Earnings to Watch Next Week: Palo Alto Networks, Home Depot, Nvidia and Salesforce in Focus

Market Trading EssentialsFebruary 21, 2021

5 minutes read

Monday (February 22)
Tuesday (February 23)
Wednesday (February 24)
Thursday (February 25)
Friday (February 26)

Earnings Calendar For The Week Of February 22

Monday (February 22)

IN THE SPOTLIGHT: PALO ALTO NETWORKS

The Santa Clara, California-based cybersecurity company is expected to report a profit of $1.43 per share in the fiscal second quarter, which represents year-over-year growth of over 20% from $1.19 per share seen in the same quarter a year ago.

The global cybersecurity leader would post year-over-year revenue growth of over 20% to $985.681 million.

“A rapidly growing Next-Gen Security platform plus a stable core network security business remains the equation for durable 20%+ billings growth heading into the FQ2 print. More clarity into the dual growth engines should drive further multiple expansion, with our SoTP valuation yielding a $515 price target,” noted Keith Weiss, equity analyst at Morgan Stanley.

“Palo Alto Networks offers a disruptive platform, well-positioned to address the evolving threat landscape. We believe Palo Alto Networks will continue to differentiate itself from its peers as it proves out a broader TAM around a NextGen Security Platform (and executing to that opportunity). With the strong billings base and the continued drive towards higher operating margins, we remain confident in the durability of our FCF estimates. Currently trading at 22x CY22e FCF vs. our model which looks for 18% FCF CAGR from CY21-26e and terminal 23x CY26e FCF, we continue to see attractive risk/reward in PANW shares.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 22

Ticker	Company	EPS Forecast
DPH	Dechra Pharma	£32.57
BNZL	Bunzl	£71.65
DISCB	Discovery Communications Discb	$0.72
DISCA	Discovery Communications	$0.71
GHC	Graham	$8.87
DISCK	Discovery Communications Disck	$0.72
KBR	KBR	$0.49
DORM	Dorman Products	$0.92
KFY	Korn Ferry International	$0.51
CTB	Cooper Tire Rubber	$0.92
THRM	Gentherm	$0.65
DISH	Dish Network	$0.78
BZLFY	Bunzl plc	$0.13
CDNS	Cadence Design Systems	$0.74
PANW	Palo Alto Networks	$1.43
SBAC	SBA Communications	$0.52
RSG	Republic Services	$0.81
WMB	Williams Companies	$0.30
O	Realty Ome	$0.35
SID	Companhia Siderurgica Nacional	$0.11
OKE	ONEOK	$0.74
IR	Ingersoll Rand	$0.45
EXR	Extra Space Storage	$0.91
TREX	Trex	$0.36
FIVN	Five9	$0.23
NDSN	Nordson	$1.06
FANG	Diamondback Energy	$0.82
LSI	LIFE STORAGE	$0.54
XEC	Cimarex Energy	$0.68
AL	Air Lease	$0.75
PSB	PS Business Parks	$0.80
SBRA	Sabra Health Care Reit	$0.18
CNNE	Cannae	-$0.09
NHI	National Health Investors	$1.01
AWR	American States Water	$0.47
BCC	Boise Cascade	$0.99
HTA	Healthcare Of America	$0.11
RIG	Transocean	-$0.18
MRO	Marathon Oil	-$0.20
CVI	CVR Energy	-$0.72
GDOT	Green Dot	$0.18
WRI	Weingarten Realty Investors	$0.10
ACC	American Campus Communities	$0.09
OXY	Occidental Petroleum	-$0.58
ICAD	Icade	€2.33
PPERY	PT Bank Mandiri Persero TBK	$0.09
MGEE	Mge Energy	$0.51
CCU	Compania Cervecerias Unidas	$238.63
TPL	Texas Pacific Land	$4.66
SHCAY	Sharp ADR	$0.08
BKRKY	Bank Rakyat	$0.13
PKX	Posco	$1.52
WF	Woori Bank	$0.75
GPFOY	Financiero Inbursa ADR	$0.13
OSH	Oak Street Health	-$0.25
YALA	Yalla	$0.12
KHOLY	Koc Holdings AS	$0.20
DM	Dominion Midstream Partners	-$0.06
AU	Anglogold Ashanti	$1.85
CRI	Carters	$2.74
AVST	Avast Holdings	£0.12

Tuesday (February 23)

IN THE SPOTLIGHT: HOME DEPOT

The U.S. largest home improvement retailer is expected to report a profit of $2.61 per share in the fourth quarter, which represents year-over-year growth of over 14% from $2.28 per share seen in the same quarter a year ago. In the last four consecutive quarters, on average, the company has delivered an earnings surprise of 3.60%.

