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The Fund seeks to provide investment results that, before fees and expenses, track the performance of the Index. The Index is a rules-based, equal-weighted index that tracks the performance of the top 100 U.S.-listed ETFs. For this purpose, the term ETFs means exchange-traded investment vehicles, including exchange-traded funds that are registered as investment companies under the Investment Company Act of 1940, as amended (the 1940 Act) and exchange-traded vehicles that are not subject to the registration requirements of the 1940 Act, such as grantor trusts. The Index selects the 100 top ETFs based on a proprietary methodology that ranks eligible ETFs according to size, liquidity and risk-adjusted returns. The Fund uses a replication indexing strategy, which means that the Fund will invest in all or substantially all of the ETFs in the Index such that, after each quarterly rebalancing, 1% of the Funds assets will be invested in each of the 100 ETFs represented by the Index. In certain circumstances, when it is not possible or practicable to purchase or hold an ETF included in the Index to the same extent as represented by the Index due to potentially adverse tax consequences of that ETF or due to other Fund policies or restrictions, the Fund may adjust the Funds holdings such that the Funds weights may deviate from the weights of the Index to the extent necessary to avoid such adverse tax consequences or otherwise comply with Fund policies or restrictions. The ETFs in which the Fund invests are referred to herein as the Underlying ETFs.

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Across the recent three months, 8 analysts have shared their insights on Ralph Lauren (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RL#NYSE">RL</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Ralph Lauren, revealing an average target of $201.0, a high estimate of $250.00, and a low estimate of $180.00. This current average represents a 0.43% decrease from the previous average price target of $201.86. 
<img src="https://www.benzinga.com/files/images/story/2024/1721937673_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Ralph Lauren among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Kernan</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$196.00</td>
<td>$202.00</td>
</tr>
<tr>
<td>Robert Drbul</td>
<td>Guggenheim</td>
<td>Maintains</td>
<td>Buy</td>
<td>$200.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Ike Boruchow</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$180.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$195.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$195.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Jay Sole</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$250.00</td>
<td>$244.00</td>
</tr>
<tr>
<td>John Kernan</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$197.00</td>
<td>$192.00</td>
</tr>
<tr>
<td>Ashley Helgans</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$195.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Ralph Lauren. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Ralph Lauren compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Ralph Lauren's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Ralph Lauren's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/RL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Ralph Lauren analyst ratings.</a>
<h2>Unveiling the Story Behind Ralph Lauren</h2>
Founded by designer Ralph Lauren in 1967 in New York City, Ralph Lauren Corp. designs, markets, and distributes lifestyle products in North America, Europe, and Asia. Its products include apparel, footwear, eyewear, jewelry, handbags, home goods, and fragrances. The company's brands include Ralph Lauren Collection, Polo Ralph Lauren, and Lauren Ralph Lauren. Distribution channels for Ralph Lauren include wholesale (department stores and specialty stores), retail (company-owned retail stores and e-commerce), and licensing.
<h3>Ralph Lauren: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Ralph Lauren's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 1.76%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Ralph Lauren's net margin excels beyond industry benchmarks, reaching 5.78%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 3.61%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Ralph Lauren's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.33%, the company showcases efficient use of assets and strong financial health.
Debt Management: Ralph Lauren's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.09.
<h2>The Significance of Analyst Ratings Explained</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Decoding 8 Analyst Evaluations For Ralph Lauren

News

Buybacks

BANR

Banner Corporation Announces Stock Repurchase Program Of Up To 1,722,787 Shares

Riverview Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVSB#NASDAQ">RVSB</a>) reported quarterly earnings of $0.05 per share which missed the analyst consensus estimate of $0.06 by 16.67 percent. This is a 61.54 percent decrease over earnings of $0.13 per share from the same period last year.

