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For Immediate Release
Chicago, IL –September 19, 2024 – Zacks Equity Research shares Willdan Group, Inc.’s WLDN, as the Bull of the Day and Xerox XRX, as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Microsoft Corp. MSFT, Apple Inc. AAPL and Amazon.com, Inc. AMZN.
Here is a synopsis of all five stocks:
Bull of the Day:
Willdan Group, Inc.’s pitch to clients across utilities, government agencies, and private industry is more compelling than ever, and Wall Street is catching on.
Willdan helps “transition communities to clean energy and a sustainable future,” with offerings spanning electric grid solutions, energy efficiency, and beyond.
Willdan is ready to ride the multi-decade, multi-trillion-dollar energy transition. The small-cap consulting firm has landed deals with state governments and tech giants such as Meta.
Willdan stock has soared 90% during the last 12 months alongside WLDN’s surging earnings estimates. On top of that, Willdan shares are trading 30% below their 2021 peaks.
The Basic Bull Case for Willdan Stock
Willdan is a small-cap consulting firm that’s been in business for 60 years. Willdan provides professional, technical, and consulting services centered around grid solutions, energy efficiency and sustainability, engineering, financial and economic planning, research and development, and more.
Willdan works with companies and entities throughout utilities, government agencies, healthcare, hospitality, data centers, industrials, education, multifamily housing, and beyond. WLDN helps its clients in key areas such as grid optimization, energy efficiency, microgrids, smart cities, and other growth areas.
Willdan is ready to thrive as every pocket of the economy spends heavily to thrive as the U.S. undergoes a large-scale energy transition. The U.S. is attempting to cut back its reliance on fossil fuels and become more sustainable, while also growing the economy as energy demand soars in the AI-age.
The energy transition is part of a wide-scale infrastructure boom that’s underway. The infrastructure megatrend spans everything from AI data centers and next-generation nuclear reactors to revamped and expanded electricity grids, water systems, and other more traditional infrastructure projects.
“The electric load growth macrotrend strengthened over the quarter, fueled by growth in electricity demand at data centers from artificial intelligence,” Willdan CEO Mike Bieber said in prepared Q2 remarks.
“Given the results for the first half of 2024 and the current momentum, we are raising our full year targets for fiscal 2024.”
Willdan’s diverse client list includes The City College of New York, the state of Virginia, and technology superpower Meta. WLDN landed its deal with the parent company of Facebook and Instagram during the first half of 2024.
Willdan is helping Meta META “study emissions related to voluntary clean energy procurement.” Meanwhile, Willdan is exploring how increased energy demand is impacting the grid across Virginia.
Willdan most recently earned a contract to deliver energy savings for the fifth-largest school district in the U.S. Clark County School District in Neveda selected Willdan for a “$102 million contract to deliver energy-saving projects across 204 schools.”
Willdan's Recent Growth and Strong Outlook
Willdan grew its revenue by 19% in 2023 and 21% in 2022, expanding its sales from $350 million in 2021 to $510 million last year. Willdan also nearly doubled its adjusted earnings last year, soaring from $0.88 to $1.75 a share.
WLDN has crushed our bottom-line estimate by an average of 110% in the past three quarters, including a 90% second quarter beat.
Willdan’s earnings outlook has also climbed steadily over the last year and the past several months. WLDN’s FY25 consensus estimate has climbed 18% since its Q2 release, with its third quarter 2024 estimates 28% higher. Willdan’s improving EPS estimates help it capture a Zacks Rank #1 (Strong Buy).
Willdan is projected to expand its adjusted EPS by 20% in 2024 and another 12% next year to $2.35 a share. Willdan is expected to grow its revenue by 10% this year and 6% in 2025 to reach nearly $600 million.
Breaking Down Willdan’s Performance, Technical Levels, and Valuation
WLDN stock has nearly tripled the S&P 500 over the past 15 years, climbing 1,226% vs. 447%. The stock has been more volatile than the benchmark over that stretch, with it currently neck-and-neck with the S&P 500 during the trailing 10 years, having jumped 190%.
Willdan shares have soared 90% in the last 12 months to blow away its Zacks sector’s 24% run and the S&P 500’s 26%. WLDN’s recent strength is highlighted by a 30% surge over the past three months.
Despite Willdan soaring well over 200% off its 2022 lows, WLDN stock trades 30% below its 2021 peaks. Willdan stock climbed back above its 50-month moving average at the end of the first quarter.
WLDN recently found support near its 21-day moving average. Willdan is also far from overheated, trading just above neutral RSI levels.
