Estimates for the fourth quarter call for AbbVie revenue of $15.3 billion, which would be up 3.3% sequentially and up 2.8% year over year. Adjusted EPS are pegged at $3.58, down 2.3% sequentially but 8.2% higher year over year. For the full 2022 fiscal year, analysts are looking for EPS of $13.77, a gain of nearly 8.5% year over year, and sales of $58.28 billion, up 3.9%.
The stock trades at 10.5 times expected 2022 EPS, 12.3 times estimated 2023 earnings of $11.68 and 12.6 times estimated 2024 earnings of $11.43 per share. The stock’s 52-week trading range is $134.09 to $175.91, and AbbVie pays an annual dividend of $5.92 (yield of 4.08%). Total shareholder return over the past year was 5.02%.
Cameco
Over the past year, uranium producer Cameco Corp. (NYSE: CCJ) has seen its share price jump by more than 38%. At its peak in mid-April, the stock was trading at a level it had not seen in 11 years. Since the April peak, uranium prices have dropped by about $12 a pound (nearly 19%) and Cameco stock has dropped by more than 13%. The shares are up nearly 20% for the year to date.
Demand for uranium is expected to rise this year and could get a sharp boost if Japan decides to restart some 40 reactors it mothballed following the 2011 Fukushima Daiichi disaster. The country said in 2012 that it would shut down all its nukes by 2040.
Analysts are solidly bullish on Cameco stock. All nine brokerages have a Buy or Strong Buy rating. At a share price of around $27.00, the upside potential based on a median price target of $33.44 is 23.9%. At the high price target of $35.67, the upside potential is 32.1%.
Fourth-quarter revenue is forecast at $332.35 million, up 18.1% sequentially and by 9.6% year over year. Analysts expect Cameco to post EPS of $0.04, up 65.7% sequentially but down 20.0% year over year. For the full fiscal 2022 year, EPS are currently forecast at $0.24, better than the $0.20 per share loss last year, on sales of $1.4 billion, up 19.7%.
Cameco stock trades at 114.6 times expected 2022 earnings, 38.9 times estimated 2023 earnings of $0.70 per share and 50.8 times estimated 2024 earnings of $0.54 per share. The stock’s 52-week range is $19.35 to $32.49. Cameco pays an annual dividend of $0.09 (yield of 0.31%). Total shareholder return for the past year was 37.17%.
Canopy Growth
Marijuana grower and cannabis products maker Canopy Growth Corp. (NASDAQ: CGC) has seen its share price drop by around 64% over the past 12 months. Canopy Growth (and every other marijuana grower in Canada) is waiting for the U.S. government to remove its classification of marijuana as a dangerous drug. While there has been some movement toward that goal, marijuana legalization is far from the top of any national politician’s mind right now. We continue waiting for Godot.
Analysts have essentially soured on the stock. Of 20 brokerages covering the shares, nine have a Hold rating and nine more a Sell or Strong Sell rating. Only two have a Buy or Strong Buy rating. At a share price of around $2.80, the implied upside based on a median price target of $2.93 is 4.6%. At the high price target of $10.40, the upside potential is about 257%.
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