The June-quarter earnings reporting started with a bang Friday, but there is a pause until Tuesday morning, when we shall hear results from Bank of America, BNY Mellon, Charles Schwab, Lockheed Martin and Morgan Stanley.
Before U.S. markets open on Wednesday, these five companies are on tap to report quarterly results.
ASML
Semiconductor manufacturing equipment maker ASML N.V. (NASDAQ: ASML) stock has added 65% to its share price over the past 12 months, including a year-to-date gain of more than 38%.
The Netherlands-based company is the sole manufacturer of a chipmaking technology known as immersion deep ultraviolet lithography. While the company is prohibited from selling the machines in China, new chipmaking plants in the United States and Europe are expected to more than make up for the lost Chinese revenue. At least, that seems to be the current betting line.
Of 33 analysts following the stock, 26 have a Buy or Strong Buy rating, and another six have Hold ratings. At a recent price of around $754.00 a share, the implied upside based on a median price target of about $842.00 is 11.4%. At the high price target of $1,067.00, the upside potential reaches 41.5%.
Analysts expect the company to report revenue of $7.52 billion for the June quarter, which would be up by about 2.8% sequentially and by 32.2% year over year. Adjusted earnings per share (EPS) are forecast at $5.16, down 3.8% sequentially but up 39.1% year over year. For the full 2023 fiscal year, analysts anticipate EPS of $21.11, up 39.5% year over year, on revenue of $29.78 billion, up 31.4%.
ASML stock trades at around 36.4 times expected 2023 EPS, 29.9 times estimated 2024 EPS of $25.73 and 23.6 times estimated 2025 earnings of $32.56 per share. Its 52-week trading range is $363.15 to $771.98. The high was posted last Friday. The company pays an annual dividend of $9.96 per share (yield of 1.32%). Total shareholder return for the past 12 months was 66.5%.
Baker Hughes
Oilfield services firm Baker Hughes Co. (NASDAQ: BKR) has seen a share-price gain of more than 30% over the past year, with more than half that gain coming since the firm reported first-quarter results.
That report in April noted that orders for oilfield services and equipment rose by more than 25% in the first quarter, more than offsetting a decline of 1% in industrial and energy technology orders. CEO Lorenzo Simonelli noted at the time a shift toward development of natural gas and liquefied natural gas. Investors are expecting good news on that front.
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