Valuation-wise, Willdan trades near its 10-year median (19.1X) at 20.4X forward 12-month earnings and at an 18% discount to its Zacks sector despite its long-term and near-term outperformance.
Bear of the Day:
Zacks Rank #5 (Strong Sell) Xerox is a Fortune 500 company recognized for its groundbreaking contributions to the printing, scanning, and photocopy technology industry. Beyond its digital printing machines, Xerox also provides document management solutions, workflow automation and IT support to help companies optimize their operations.
Xerox Suffers from a Digital World
Xerox was once so dominant in the photocopy and scanning business that the company’s name became a verb. Instead of saying that they would fax something, people began to say they would “Xerox” it over. Though Xerox is still a leader in the traditional print, copy, and scanning business, it has consistently shrunk in recent years due to technological advances. The world has gone digital, and technology has advanced precipitously over the past twenty years.
Gone are the days of needing a bulky machine to scan documents. Today, anyone can quickly scan a document within seconds using their iPhone or Android devices. Meanwhile, software serviceswhich allows companies and individuals to manage electronic agreements, have cropped up and continue to eat into Xerox’s business. Finally, digitization has only increased as more employees work from home following the fallout of the COVID-19 pandemic. As a result, the company’s sales have been stagnant for several years.
Xerox’s Business has Been Commoditized
Several companies, such as HP, Canon and Lexmark, have entered the printing business and are proving formidable competition for XRX. Investors can recognize the impact of competition by viewing a chart of Xerox’s gross margins, which have steadily decreased over the past few years.
Xerox Continues to Fall Short of Wall Street Expectations
Xerox is suffering from “caretaker management,” which occurs when an older (and often successful) company is run by a management team that is content with the status quo and is risk averse. The lack of innovation coupled and the slowdown in Xerox’s one-dimensional business is evident in the company’s earnings surprise history.
XRX has fallen short of Zacks Consensus Estimates for three out of the past four quarters, with an average surprise of -25.39%. In other words, expectations are low, yet the company continues to fall short of them.
Relative Weakness & Opportunity Cost of Holding XRX
If you purchased XRX 25 years ago, you would be down more than 80% (the S&P is up nearly 800% over this period). With 25 years of lackluster price action, relative weakness, and a lack of bullish catalysts, there is little to be excited about.
Bottom Line
Xerox suffering from new technology, increased competition, falling sales, and shrinking margins. To make matters worse, management is doing little to innovate and the company continues to fall short of Wall Street Expectations.
Additional content:
Microsoft Unveils $60 Billion Stock Buyback: Time to Buy MSFT Stock?
One of the magnificent 7 stocks, Microsoft Corp. , is part of the $3 trillion club as its shares have seen an impressive run over the past few years. However, after hitting a record high on July 5, the MSFT stock has underperformed the S&P 500 this year (+15.9% vs. +18.1%).
But will Microsoft’s recent share repurchase program boost its stock price and provide an ideal entry point for potential buyers? Let’s see –
Microsoft Stock – Share Repurchase Plan
Microsoft recently approved a stock-buyback program, a shareholder-friendly initiative. Microsoft’s new $60 billion share repurchase program is the third largest this year after stock buyback authorizations of $100 billion and $70 billion by Apple Inc. and Amazon.com, Inc., respectively. Microsoft’s new stock repurchase program matched its largest-ever buyback program (read more: NVIDIA Approves $50 Billion Stock Buyback: Time to Buy?).
Stock Buyback – A Good Sign for Microsoft
Microsoft’s share repurchases indicate that the company’s board of directors is hopeful about its future business scenarios.
The repurchase program is aimed at Microsoft acquiring its outstanding shares and reducing the numbers available in the open market. This, in turn, would increase the value of the remaining shares, a boon for Microsoft’s shareholders.
Microsoft is opting for a buyback to boost earnings per share (EPS) vis-à-vis the stock price. Microsoft stock, currently, is trading above the 200-day moving average (DMA), indicating a long-term uptrend.
Key MSFT Tailwinds: Azure Growth, Strong ROE, Dividend Hike
Microsoft’s coveted Azure and cloud services business has generated a revenue growth of 29% year over year in the fiscal fourth quarter of 2024. Azure’s growth strengthened Microsoft’s position in the highly competitive cloud-computing market, mostly dominated by Amazon Web Services (AWS).