The Cobb County, Georgia-based company’s revenue would surge more than 18% to $30.45 billion.

“Home Depot has witnessed continued strong demand for home-improvement projects as customers spent more time at home during the coronavirus pandemic. The company has been gaining from the high-demand environment, driven by investments in its business. This coupled with broad-based strength across stores and geographies has been boosting comparable sales (comps) performance,” noted analysts at Zacks Equity Research.

“Amid the pandemic, customers have been blending the physical and digital elements of the shopping experience more than ever before making the company’s interconnected One Home Depot strategy the most relevant. Its interconnected retail strategy and underlying technology infrastructure have helped consistently boost web traffic in the past six months. Additionally, it has been benefiting from enhanced delivery and fulfilment options to provide a robust interconnected experience. Gains from these efforts are likely to have aided the company’s sales and earnings performance in the fiscal fourth quarter.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 23

Ticker	Company	EPS Forecast
UTG	Unite Group	£45.10
HSBA	HSBC Holdings	£0.01
CROX	Crocs	$0.82
ARNC	Arconic Inc	$0.35
CBRL	Cracker Barrel Old Country Store	$0.75
WLK	Westlake Chemical	$0.74
MDT	Medtronic	$1.15
SPR	Spirit AeroSystems	-$0.83
FE	FirstEnergy	$0.47
BCO	Brinks	$0.98
HD	Home Depot	$2.61
BNS	Scotiabank	$1.24
BMO	Bank Of Montreal USA	$1.69
CBRE	CBRE Group Inc	$0.94
LDOS	Leidos	$1.61
BLD	TopBuild Corp	$1.95
NXST	Nexstar Broadcasting	$6.99
TRI	Thomson Reuters USA	$0.46
M	Macy’s	$0.05
AWI	Armstrong World Industries	$0.67
RLGY	Realogy	$0.57
ETRN	Equitrans Midstream Corp	$0.34
LGIH	LGI Homes	$4.05
SATS	EchoStar	-$0.03
GMAB	Genmab A/S	kr7.68
XNCR	Xencor	-$0.38
ARNA	Arena Pharmaceuticals	-$1.84
EC	Ecopetrol	$0.22
HSBC	HSBC	$0.08
TX	Ternium	$1.02
COG	Cabot Oil Gas	$0.21
CBD	Companhia Brasileira De Distrib	$0.46
FLS	Flowserve	$0.53
PXD	Pioneer Natural Resources	$0.69
INFN	Infinera	$0.02
MTG	MGIC Investment	$0.40
XP	XP Inc	$1.05
SQ	Square	$0.24
INTU	Intuit	$0.99
CSGP	CoStar	$2.42
VRSK	Verisk Analytics	$1.30
PODD	Insulet	-$0.04
HEI	Heico	$0.48
MASI	Masimo	$0.85
EQH	AXA Equitable Holdings Inc	$1.21
CHE	Chemed	$5.13
TOL	Toll Brothers	$0.47
WES	Western Gas Partners	$0.59
HALO	Halozyme Therapeutics	$0.53
INSP	Inspire Medical Systems Inc	-$0.46
JAZZ	Jazz Pharmaceuticals	$4.24
Y	Alleghany	$5.04
RRC	Range Resources	$0.05
EPRT	Essential Properties Realty Trust Inc	$0.16
MTDR	Matador Resources	$0.12
CHX	ChampionX Corp	$0.04
MATX	Matson	$1.36
APLE	Apple Hospitality	-$0.14
ATRC	AtriCure	-$0.28
PEB	Pebblebrook Hotel	-$0.90
DAR	Darling Ingredients	$0.42
MRTX	Mirati Therapeutics	-$2.28
ALLK	Allakos	-$0.85
JBGS	JBG SMITH Properties	$0.29
IHG	Intercontinental Hotels	$0.94
VERX	Vertex Inc. Cl A	$0.07
JYSK	Jyske Bank	kr8.46
VIV	Telefonica Brasil	$0.15
CXO	Concho Resources	$1.18
MNTA	Momenta Pharmaceuticals	-$0.50
IHG	Intercontinental	£0.97
VJBA	Vestjysk Bank	kr0.08
FMS	Fresenius Medical Care	$0.74

Wednesday (February 24)

IN THE SPOTLIGHT: NVIDIA

The Santa Clara, California- based multinational technology company is expected to report a profit of $2.80 per share in the fiscal fourth quarter, which represents year-over-year growth of over 48% from $1.89 per share seen in the same quarter a year ago.

