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Recent Articles
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Adobe's Fiscal Fourth Quarter Outlook Comes Up Short of Expectations
Sep 13, 2024
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Image: Adobe’s shares traded down on a weaker than expected fiscal fourth quarter outlook.
Though Adobe’s outlook for the fiscal fourth quarter came up short, we continue to like its net-cash-rich balance sheet and strong free cash flow generation. We’re already quite tech heavy in the simulated newsletter portfolios, so we won’t be considering Adobe for inclusion, but the company is worth watching closely, especially as shares dip following its fiscal third quarter report. The high end of our fair value estimate range stands north of $660 per share.
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Dividend Increases/Decreases for the Week of September 13
Sep 13, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Kroger Raises Identical Sales Growth Outlook
Sep 12, 2024
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Image: Kroger’s shares have been choppy during the past couple years.
Looking to fiscal 2024, Kroger reaffirmed its guidance for adjusted FIFO operating profit in the range of $4.6-$4.8 billion, adjusted net earnings per diluted share in the range of $4.30-$4.50, and adjusted free cash flow of $2.5-$2.7 billion. It updated its identical sales growth without fuel forecast to 0.75%-1.75% for the year, which is up from the prior range of 0.25%-1.75%. Kroger continues to work toward closing its merger with Albertsons, the completion of which remains uncertain given criticism from the FTC. Our fair value estimate for Kroger stands at $55 per share.
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Medtronic Raises Fiscal 2025 Guidance
Sep 11, 2024
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Image Source: Medtronic.
Medtronic raised its fiscal 2025 organic growth guidance to the range of 4.5%-5% versus the prior range of 4%-5%, and it also raised its fiscal 2025 diluted non-GAAP earnings per share guidance in the range of $5.42-$5.50 versus the prior range of $5.40-$5.50, implying growth of 4%-6%. Medtronic is taking advantage of healthy underlying markets and “new product innovation is fueling diversified growth across many health tech growth markets.” The company continues to invest in its “future innovation pipeline to drive growth” in the longer run. The high end of our fair value estimate range stands north of $100 per share.
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