Microsoft has already spent $55.7 billion in fiscal 2024 on its cloud business and plans to increase its capital expenditures as Azure has picked up steam. The Azure cloud infrastructure unit is growing faster than AWS and if the trend persists, Azure could be the industry leader soon. In 2019, Azure was half the size of AWS, but now it’s three-quarters! As a result, the $13.04 Zacks Consensus Estimate for MSFT’s EPS is up 5% yearly.
Microsoft is generating profits competently and has used the capital optimally invested by shareholders. After all, Microsoft’s return on equity (ROE) is 36%, almost neck and neck with the Computer - Software industry’s 36.1%. Any reading above 20% is likely considered to be very strong.
Microsoft has a strong cash balance of $75.54 billion (as of June 30, 2024), which would help it pay off its dues and boost shareholders’ wealth through dividends. Microsoft recently announced a quarterly dividend of 83 cents a share to be paid on Dec. 12, 2024, up 10% from the previous quarter’s payout. Microsoft’s dividend payout has increased by almost 10.3% in the past five years, indicating a sound business model.
Buy, Hold, or Sell MSFT Stock?
Introducing a share repurchase plan, the possibility of Azure taking the lead from AWS, and generating a guaranteed income through dividends should allure anyone to buy MSFT shares.
However, the MSFT stock is expensive. Its price/earnings ratio is 33.3X forward earnings, while the broader S&P 500’s forward earnings multiple is 23.8X.
Hence, it’s prudent for astute investors to wait for the opportune moment to buy MSFT stock and not burn a hole in one’s pocket. For those invested in MSFT stock, hold on to it, since Microsoft is a blue-chip company having a long track record of profitability. Currently, Microsoft has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
Amazon.com has announced a rise in the base pay for its hourly workers in fulfillment and transportation operations to over $22 per hour, marking a $1.50 increase. This wage increase is part of a larger $2.1 billion investment in its logistics operations and workforce. The investment is aimed at supporting over 150,000 contracted drivers and warehouse workers across the US.
In addition to the pay rise, Amazon is introducing a new benefit package for its hourly employees. Starting in 2024, these workers will receive a free Amazon Prime subscription, valued at $140 per year. The subscription will provide employees with benefits such as fast shipping and video streaming.
These changes are being implemented as the holiday shopping season approaches. They follow a similar pay increase for Amazon's contracted delivery drivers. The wage increases and expanded benefits are part of Amazon's strategy to remain competitive in the labor market and to improve conditions for its workers.
Amid the Federal Reserve’s recent decision to cut interest rates, CNBC’s Jim Cramer has weighed in on how these changes might affect the technology sector.
What Happened: Cramer discussed the Federal Reserve’s recent interest rate cuts and their implications for the technology sector on Wednesday. He believes these cuts do not significantly benefit tech stocks.
According to CNBC on Thursday, Cramer stated, “With a double-sized rate cut that everybody already expected, you aren’t going to see a huge run in tech.”
He emphasized that the Fed’s actions are more beneficial to companies reliant on a healthy consumer base.
The Federal Reserve initiated its rate-cutting cycle by reducing rates by half a point and signaled an additional 50 basis points cut by year-end. This marks the first rate cut since the pandemic, aimed at addressing inflation and balancing economic risks.
Cramer highlighted his observations from Salesforce Inc. ’s annual conference in San Francisco, noting that tech companies, particularly those focused on AI, are less impacted by rate cuts. These companies cater to enterprises rather than consumers, distancing them from the labor market.
See Also: Ethereum Co-Founder Says Donald Trump Is ‘Certainly The Favorite’ Over Kamala Harris For Crypto
He suggested that consumer-oriented companies might benefit more during this rate-cutting cycle. Despite potential gains for tech stocks, Cramer noted that Wall Street often shifts focus to companies that thrive with lower rates.
Cramer concluded, “On days like today, we want the companies that desperately needed a rate cut, because they just got what they wished for. But tech? It got out of the wish game a very long time ago.”
Why It Matters: The Federal Reserve’s decision to cut interest rates by 50 basis points marks a significant shift in monetary policy, breaking a streak of 12 consecutive months with rates held steady. This move aims to address inflation and balance economic risks. The rate cut has already impacted market sentiment, with the CNN Money Fear and Greed index showing improvement, moving into the “Greed” zone.
Price Action: Invesco QQQ Trust, Series 1 , which tracks tech players like Apple Inc. , Microsoft Corp. , Nvidia Corp. , Broadcom Inc. and others, was trading 1.67% higher during the pre-market at $479.33 while it closed at $471.44, as per Benzinga Pro.