The company, which designs graphics processing units for the gaming and professional markets, as well as system on a chip unit for the mobile computing and automotive market, forecasts revenue of $4.8 billion.

“NVIDIA‘s fiscal fourth-quarter performance is likely to have benefited from growth across all of its business segments except the Automotive and Professional Visualization units. NVIDIA is also anticipated to have benefited from strength in its data-centre business on the growing adoption of cloud-based solutions amid the coronavirus crisis-induced work-from-home wave. Increase in Hyperscale demand and growing adoption in the inference market are likely to have been tailwinds during the to-be-reported quarter,” noted analysts at Zacks Equity Research.

“Additionally, the pandemic-induced remote-working wave is likely to have bolstered sales of graphic chips utilized in desktops and laptops. This, in turn, is anticipated to have aided the quarterly performance. Nonetheless, disruptions in retail channel sales due to lockdown and social-distancing measures implemented by governments across the world to contain the spread of coronavirus might have partially offset the benefit of solid demand for the remote-working and online-learning hardware infrastructure.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 24

Ticker	Company	EPS Forecast
RY	Royal Bank Of Canada	$1.78
TCP	TC Pipelines	$0.99
RGEN	Repligen	$0.31
ENBL	Enable Midstream Partners	$0.11
LOW	Lowe’s Companies	$1.20
LIVN	LivaNova PLC	$0.66
HZNP	Horizon Pharma	$1.05
IONS	Ionis Pharmaceuticals	$0.26
CLH	Clean Harbors	$0.39
VER	VEREIT	$0.19
IRM	Iron Mountain	$0.31
WEX	WEX	$1.46
AVA	Avista	$0.79
SBGI	Sinclair	$5.07
ITRI	Itron	$0.34
SIX	Swiss Exchange	-$0.89
WYND	Wyndham Destinations Inc	$0.49
PNW	Pinnacle West Capital	$0.04
VRT	Veritas Pharma	$0.33
HFC	HollyFrontier	-$0.71
ODP	Office Depot	$0.95
TJX	TJX Companies	$0.61
OSTK	Overstock	$0.17
EXC	Exelon	$0.69
ETR	Entergy	$0.67
TRN	Trinity Industries	$0.15
IBP	Installed Building Products	$1.23
EV	Eaton Vance	$0.89
UTHR	United Therapeutics	$2.95
ORA	Ormat Technologies	$0.37
WTRG	Essential Utilities Inc	$0.45
VAC	Marriottacations Worldwide	$0.03
SJI	South Jersey Industries	$0.54
STN	Stantec USA	$0.33
STAA	STAAR Surgical	$0.08
ACAD	Acadia Pharmaceuticals	-$0.47
PDCE	PDC Energy	$0.85
APA	Apache	-$0.10
ANSS	Ansys	$2.54
PSA	Public Storage	$1.93
KW	Kennedy Wilson	$0.07
EPR	EPR Properties	-$0.32
UNVR	Univar Solutions Inc	$0.24
DDD	3D Systems	$0.09
ADPT	Adeptus Health	-$0.29
RVLV	Revolve	$0.11
LB	L Brands	$2.90
GEF	Greif	$0.54
FTI	FMC Technologies	$0.15
ESI	Itt Educational Services	$0.28
MMSI	Merit Medical Systems	$0.43
NOVA	Nova Mentis Life Science Corp	-$0.36
CHDN	Churchill Downs	-$0.39
AGI	Alamos Gold	$0.13
CW	Curtiss-Wright	$2.33
RCII	Rent-A-Center	$1.00
DOOR	Masonite International	$1.14
RDN	Radian	$0.63
FNF	Fidelity National Financial	$1.32
AMED	Amedisys	$1.46
AWK	American Water Works	$0.80
NVDA	Nvidia	$2.80
NTAP	NetApp	$1.01
PTVE	Pactiv Evergreen	$0.25
UFPI	Universal Forest Products	$0.71
TNDM	Tandem Diabetes Care	$0.12
BKNG	Booking Holdings Inc	-$3.85
GBT	BMTC Group	-$0.95
PAC	Grupo Aeroportuario Del Pacifico	$0.67
CIB	Bancolombia	$0.17
PBR	Petroleo Brasileiro Petrobras	$0.15
GGB	Gerdau	$0.07
ASR	Grupo Aeroportuario Del Sureste	$14.83
UGP	Ultrapar Participacoes	$0.05
TS	Tenaris	$0.00
LYG	Lloyds Banking	$0.02
DY	Dycom Industries	$0.05
WB	Weibo	$0.72
SRPT	Sarepta Therapeutics	-$1.99
SSYS	Stratasys	-$0.10
KOF	Coca Cola Femsa Sab De Cv	$0.60
MIDD	Middleby	$1.40
CLGX	CoreLogic	$1.06