Earnings

Earnings Misses

RVSB

Riverview Bancorp Q1 Adj $0.05 Misses $0.06 Estimate

In the preceding three months, 13 analysts have released ratings for PVH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>), presenting a wide array of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $137.92, a high estimate of $154.00, and a low estimate of $115.00. This upward trend is evident, with the current average reflecting a 2.54% increase from the previous average price target of $134.50.
<img src="https://www.benzinga.com/files/images/story/2024/1721937648_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive PVH. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Kernan</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$149.00</td>
<td>$154.00</td>
</tr>
<tr>
<td>John Kernan</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$154.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Ike Boruchow</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$145.00</td>
<td>$138.00</td>
</tr>
<tr>
<td>Adrienne Yih</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$154.00</td>
<td>$149.00</td>
</tr>
<tr>
<td>Kimberly Greenberger</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$120.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Heather Balsky</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$144.00</td>
<td>$122.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$140.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Simeon Siegel</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$119.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Michael Binetti</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$145.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Tom Nikic</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$128.00</td>
<td>$128.00</td>
</tr>
<tr>
<td>Michael Binetti</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$140.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$140.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Ashley Helgans</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Hold</td>
<td>$115.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to PVH. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of PVH compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of PVH's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of PVH's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/PVH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on PVH analyst ratings.</a>
<h2>All You Need to Know About PVH</h2>
PVH designs and markets branded apparel in more than 40 countries. Its key fashion categories include men's dress shirts, ties, sportswear, underwear, and jeans. Its two designer brands, Calvin Klein and Tommy Hilfiger, now generate practically all its revenue after its recent disposition of its smaller brands. PVH operates e-commerce sites and about 1,500 stores, licenses its brands to third parties, and distributes its merchandise through department stores and other wholesale accounts. The firm traces its history to 1881 and is based in New York City.
<h3>PVH: Financial Performance Dissected</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Decline in Revenue: Over the 3 months period, PVH faced challenges, resulting in a decline of approximately -9.55% in revenue growth as of 30 April, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Net Margin: PVH's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 7.76%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.97%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): PVH's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.38% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.7.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

13 Analysts Have This To Say About PVH

Former Speaker of the House Nancy Pelosi&#8216;s (D-Calif.) latest endorsement of a political candidate could anger billionaire Elon Musk ahead of<a href="https://www.benzinga.com/topic/2024-election"> the 2024 election.</a>
What Happened: <a href="https://www.benzinga.com/general/politics/24/07/39892716/nancy-pelosi-endorses-kamala-harris-for-president-full-confidence-that-she-will-lead-us-to-victo">After Pelosi endorsed </a>Vice President Kamala Harris in the 2024 presidential election, she backed San Francisco Supervisor Dean Preston in his re-election campaign. 
Preston, a local official in Pelosi's Congressional district, is said to be ultra-progressive.  
"This is a powerful endorsement from one of San Francisco's most powerful leaders, and I look forward to working with Speaker Emerita Pelosi in our united effort to defeat Donald Trump," Preston said in a statement to <a href="https://www.politico.com/news/2024/07/24/pelosi-endorses-progressive-san-francisco-00170980">Politico</a>.
Last year, Musk said Preston should be in prison for his supporting an ordinance that would make it illegal for security guards to use firearms in attempts to stop theft. Preston's stance on crime has been a hot topic for tech entrepreneurs.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dean Preston should go to prison
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1707725140618858935?ref_src=twsrc%5Etfw">September 29, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Democrat Bilal Mahmood, a tech entrepreneur and former administration staffer under President Barack Obama, is running against Preston.
Musk has previously said he would spend $100,000 in an effort to defeat Preston from getting re-elected. It is not known if Musk donated to the race with Mahmood saying he hasn't received any from the billionaire.
Read Also: <a href="https://www.benzinga.com/news/23/10/35253772/elon-musk-confirms-sf-supervisor-dean-preston-quit-x-following-repeated-clashes-with-billionaire-own">Elon Musk Confirms SF Supervisor Dean Preston Quit X Following Repeated Clashes With Billionaire Owner</a>
Why It's Important: San Francisco supervisors act similarly to city council members, according to the report, with tasks like local policy and budget.
The region's retail theft, drug overdoses and homelessness issues have brought in national attention and increased attention from tech leaders who have headquarters in the area.
The local race could now see even more attention if Musk steps up to endorse and financially support Democratic and Republican challengers to Preston. Or Musk could choose to stay out as he recently announced he was moving the company headquarters of SpaceX and X from <a href="https://www.benzinga.com/news/24/07/39804744/spacex-x-to-move-headquarters-from-california-to-texas-musk-calls-it-the-final-straw-criticizes-gov">California to Texas.</a>
Pelosi's husband Paul Pelosi has invested in Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock over the years, <a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol">but recently sold </a>2,500 shares in June valued at $250,000 to $500,000.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39695004/elon-musk-warren-buffett-nancy-pelosi-jensen-huang-michael-saylor-who-you-sitting-by-on-a-p">Elon Musk, Warren Buffett, Nancy Pelosi, Jensen Huang, Michael Saylor: Who You Sitting By On A Plane For A 10-Hour Flight?</a></li>
</ul>
Image: Shutterstock