Read Next:
Image via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Jabil Inc. (JBL) is a manufacturing solutions firm staring down slowing demand across multiple end markets.
Jabil shares have fallen roughly 30% since JBL’s second quarter FY24 earnings release in mid-March, and its most recent EPS estimates came in below its already beaten-down consensus for next year.
Jabil Stock Basics
Jabil provides manufacturing services to companies in telecommunications and tons of other industries. Jabil helps its customers make everything from smartphones and home appliances to healthcare tech, and beyond.
Jabil serves original equipment manufacturers and product companies across multiple industries and end markets, including compute & storage, automotive, telecom, energy & industrial, and more.
Jabil’s client list features giants of critical and game-changing industries, including Apple AAPL. Apple reportedly made up 17% of Jabil’s revenue during its fiscal 2023.
Jabil’s diversification and expertise helped it grow steadily for years, including 12% average revenue growth between FY18 and FY22. The company then posted just a 4% sales expansion in FY23 (the period ended August 31, 2023).
Jabil provided downbeat earnings guidance throughout the first three quarters of its fiscal 2024. Jabil divested its Mobility business this fiscal year and “experienced softness across multiple end markets.”
Jabil’s downward earnings revisions help it earn a Zacks Rank #5 (Strong Sell) right now. Jabil’s most accurate/recent EPS estimate for FY25 came in 3% below its current consensus, which is already down 14% since its Q3 release in late June.
Bottom Line on JBL Stock Right Now
JBL stock has outperformed the Zacks Tech sector over the last decade. On top of that, Jabil stands to expand alongside growth trends such as data center power and cooling, semi-cap equipment, and beyond.
Still, Jabil stock has fallen nearly 30% since its second quarter FY24 earnings release in mid-March and 14% YTD. JBL shares are trading below their 21-week and 50-week moving averages, and its Electronics - Manufacturing Services space is in the bottom 16% of over 250 Zacks industries.
Investors might want to stay away from Jabil stock until it releases its fourth quarter FY24 financial results on September 26 and provides updated guidance.
Zacks Investment Research
Willdan Group, Inc.’s WLDN pitch to clients across utilities, government agencies, and private industry is more compelling than ever, and Wall Street is catching on.
Willdan helps “transition communities to clean energy and a sustainable future,” with offerings spanning electric grid solutions, energy efficiency, and beyond.
Willdan is ready to ride the multi-decade, multi-trillion-dollar energy transition. The small-cap consulting firm has landed deals with state governments and tech giants such as Meta.
Willdan stock has soared 90% during the last 12 months alongside WLDN’s surging earnings estimates. On top of that, Willdan shares are trading 30% below their 2021 peaks.
The Basic Bull Case for Willdan Stock
Willdan is a small-cap consulting firm that’s been in business for 60 years. Willdan provides professional, technical, and consulting services centered around grid solutions, energy efficiency and sustainability, engineering, financial and economic planning, research and development, and more.
Willdan works with companies and entities throughout utilities, government agencies, healthcare, hospitality, data centers, industrials, education, multifamily housing, and beyond. WLDN helps its clients in key areas such as grid optimization, energy efficiency, microgrids, smart cities, and other growth areas.
Willdan is ready to thrive as every pocket of the economy spends heavily to thrive as the U.S. undergoes a large-scale energy transition. The U.S. is attempting to cut back its reliance on fossil fuels and become more sustainable, while also growing the economy as energy demand soars in the AI-age.
The energy transition is part of a wide-scale infrastructure boom that’s underway. The infrastructure megatrend spans everything from AI data centers and next-generation nuclear reactors to revamped and expanded electricity grids, water systems, and other more traditional infrastructure projects.
“The electric load growth macrotrend strengthened over the quarter, fueled by growth in electricity demand at data centers from artificial intelligence,” Willdan CEO Mike Bieber said in prepared Q2 remarks.
“Given the results for the first half of 2024 and the current momentum, we are raising our full year targets for fiscal 2024.”
Willdan’s diverse client list includes The City College of New York, the state of Virginia, and technology superpower Meta. WLDN landed its deal with the parent company of Facebook and Instagram during the first half of 2024.
Willdan is helping Meta META “study emissions related to voluntary clean energy procurement.” Meanwhile, Willdan is exploring how increased energy demand is impacting the grid across Virginia.
Willdan most recently earned a contract to deliver energy savings for the fifth-largest school district in the U.S. Clark County School District in Neveda selected Willdan for a “$102 million contract to deliver energy-saving projects across 204 schools.”