Thursday (February 25)

IN THE SPOTLIGHT: SALESFORCE.COM

The San Francisco, California-based global cloud computing company is expected to report a profit of $0.75 in the fourth quarter, which represents year-over-year growth of about 14% from $0.66 per share seen in the same quarter a year ago.

The company, which develops CRM solutions and provides business software on a subscription basis, would post revenue growth of 17% to nearly $5.7 billion.

“While Salesforce remains one of our best secularly positioned names given enterprise IT spend prioritized towards digital transformation, we see current valuation reflective of long-term share gains and achieving management’s target for $50 billion revenue in CY25,” said Keith Weiss, equity analyst at Morgan Stanley.

“At CRM‘s current scale and market cap, an increasing focus on FCF and earnings is necessary for further price appreciation, in our view. However, the recent large ($27 billion) and dilutive acquisition of Slack makes margin expansion in the near to medium term less likely. We look for greater clarity and confidence into revenue growth and margin framework at CRM in order to get more constructive.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE FEBRUARY 25

Ticker	Company	EPS Forecast
AMRN	Amarin	-$0.02
SHEN	Shenandoah Telecommunications	$0.85
NTLA	Intellia Therapeutics Inc	-$0.61
ITCI	Intra Cellular Therapies	-$0.86
SHOO	Steven Madden	$0.21
PLUG	Plug Power	-$0.07
AGIO	Agios Pharmaceuticals	-$1.31
DPZ	Dominos Pizza	$3.88
INSM	Insmed	-$0.67
MRNA	Moderna Inc	-$0.34
PCG	PG&E	$0.21
EME	EMCOR	$1.44
NLSN	Nielsen	$0.46
NRG	NRG Energy	$0.45
BCRX	BioCryst Pharmaceuticals	-$0.24
TREE	LendingTree	-$1.00
AES	AES	$0.43
DCI	Donaldson	$0.51
TD	Toronto-Dominion Bank	$1.16
WWW	Wolverine World Wide	$0.17
AMT	American Tower	$1.25
CCOI	Cogent Communications	$0.21
OGE	OGE Energy	$0.29
SRE	Sempra Energy	$1.58
SJM	J.M. Smucker	$2.17
SAFM	Sanderson Farms	-$0.66
ROCK	Gibraltar Industries	$0.63
CWT	California Water Service	$0.26
W	Wayfair Inc.	$0.82
SEAS	SeaWorld Entertainment	-$0.71
CNP	CenterPoint Energy	$0.19
PZZA	Papa John’s International	$0.48
STWD	Starwood Property	$0.49
EVOP	EVO Payments Inc	$0.21
DOC	Physicians Realty	$0.08
CLNY	Colony Financial	-$0.58
LI	Li Auto	-$0.24
NTES	NetEase	$2.82
PLAN	Progressive Planet	-$0.10
CLF	Cliffs Natural Resources	$0.20
EXLS	ExlService	$1.07
KDP	Keurig Dr Pepper	$0.40
PWR	Quanta Services	$1.00
FSS	Federal Signal	$0.41
FCN	FTI Consulting	$1.17
GIL	Gildan Activewear USA	$0.21
CWH	Camping World Holdings	$0.18
PCRX	Pacira	$0.81
NCLH	Norwegian Cruise Line	-$2.17
TFX	Teleflex	$3.05
FLIR	FLIR Systems	$0.62
VIPS	Vipshop	$3.13