Politics

TSLA

Musk Vs. Pelosi: Former Speaker Backs Candidate That The Tesla CEO Says Should Be In Prison

During the last three months, 7 analysts shared their evaluations of SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>), revealing diverse outlooks from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $90.14, a high estimate of $98.00, and a low estimate of $81.00. This current average represents a 0.95% decrease from the previous average price target of $91.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1721937638_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of SouthState among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Russell Gunther</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$88.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$81.00</td>
<td>$84.00</td>
</tr>
<tr>
<td>Stephen Scouten</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$98.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Catherine Mealor</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Michael Rose</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$90.00</td>
<td>-</td>
</tr>
<tr>
<td>Stephen Scouten</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$95.00</td>
<td>$98.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$84.00</td>
<td>$89.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to SouthState. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of SouthState compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of SouthState's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of SouthState's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SSB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on SouthState analyst ratings.</a>
<h2>Unveiling the Story Behind SouthState</h2>
SouthState Corp is a United States-based bank holding company. It provides a wide range of banking services and products to its customers through a wholly-owned bank subsidiary, South State Bank. The Bank provides retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans through financial centers in Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. These services include demand, time and savings deposits, lending and credit cards servicing, ATM processing, and wealth management and trust services.
<h3>Breaking Down SouthState's Financial Performance</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: SouthState's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -8.2%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: SouthState's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 27.69%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 2.08%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.26%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: SouthState's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.07.
<h2>The Basics of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where SouthState Stands With Analysts

FirstCash Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCFS#NASDAQ">FCFS</a>) has outperformed the market over the past 20 years by 4.58% on an annualized basis producing an average annual return of 12.86%. Currently, FirstCash Hldgs has a market capitalization of $5.12 billion. 
Buying $100 In FCFS: If an investor had bought $100 of FCFS stock 20 years ago, it would be worth $1,126.10 today based on a price of $112.61 for FCFS at the time of writing.
<h3>FirstCash Hldgs's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721937626_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