Willdan's Recent Growth and Strong Outlook
Willdan grew its revenue by 19% in 2023 and 21% in 2022, expanding its sales from $350 million in 2021 to $510 million last year. Willdan also nearly doubled its adjusted earnings last year, soaring from $0.88 to $1.75 a share.
WLDN has crushed our bottom-line estimate by an average of 110% in the past three quarters, including a 90% second quarter beat.
Willdan’s earnings outlook has also climbed steadily over the last year and the past several months. WLDN’s FY25 consensus estimate has climbed 18% since its Q2 release, with its third quarter 2024 estimates 28% higher. Willdan’s improving EPS estimates help it capture a Zacks Rank #1 (Strong Buy).
Willdan is projected to expand its adjusted EPS by 20% in 2024 and another 12% next year to $2.35 a share. Willdan is expected to grow its revenue by 10% this year and 6% in 2025 to reach nearly $600 million.
Breaking Down Willdan’s Performance, Technical Levels, and Valuation
WLDN stock has nearly tripled the S&P 500 over the past 15 years, climbing 1,226% vs. 447%. The stock has been more volatile than the benchmark over that stretch, with it currently neck-and-neck with the S&P 500 during the trailing 10 years, having jumped 190%.
Willdan shares have soared 90% in the last 12 months to blow away its Zacks sector’s 24% run and the S&P 500’s 26%. WLDN’s recent strength is highlighted by a 30% surge over the past three months.
Despite Willdan soaring well over 200% off its 2022 lows, WLDN stock trades 30% below its 2021 peaks. Willdan stock climbed back above its 50-month moving average at the end of the first quarter.
WLDN recently found support near its 21-day moving average. Willdan is also far from overheated, trading just above neutral RSI levels.
Valuation-wise, Willdan trades near its 10-year median (19.1X) at 20.4X forward 12-month earnings and at an 18% discount to its Zacks sector despite its long-term and near-term outperformance.
Zacks Investment Research
Ahead of the official release of Apple Inc.'s iPhone 16, T-Mobile US Inc. CEO Mike Sievert has shared promising sales figures for the new model, indicating a strong start despite earlier concerns about demand.
What Happened: In an interview with CNBC's Jim Cramer on Wednesday, Sievert revealed that the iPhone 16 is outperforming last year’s model in sales.
“The first week was better than last year,” Sievert noted. He emphasized that customers are purchasing higher-end models, contributing more to Apple's top and bottom lines.
"People are buying Pros, they're buying Maxs, so they're buying up the food chain, and they're buying at a greater rate than last year," Sievert said, according to the report.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Although the iPhone 16 will hit stores on Friday, its much-anticipated AI features will not be available until next month. Some analysts had predicted lower demand due to this delay, increasing pressure on the Apple stock.
However, Sievert stated that demand remains strong and the delay might extend the buying cycle. He believes it will take longer for customers to share their experiences due to the postponed features.
Why It Matters: The positive sales report from T-Mobile comes amid concerns about the iPhone 16’s market performance.
Top analyst Ming-Chi Kuo reported that pre-orders for the iPhone 16 Pro and Pro Max were lower than expected during the first weekend, with around 37 million units sold. Kuo’s analysis, based on supply chain surveys and pre-order data, suggested weaker demand for the Pro models, contrary to Sievert's comments.
Further, early pre-order data indicated that demand for the iPhone 16 might be lower than anticipated due to insufficient reasons for existing iPhone owners to upgrade.
Check out more of Benzinga's Consumer Tech coverage by following this link.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Apple
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sept 19 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
- Boeing BA.N will start furloughing tens of thousands of employees in the coming days as it seeks to blunt the effects of a strike involving its largest union.
- Iranian hackers seeking to influence the 2024 election sent excerpts from pilfered Trump campaign documents to people associated with President Biden's re-election campaign this summer, but the recipients did not respond, law enforcement officials said.
- A consumer-protection lawsuit filed by Environmental Working Group alleges that Tyson Foods TSN.N is misleading consumers with claims about its efforts to curb greenhouse gas emissions.
- A group of contestants who participated in “Beast Games,” the reality competition show hosted by Jimmy Donaldson, better known online as MrBeast, are suing Mr. Donaldson and the production companies behind the show, accusing them of exposing participants to “dangerous circumstances and conditions.”
(Compiled by Bengaluru newsroom)
(( globalnewsmonitoring@thomsonreuters.com ))
Keywords: PRESS-DIGEST-NYT/
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