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Atlanta, Georgia-based Rollins, Inc. provides pest and wildlife control services to residential and commercial customers in the United States and internationally. Commanding a market cap of $24.9 billion, Rollins offers pest control services to residential properties, protecting from common pests, including rodents, insects, and wildlife.
Companies worth $10 billion or more are generally described as "large-cap stocks," Rollins fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the consumer discretionary sector.
Rollins touched its all-time high of $51.90 on Sept. 17 before slightly pulling back. ROL has gained 1% over the past three months, lagging behind iShares US Consumer Discretionary ETF’s 5.6% gains during the same time frame.
Over the longer time frame, Rollins has substantially outperformed IYC. ROL gained 31.5% over the past 52 weeks and 15.1% in 2024, outpacing IYC’s 22.2% gains over the past year and 12.8% returns on a YTD basis.
To confirm the bullish trend, ROL has consistently traded above its 200-day moving average since mid-November 2023 and mostly above its 50-day moving average since late October 2023 with some fluctuations.
Despite reporting impressive Q2 earnings, shares of Rollins dipped 6.5% after its earnings release on Jul. 24. The company reported a robust 8.7% year-over-year revenue growth to $891.9 million. Its net income grew by 17.5%, totaling $129.4 million. The company also saw a 1.1% net margin expansion to 14.5%. However, the company saw a 1.6% decline in operating cash flows, falling to $145.2 million, and a 3% decline in free cash flow, falling to $136.4 million, which might have raised concerns among the investors.
Rollins’ competitor, Rentokil Initial plc , has underperformed ROL over the past year. RTO declined 34.5% over the past year and 15.4% in 2024.
Among the nine analysts covering the ROL stock, the consensus rating is a “Moderate Buy.” Although ROL is trading above its mean price target of $49.75, the Street-high target of $54 represents a potential upside of 7.5% from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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Photo by Lutsenko_Oleksandr on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, but the index remained in the “Fear” zone on Wednesday.
U.S. stocks settled higher on Wednesday, following the release of inflation data. U.S. annual inflation rate eased for a fifth straight month to 2.5% in August from 2.9% in the previous month, and down from market estimates of 2.6%.
Shares of NVIDIA Corporation gained around 8.2%, while Advanced Micro Devices, Inc. shares added around 4.9% during the session. Shares of Rentokil Initial plc dipped 21% after the company revised the guidance for the second half of FY24.
Most sectors on the S&P 500 closed on a positive note, with communication services, information technology and consumer discretionary stocks recording the biggest gains on Wednesday. However, energy and consumer staples stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 125 points to 40,861.71 on Wednesday. The S&P 500 rose 1.07% to 5,554.13, while the Nasdaq Composite jumped 2.17% at 17,395.53 during Wednesday's session.
Investors are awaiting earnings results from The Kroger Co. , Signet Jewelers Limited and Adobe Inc. today.
What is CNN Business Fear & Greed Index?
At a current reading of 43.1, the index remained in the “Fear” zone on Wednesday, versus a prior reading of 38.5.
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The S&P 500 Index Wednesday closed up by +1.07%, the Dow Jones Industrials Index closed up by +0.31%, and the Nasdaq 100 Index closed up by +2.17%.
Stocks on Wednesday recovered from early losses and settled higher, with the Nasdaq 100 climbing to a 1-week high. Strength in chip stocks on Wednesday led to gains in technology stocks and powered the overall market higher.
Wednesday’s as-expected US consumer price report initially weighed on stocks after the Aug US core CPI was unchanged from July at +3.2% y/y, well above the Fed’s +2.0% target. The stickiness of core prices boosted T-note yields and knocked the chances of a 50 bp rate cut at next week’s FOMC meeting down to 14% from 50% after the release of last Friday’s US payroll report.
US MBA mortgage applications rose +1.4% in the week ended September 6, with the purchase mortgage sub-index up +1.8% and the refinancing mortgage sub-index up +0.9%. The average 30-year fixed rate mortgage fell -14 bp to a 19-month low of 6.29% from 6.43% in the prior week.
US Aug CPI eased to +2.5% y/y from +2.9% y/y in July, right on expectations and the smallest increase in 3-1/2 years. However, Aug CPI ex-food and energy was unchanged from July at +3.2% y/y, right on expectations.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 14% for a -50 bp rate cut at that meeting.
