys and grooming products.

The company, which went public on Jan. 14 of this year, saw its stock get a boost recently after it announced a new “Petco Pay” credit card that’s offered through Mastercard (NYSE:MA) and can be used just about anywhere.

WOOF stock has performed reasonably well since its initial public offering (IPO), up 16% since early March at $24 per share. For its latest quarterly results, analysts are expecting the company to report EPS of 9 cents. As the company has only been publicly traded for a few months, analyst coverage of Petco remains thin. However, the company did beat analyst expectations in its last earnings report (its first since going public). The company reported a narrow loss in the previous quarter but said its revenue grew 16% from the previous year to $1.3 billion.

Moreover, Petco also forecast that its full-year 2021 revenue will rise as much as 9% as people splurge on the pets they bought during the pandemic. And that could be a great thing for WOOF stock.

Earnings Reports to Watch: Deere & Co. (DE)

a green John Deere tractor

Source: mark stephens photography / Shutterstock.com

Earnings Report Date: Friday, May 21, before market open

Another bellwether stock is Deere & Co., which is scheduled to report its first-quarter earnings next Friday.

The Moline, Illinois-based manufacturer of agriculture, construction and forestry machinery, as well as diesel engines, serves as a litmus test for the U.S. industrial sector. The widely known John Deere brand is a marquee cyclical stock that performs best when the U.S. economy is humming. YTD, DE stock has increased 42% as investors bet on it as a key reopening play.

For next week’s earnings, analysts expect big things from Deere & Co. This after the company posted much stronger-than-expected earnings this past February and boosted its forward guidance. Deere & Co. said its earnings for the three months ended in January, the company’s fiscal first quarter, came in at $3.87 per share, up 137% from a year earlier and well ahead of the consensus forecast of $2.14 per share. Looking ahead, Deere has forecast 2021 net income of between $4.6 billion and $5 billion.

The question heading into May 21, is can Deere & Co. meet the high expectations that it has set for itself. Meanwhile, analysts expect EPS of $4.51 for the quarter.

On the date of publication, Joel Baglole held long positions in APPL, BIDU and DE.

Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.


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