Pre-Open Stock Movers 05/18: Target Plunges on Weak Results, Outlook; National CineMedia Gains on AMC Stake

May 18, 2022 9:24 AM EDT

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Pre-Open Stock Movers:

Target (NYSE: TGT) 25% LOWER; reported Q1 EPS of $2.19, $0.88 worse than the analyst estimate of $3.07. Revenue for the quarter came in at $24.83 billion versus the consensus estimate of $24.47 billion. Comparable sales grew 3.3 percent, on top of 22.9 percent growth last year. For second quarter 2022, the Company expects its operating income margin rate will be in a wide range centered around first quarter's operating margin rate of 5.3 percent. For full-year 2022, the Company continues to expect low- to mid- single digit revenue growth. The Company now expects its full-year operating income margin rate will be in a range centered around 6 percent.

National CineMedia, Inc. (NASDAQ: NCMI) 19% HIGHER; AMC discloses a stake.

Doximity, Inc. (NYSE: DOCS) 13% LOWER; reported Q4 EPS of $0.21, $0.06 better than the analyst estimate of $0.15. Revenue for the quarter came in at $93.7 million versus the consensus estimate of $90.11 million. Doximity, Inc. sees Q1 2023 revenue of $88.6-89.6 million, versus the consensus of $96.8 million. Doximity, Inc. sees FY2023 revenue of $454-458 million, versus the consensus of $452.12 million.

Triumph Group (NYSE: TGI) 13% LOWER; reported Q4 EPS of $0.39, $0.03 worse than the analyst estimate of $0.42. Revenue for the quarter came in at $386.7 million versus the consensus estimate of $405.19 million.

Macy's, Inc. (NYSE: M) 7% LOWER; lower on Target's disappointing results.

Kohl's Corporation (NYSE: KSS) 6% LOWER; lower on Target's disappointing results.

Costco Wholesale Corporation (NASDAQ: COST) 6% LOWER; lower on Target's disappointing results.

BJ's Wholesale Club Holdings, Inc. (NYSE: BJ) 6% LOWER; lower on Target's disappointing results.

Dollar General Corporation (NYSE: DG) 6% LOWER; lower on Target's disappointing results.

TJX Cos. (NYSE: TJX) 5% HIGHER; reported Q1 EPS of $0.68, $0.08 better than the analyst estimate of $0.60. Revenue for the quarter came in at $11.4 billion versus the consensus estimate of $11.6 billion. For the second quarter of Fiscal 2023, the Company expects diluted earnings per share to be in the range of $.65 to $.69. For they year, the Company expects diluted earnings per share in the range of $2.94 to $3.01 and adjusted diluted earnings per share in the range of $3.13 to $3.20.

Lowe's Cos. (NYSE: LOW) 4% LOWER; reported Q1 EPS of $3.51, $0.27 better than the analyst estimate of $3.24. Revenue for the quarter came in at $23.7 billion versus the consensus estimate of $23.8 billion. Consolidated Comparable Sales Decreased 4.0%; U.S. Comparable Sales Decreased 3.8% Lowe's Cos. sees FY2022 EPS of $13.10-$13.60, versus the consensus of $13.38. Lowe's Cos. sees FY2022 revenue of $97-99 billion, versus the consensus of $98.1 billion.

Analog Devices (NASDAQ: ADI) 3% HIGHER; reported Q2 EPS of $2.40, $0.29 better than the analyst estimate of $2.11. Revenue for the quarter came in at $2.97 billion versus the consensus estimate of $2.84 billion. Analog Devices sees Q3 2022 EPS of $2.32-$2.52, versus the consensus of $2.16. Analog Devices sees Q3 2022 revenue of $2.95-3.15 billion, versus the consensus of $2.89 billion.

Tesla (NASDAQ: TSLA) 2% LOWER; Piper Sandler lowered the price target on to $1,035.00 (from $1,260.00) while maintaining a Overweight rating.

Penn National Gaming (NASDAQ: PENN) 2% HIGHER; Jefferies upgraded from Hold to Buy with a price target of $49.00.

Monster Beverage (NASDAQ: MNST) 1% HIGHER; Bernstein upgraded from Market Perform to Outperform with a price target of $110.00 (from $100.00).



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