After U.S. markets closed on Monday, Lucid Group missed estimates on both the top and bottom lines but said it is on track to reach its production goal of more than 10,000 electric vehicles (EVs) for the year. Shares traded up more than 3% after the release but had dropped by nearly 2% shortly after Tuesday’s opening bell.
Palantir Technologies met the consensus earnings per share (EPS) estimate and barely missed the revenue estimate. The company issued upside guidance for fiscal year revenue and announced that it will repurchase $1 billion worth of its own stock. Despite the good showing, shares traded down nearly 10%. Bulls apparently believe the company’s AI product is solid; bears are saying, “Show us.” On Tuesday, the bears were winning.
Paramount Global beat Wall Street estimates on both the top and bottom lines. The company’s Paramount+ streaming service now has approximately 61 million subscribers, and ad revenue rose by 21% in Paramount’s direct-to-consumer business. The stock traded down by about 3.6%. It is likely that the beats were not big enough to satisfy traders.
Before markets opened on Tuesday, Barrick Gold reported EPS that beat the consensus estimate and revenue that was about 3.4% below the consensus. Shares traded down 1.7%.
Datadog easily surpassed revenue and EPS estimates but issued mixed guidance. EPS for the current quarter is forecast to come in higher than the consensus estimate, but full-year EPS is forecast to be lower. Revenue for the third quarter and the full fiscal year was set lower than analysts’ estimates. Shares traded down about 17%.
Li Auto absolutely hammered both EPS and revenue estimates. The China-based EV maker issued upside revenue guidance and third-quarter deliveries of 100,000 to 103,000 new cars, up between 277% and 288% year over year for the quarter. Shares traded down nearly 7%, likely because investors expected even more.
UPS beat the consensus EPS estimate by 2%, but earnings were 22.8% lower than in the same quarter last year. Revenue missed estimates and was nearly 11% lower year over year. Shares traded down about 2.3% Tuesday morning.
AMC, Lyft, Marathon Digital, Rivian and Upstart are scheduled to report quarterly earnings after markets close Tuesday, while Roblox and WeWork are expected to post their results early Wednesday.
Here is a look at what analysts expect to hear from three companies reporting quarterly earnings late Wednesday or Thursday morning.
Coeur Mining
Chicago-based Coeur Mining Inc. (NYSE: CDE) sold 2.6 million ounces of silver in the first quarter of 2023 and nearly 71,000 ounces of gold for a total of $187.3 million. The company’s mines are all located in North America, and combined proven and probable reserves of gold total 3.44 million ounces, and silver reserves total 245.7 million ounces.
Over the past eight quarters, Coeur has missed EPS estimates in seven and revenue estimates in four. The stock’s total return over the past three years is negative 68.5%. And even with shares currently trading below the low end of the target range, the stock may be overvalued. Coeur needs a jolt of good news, and it is questionable whether one is forthcoming.
Of seven brokerages covering the stock, there are three with Hold ratings and four have Buy or Strong Buy ratings. At the recent trading price of around $2.70 a share, the upside potential to the median price target of $4.50 is 66.7%. At the high price target of $6.00, the upside potential is 122%.
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