IOVA	Iovance Biotherapeutics	-$0.44
IRTC	iRhythm Tech	-$0.29
MNST	Monster Beverage	$0.55
REGI	Renewable Energy	$0.68
XLRN	Acceleron Pharma	-$0.59
AAON	AAON	$0.29
DRNA	Dicerna Pharmaceuticals	-$0.08
PVG	Pretium Resources	$0.25
LPSN	LivePerson	$0.01
SWI	Solarwinds	$0.25
EIX	Edison International	$1.20
VGR	Vector	$0.18
BMRN	BioMarin Pharmaceutical	-$0.17
EOG	EOG Resources	$0.37
RKT	Rocket Cos. Inc.	$0.88
VICR	Vicor	$0.19
SFM	Sprouts Farmers Market	$0.39
ETSY	ETSY Inc	$0.57
PTCT	PTC Therapeutics	-$0.92
SEM	Select Medical	$0.36
EGO	Eldorado Gold USA	$0.33
SWN	Southwestern Energy	$0.14
ACHC	Acadia Healthcare	$0.68
UHS	Universal Health Services	$2.79
MTZ	MasTec	$1.67
ERIE	Erie Indemnity	$1.09
BVN	Compania De Minas Buenaventura	$0.22
FTCH	Farfetch	-$0.13
WDAY	Workday	$0.55
VMW	VMware	$2.05
HPQ	HP	$0.66
CRM	Salesforce.com	$0.75
MED	Medifast	$2.38
OUT	Outfront Media	-$0.04
PRAH	PRA Health Sciences Inc	$1.47
LHCG	LHC	$1.39
RLJ	RLJ Lodging	-$0.64
STOR	STORE Capital Corp	$0.21
ICUI	ICU Medical	$1.51
CUBE	CubeSmart	$0.20
ENDP	Endo International Ordinary Shares	$0.46
LYV	Live Nation Entertainment	-$2.25
ALTR	ALTAIR ENGINEERING	$0.00
AMH	American Homes 4 Rent	$0.06
CABO	Cable One Inc	$11.60
ADT	ADT	$0.30
RUN	Sunrun Inc	$0.07
CZR	Caesars Entertainment	-$1.94
HHC	Howard Hughes	-$0.70
PK	Park Hotels & Resorts Inc	-$0.90
FOXF	Fox Factory	$0.78
ADSK	Autodesk	$1.07
CWK	Cushman & Wakefield plc	$0.35
FSLR	First Solar	$1.25
NUVA	NuVasive	$0.56
ENV	Envestnet	$0.65
INT	World Fuel Services	$0.23
FIX	Comfort Systems USA	$0.84
NKTR	Nektar Therapeutics	-$0.67
BIG	Big Lots	$2.50
AY	Atlantica Yield	$0.16
PDCO	Patterson Companies	$0.51
KWR	Quaker Chemical	$1.52
AEBZY	Anadolu Efes ADR	$0.01
SWX	Southwest Gas	$1.57
AEP	American Electric Power	$0.78
ARRY	Array Technologies Inc	$0.05
ALXO	Alx Oncology Holdings Inc.	-$0.36
ACIW	ACI Worldwide	$0.49
VIST	Vista Oil Gas	-$0.08
BUD	Anheuser-Busch	$0.89
BAYRY	Bayer AG PK	$0.38
CM	Canadian Imperial Bank Of Commerce USA	$2.19
SRCL	Stericycle	$0.63
BBY	Best Buy	$3.45
ABEV	Ambev	$0.05
NNI	Nelnet	$5.78
AGO	Assured Guaranty	$0.57
BRFS	BRF	$0.08
TEF	Telefonica	$0.23
VALE	Vale	$0.91
NGLOY	Anglo American ADR	$0.62

Friday (February 26)

Ticker	Company	EPS Forecast
CNK	Cinemark	-$1.46
IEP	Icahn Enterprises	-$0.47
EVRG	Evergy Inc	$0.22
LSXMK	Liberty Media SiriusXM C	$0.15
PNM	PNM Resources	$0.15
AMCX	AMC Networks	$0.49
VST	Victory Square Tech	$0.64
BLDR	Builders Firstsource	$0.90
FL	Foot Locker	$1.29
FLR	Fluor New	$0.22
RHP	Ryman Hospitality Properties	-$1.90
STRA	Strayer Education	$1.48
LAMR	Lamar Advertising	$0.78
MGLN	Magellan Health	-$0.30
GRFS	Grifolsbarcelona	$0.22
PEG	Public Service	$0.65