Overseas stock markets Wednesday settled mixed. The Euro Stoxx 50 closed up +0.35%. China's Shanghai Composite fell to a 7-month low and closed down -0.82%. Japan's Nikkei Stock 225 closed down by -1.49%.
Interest Rates
December 10-year T-notes (ZNZ24) Wednesday closed down by -4 ticks. The 10-year T-note yield rose +1.1 bp to 3.653%. Dec T-notes Wednesday fell back from a 15-month high, and the 10-year T-note yield rebounded from a 15-month low of 3.603%. T-notes retreated after the US Aug core CPI rose +3.2% y/y, right on expectations but well above the Fed’s 2.0% price target. The core CPI report knocked the chances of a 50 bp rate cut at next week’s FOMC meeting down to 14% from 50% last Friday. The recovery in stocks on Wednesday also curbed safe-haven demand for T-notes.
T-notes Wednesday initially moved higher on carryover support from a rally in European government bonds as 10-year German bunds and 10-year UK gilts climbed to 5-week highs. T-notes also found support on strong demand for the Treasury’s $39 billion auction of reopened 10-year T-notes that had a bid-to-cover ratio of 2.64, well above the 10-auction average of 2.50.
European government bond yields on Wednesday moved lower. The 10-year German bund yield fell to a 5-week low of 2.085% and finished down -1.9 bp at 2.112%. The 10-year UK gilt fell to a 5-week low of 3.742% and finished down -5.8 bp at 3.761%.
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 100% for the September 12 meeting.
US Stock Movers
Wednesday’s rally in chip stocks supported gains in the broader market. ARM Holdings Plc closed up more than +9% to lead gainers in the Nasdaq 100. Also, Nvidia closed up more than +8%, and Broadcom and ASML Holding NV closed up more than +6%. In addition, KLA Corp , Lam Research , Advanced Micro Devices , Marvell Technology , Micron Technology , and Applied Materials closed up more than +4%. Finally, Intel , ON Semiconductor Corp , and Qualcomm closed up more than +3%.
Health insurance stocks with Medicare Advantage plans fell for a second day Wednesday after Leerink Partners published a report Tuesday that said those plans might have a tougher time earning high-quality “star ratings” that drive bonus payments. As a result, Humana closed down more than -5% to lead losers in the S&P 500. Also, UnitedHealth Group and CVS Health Corp closed down more than -1%.
Defensive food manufacturers retreated Wednesday on the rally in the broader equity market. As a result, Conagra Brands closed down more than -4%, and Campbell Soup closed down more than -3%. Also, Hershey , Sysco , Hormel Foods , Tyson Foods , and General Mills closed down more than -2%.
Albemarle closed up more than +13% as lithium stocks rallied after UBS said CATL curtailed lithium production at its Jiangxi operation.
Starbucks closed up more than +5% after CEO Niccol said he is open to exploring a new joint venture partnership structure in China.
AES Corp closed up more than +8% after Jeffries initiated coverage on the stock with a recommendation of buy and a price target of $20.
Viking Therapeutics closed up more than +11% after JPMorgan Chase initiated coverage on the stock with a recommendation of overweight and a price target of $80.
Viridian Therapeutics closed up more than +5% after Needham & Co. raised its price target on the stock to $48 from $30.
William-Sonoma closed up more than +2% after Jeffries upgraded the stock to buy from hold with a price target of $156.
Trump Media & Technology closed down more than -10% following last night’s Harris-Trump debate, as the odds on the betting website PredictIt of Vice President Harris winning the presidency rose to 56% Wednesday morning from 53% before the debate.
GameStop closed down more than -12% after reporting Q2 net sales of $798.3 million, weaker than the consensus of $895.5 million.
Rollins Inc closed down more than -2% on negative carryover from a -20% plunge in peer Rentokil after it issued a surprise downgrade to its full-year growth estimates.
Earnings Reports (9/12/2024)
Adobe Inc (ADBE), Caleres Inc (CAL), IBEX Holdings Ltd (IBEX), Ispire Technology Inc (ISPR), Kroger Co/The (KR), Lovesac Co/The (LOVE), NexPoint Diversified Real Esta (NXDT), Radiant Logistics Inc (RLGT), RH (RH), Signet Jewelers Ltd (SIG), Value Line Inc (VALU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
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