FCFS

If You Invested $100 In This Stock 20 Years Ago, You Would Have $1,100 Today

TotalEnergies SE (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tte#NYSE">TTE</a>) reported second-quarter 2024 operating earnings of $1.98 (&euro;1.85) per share, missing the Zacks Consensus Estimate of $2.11 by 6.2%.
The bottom line declined 0.5% from the year-ago figure of $1.99 (&euro;1.84). The year-over-year decline was due to lower refining margins.
<h3>Total Revenues</h3>
Total revenues for the second quarter were $53.7 billion, which lagged the year-ago reported revenues of $56.3 billion by 4.5%.
<div class="chart_embed">
<h3>TotalEnergies SE Sponsored ADR Price, Consensus and EPS Surprise</h3>
<img alt="TotalEnergies SE Sponsored ADR Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c8/1721910498.png" style="height:283px; width:620px" title="" />
TotalEnergies SE Sponsored ADR price-consensus-eps-surprise-chart | TotalEnergies SE Sponsored ADR Quote
</div>
<h3>Production</h3>
In the second quarter, hydrocarbon production averaged 2,441 thousand barrels of oil equivalent per day, down 1% year over year. The decline was due to a planned maintenance outage. The hydrocarbon production volumes were near the upper end of the guidance range of 2,400-2,450 thousand barrels of oil equivalent per day.
In the reported quarter, liquid production averaged 1,477 thousand barrels per day, down 6% year over year.
Quarterly gas production was 5,180 thousand cubic feet per day, up 7% year over year, attributed to higher gas output from all regions across the globe where TotalEnergies has natural gas operations.
<h3>Realized Price</h3>
Quarterly realized price for Brent was up 9% to $85 per barrel from $78.1 in the year-earlier period. The average realized liquid price was $81 per barrel, up 13% year over year.
Realized gas prices were down 16% year over year to $5.05 per thousand British thermal units (Btu).
Realized LNG prices were down 5% year over year to $9.32 per thousand Btu.
<h3>Highlights of the Release</h3>
TotalEnergies continued with its multi-energy strategy with a focus on renewable energy. The company further upgraded its portfolio, through acquisitions in Malaysia and deep offshore Congo, and divestments of mature assets in Nigeria, Congo, the United Kingdom and Brunei. In addition, TTE continues to increase medium-term oil exposure within its LNG portfolio by signing two new mid-term Brent-indexed LNG sales contracts in Asia for 1.3 Mt/y.
Net operating income was $5.33 billion, down 4% year over year due to lower refining margins.
Interest expenses were $725 million, nearly at par with the prior-year period.
In the second quarter of 2024, TotalEnergies acquired assets worth $544 million and sold assets worth $324 million.
It repurchased 28.1 million shares in second-quarter 2024 for $2 billion. TotalEnergies repurchased 58.7 million shares in the first half of 2024 for $4 billion.
<h3>Segmental Detail</h3>
Exploration &amp; Production&#39;s operating earnings were $2.67 billion, up 14% from $2.35 billion in the year-ago period.
Integrated LNG&#39;s operating income was $1.15 billion, down 13% from $1.33 billion in the year-earlier quarter.
Integrated Power&#39;s operating income of $502 million rose 12% from $450 million in the year-ago quarter.
Refining &amp; Chemicals&#39; operating income of $0.64 billion declined 36% from $1 billion in the prior year quarter.
Marketing &amp; Services&#39; operating income of $379 million fell 16% from $449 million in second-quarter 2023.
<h3>Financial Update</h3>
Cash and cash equivalents as of Jun 30, 2024, were $23.1 billion compared with $25.6 billion as of Jun 30, 2023. Gearing, including leases, was 15.3% at the end of second-quarter 2024 compared with 16.3% at second-quarter 2023-end.
Cash flow from operating activities at the second-quarter end was $4.5 billion.
<h3>Guidance</h3>
TotalEnergies expects third-quarter 2024 hydrocarbon production in the range of 2,400-2,450 thousand barrels of oil equivalent per day. The guidance takes into consideration the contribution from the startup of Anchor, in the U.S. Gulf of Mexico.
TTE anticipates investing in the range of $17-$18 billion in 2024, of which $5 billion will be dedicated to Integrated Power.
In third-quarter 2024, TTE expects the refining utilization rate to be more than 85%, benefiting from the restart of the Donges refinery in France.
<h3>Zacks Rank</h3>
TotalEnergies currently carries a Zacks Rank #3 (Hold).
<h3>Upcoming Releases</h3>
Shell Plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shel#NYSE">SHEL</a>) is going to release second-quarter 2024 earnings on Aug 1. The Zacks Consensus Estimate for earnings is pegged at $1.87 per share, suggesting a decline of 32.7% from the year-ago reported figure.
SHEL&#39;s long-term (three-to-five-year) earnings growth rate is anticipated to be 5.14%. SHEL had an average earnings surprise of 9.15% in the last four reported quarters.
ExxonMobil (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) is going to release second-quarter 2024 earnings on Aug 2. The Zacks Consensus Estimate for earnings is pegged at $2.08 per share, indicating an increase of 7.2% from the year-ago reported figure. XOM&#39;s long-term earnings growth rate is anticipated to be 3%.
Occidental Petroleum (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) is going to release second-quarter 2024 earnings on Aug 7. The Zacks Consensus Estimate for earnings is pegged at 83 cents per share, implying an increase of 22.06% from the year-ago reported figure.
OXY had an average earnings surprise of 11.45% in the last four reported quarters.
<a href="https://www.zacks.com/stock/news/2309176/totalenergies-tte-q2-earnings-and-revenues-lag-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309176">To read this article on Zacks.com click here.</a>

Guidance

Markets

SHEL

TotalEnergies Q2 Earnings and Revenues Lag Estimates

Howmet Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) has outperformed the market over the past 5 years by 21.44% on an annualized basis producing an average annual return of 33.9%. Currently, Howmet Aerospace has a market capitalization of $33.86 billion. 
Buying $100 In HWM: If an investor had bought $100 of HWM stock 5 years ago, it would be worth $430.24 today based on a price of $82.94 for HWM at the time of writing.
<h3>Howmet Aerospace's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721937621_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Howmet Aerospace 5 Years Ago Would Be Worth Today

