Of 31 analysts covering Applied Materials stock, 22 have Buy or Strong Buy ratings and eight more have Hold ratings. At a recent price of around $118.50 a share, the implied upside based on a median price target of $125.00 is about 5.5%. At the high target of $140.00, the upside potential is 18.1%.
For the company’s first quarter of fiscal 2023, analysts expect revenue of $6.66 billion, which would be down 1.4% sequentially but up 6.2% year over year. Adjusted EPS are forecast at $1.92, down 5.4% sequentially and up 1.6% year over year. For the full fiscal year ending in October, analysts anticipate EPS of $6.61, down 14.2%, on sales of $24.1 billion, down 6.7%.
Applied Materials’ stock trades at about 17.9 times expected 2023 EPS, 18.0 times estimated 2023 earnings of $6.59 and 14.3 times estimated 2024 earnings of $8.26 per share. The stock’s 52-week trading range is $71.12 to $143.79. Applied Materials pays an annual dividend of $1.04 (yield of 0.91%). Total shareholder return over the past year was negative 9.34%.
Deere
Heavy equipment maker Deere & Co. (NYSE: DE) has posted a share price gain of 5.7% over the past 12 months. Since posting a 52-week low in early July, the stock has added more than 42%, including a year-to-date dip of 4.5%. Deere reports quarterly results on Friday morning.
A month ago, Deere signed a memorandum of understanding with the American Farm Bureau Federation that allows farmers to repair their own equipment. Deere, like Apple until last year, required owners to get service and repair work done only at authorized shops. On Monday, the U.S. Department of Justice weighed in against Deere in a related case seeking damages for alleged Deere violations of the Sherman Antitrust Act.
Analysts continue to be bullish, with 16 of 26 having a rating of Buy or Strong Buy and nine more rating the stock at Hold. At a share price of around $409.00, the upside potential based on a median price target of $477.00 is 16.6%. At the high price target of $582.00, the upside potential is 42.3%.
For the company’s first quarter of fiscal 2023, analysts expect Deere to report revenue of $11.14 billion, down 22.4% sequentially but 30.6% higher year over year. Adjusted EPS are expected to come in at $5.47, down 29.5% sequentially and up 87.3% year over year. For the full 2023 fiscal year ending in October, EPS are forecast at $27.93, up 16.4%, on sales of $53.51 billion, up 11.7%.
Deere stock trades at 14.7 times expected 2023 EPS, 13.9 times estimated 2024 earnings of $29.44 and 13.1 times estimated 2025 earnings of $31.21 per share. The stock’s 52-week range is $283.81 to $448.40. The company pays an annual dividend of $4.80 (yield of 1.17%). Total shareholder return over the past year was 7%.
DraftKings
Punters placed 100 million mobile betting transactions on last Sunday’s Super Bowl, a year-over-year increase of 25%. DraftKings Inc. (NASDAQ: DKNG) paid out $2.68 million on a $1.68 million bet on the (winning) Kansas City Chiefs. None of the Super Bowl numbers will show up until the company reports current quarter earnings in a few more months. But World Cup betting will be in fourth-quarter results. That plus DraftKings’ expansion into several new states during the quarter should make the company a favorite to beat estimates when it reports results on Thursday.
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