George Kurtz, the CEO of cybersecurity firm <a href="https://www.benzinga.com/quote/CRWD">CrowdStrike</a>, is under the spotlight for a massive tech failure. Last Friday, a faulty update from CrowdStrike caused a worldwide tech outage that disrupted banks, airlines, retailers, and more. Shockingly, this isn&#8217;t Kurtz&#8217;s first rodeo with a tech catastrophe.
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From 2009 to 2011, Kurtz was the Chief Technology Officer at McAfee, another major name in cybersecurity. In 2010, McAfee released a flawed update that mistakenly identified a critical Windows file, &#8220;svchost.exe,&#8221; as a virus. This critical error crashed millions of computers and got them stuck in reboot loops.&nbsp;
Just like last week, the only fix was a manual intervention, and similarly, that whole debacle created chaos for countless users and businesses.&nbsp;
See Also: <a href="https://www.benzinga.com/money/fundrise-innovation-fund">Don&#8217;t miss out on the next Nvidia &#8211; you can invest in the future of AI for only $10.</a>
<h2 class="wp-block-heading">The Ripple Effects Of The CrowdStrike Update Mess</h2>
The impact of CrowdStrike&#8217;s faulty update was massive. According to Business Insider, major airlines like American, United, and <a href="https://www.benzinga.com/news/24/07/39915506/delta-air-lines-needs-more-recovery-time-after-crowdstrike-outage-flight-disruptions-to-extend-2-mor">Delta had to ground flights</a>, leaving thousands of passengers stranded and causing travel chaos. European airlines, like Ryanair, also faced big delays and told passengers to arrive early to deal with the mess.
The UK&#8217;s National Health Service (NHS) reported issues with appointment and patient record systems, even canceling medical procedures and appointments. In Germany, hospitals were forced to also cancel elective operations, adding to the strain on health care providers already dealing with other pressures.
Retail operations were not spared either. Some Speedway gas stations in the U.S. had to close because digital gas pumps failed, and others could not accept payments.
Trending: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
<h2 class="wp-block-heading">Why Did This Happen?</h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">CrowdStrike is actively working with customers impacted by a defect found in a single content update for Windows hosts. Mac and Linux hosts are not impacted. This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed. We…
&mdash; George Kurtz (@George_Kurtz) <a href="https://twitter.com/George_Kurtz/status/1814235001745027317?ref_src=twsrc%5Etfw">July 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The <a href="https://www.benzinga.com/24/07/39903295/how-a-faulty-cybersecurity-update-from-crowdstrike-unleashed-chaos-on-global-infrastructure-while-mi">root cause of the disaster</a> was a defect in a single update for Windows provided by CrowdStrike that led to widespread system failures. The issue was not the result of a cyberattack but rather a critical flaw in the update&#8217;s coding. When released, it triggered a series of malfunctions in less than 1% of Windows machines.&nbsp;
Despite the relatively small percentage, the number of systems affected was enough to <a href="https://www.benzinga.com/news/24/07/39879895/if-youre-a-lawyer-for-crowdstrike-youre-probably-not-going-to-enjoy-the-rest-of-your-summer-say-dan">create global chaos</a>. In response to <a href="https://x.com/Qlder/status/1814241127119110326">Kurtz&#8217;s tweet</a>, one Twitter user pointed out how little it takes to &#8220;bring down half the computers around the world.&#8221;
CrowdStrike&#8217;s immediate response included identifying the issue, isolating it, and deploying a fix. However, Microsoft stated that some users fixed their problems by rebooting the system 15 times.&nbsp;
CrowdStrike&#8217;s admission that such a huge error was not caught during testing has raised serious questions about its internal processes and safeguards.
Trending: Rory McIlroy&#8217;s mansion in Florida is worth $22 million today, doubling from 2017 —<a href="https://benzinga.com/money/rory-mcilroys-florida-mansion-doubled-in-value"> here&#8217;s how to get started investing in real estate with just $100</a>
<h2 class="wp-block-heading">History Repeating Itself</h2>
This incident has brought George Kurtz&#8217;s past into sharp focus. In 2010, as McAfee&#8217;s CTO, Kurtz was at the helm during another significant tech failure. The problem was eerily similar, and the fallout was substantial, with McAfee facing severe criticism and a loss of customer trust.&nbsp;
Since Thursday, the day before the outage, CrowdStrike stock has lost around 21% of its value, and Kurtz&#8217;s net worth plummeted from $3.2 billion to $2.6 billion on Wednesday, the 24th, according to Forbes.&nbsp;&nbsp;&nbsp;
Given this history, many are now wondering how Kurtz, with all his experience, let something like this happen again at CrowdStrike. The company has promised to investigate thoroughly to determine how the mistake happened and to implement measures to prevent it. However, fixing the damage to its reputation might take a while.
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<li>Can you guess which type of investments Morgan Stanley says will reach $2.7 trillion by 2027?<a href="https://www.benzinga.com/money/percent"> It even offers up to 20% APY potential to accredited investors up to $300 back in bonus for new users.</a></li>
</ul>

Startups

CrowdStrike CEO Involved In Another Global Tech Disaster Years Ago? Unbelievably, Yes

JMP Securities analyst Andrew Boone reiterates Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Market Outperform and maintains $180 price target.

Price Target

Reiteration

JMP Securities Reiterates Market Outperform on Wix.com, Maintains $180 Price Target

WIIM

CVLG

Covenant Logistics shares are trading higher after the company reported better-than-expected Q2 earnings.

Willis Towers Watson shares are trading higher after the company reported better-than-expected Q2 earnings and raised its FY24 EPS guidance.

PG&amp;E Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pcg#NYSE">PCG</a>) reported second-quarter 2024 adjusted earnings per share of 31 cents, which surpassed the Zacks Consensus Estimate of 30 cents by 3.3%. The bottom line also improved 34.8% from the year-ago quarter&#39;s reported figure.
The company reported GAAP earnings of 24 cents per share compared with 19 cents in the prior-year quarter.
The year-over-year improvement in the bottom line can be attributed to an increase in customer capital investment and non-fuel operating and maintenance (O&amp;M) savings.
<h3>Revenue Update</h3>
PCG reported second-quarter total revenues of $5.99 billion, up 13.2% from $5.29 billion registered in the year-ago period. Operating revenues also surpassed the Zacks Consensus Estimate of $5.83 billion by 2.7%.
<div class="chart_embed">
<h3>Pacific Gas &amp; Electric Co. Price, Consensus and EPS Surprise</h3>
<h3><img alt="Pacific Gas &amp; Electric Co. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ff/1721914359.png" style="height:265px; width:574px" title="" /></h3>
Pacific Gas &amp; Electric Co. price-consensus-eps-surprise-chart | Pacific Gas &amp; Electric Co. Quote
</div>
<h3>Operational Highlights</h3>
Total operating expenses in the second quarter of 2024 were $4.85 billion, up 1.4% from the prior-year reported figure.
The company reported an operating income of $1.13 billion compared with $0.51 billion a year ago.
Interest expenses totaled $812 million compared with $640 million in the prior-year quarter.
<h3>Financials</h3>
As of Jun 30, 2024, cash and cash equivalents totaled $1.32 billion compared with $0.64 billion as of Dec 31, 2023.
Cash flow from operating activities amounted to $2.97 billion for the second quarter of 2024 compared with $2.46 billion in the second quarter of 2023.
Capital expenditures totaled $4.94 billion during the second quarter compared with $4.68 billion in the corresponding period of 2023.
As of Jun 30, 2024, the long-term debt amounted to $52.66 billion compared with $50.98 billion as of Dec 31, 2023.
<h3>Guidance</h3>
PG&amp;E reaffirmed its 2024 adjusted EPS guidance. The company still expects to generate adjusted earnings in the range of $1.33-$1.37 per share. The Zacks Consensus Estimate for 2024 earnings is pegged at $1.35 per share, which came in line with the midpoint of the company&#39;s guided range.
<h3>Zacks Rank</h3>
PG&amp;E currently carries a Zacks Rank #2 (Buy).
<h3>Recent Utility Releases</h3>
AVANGRID, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/agr#NYSE">AGR</a>) reported second-quarter 2024 earnings of 49 cents per share, which surpassed the Zacks Consensus Estimate of 27 cents by 81.5%. The bottom line also increased 133.3% from the year-ago quarter&#39;s figure of 21 cents.
Operating revenues amounted to $1.92 billion, which beat the Zacks Consensus Estimate of $1.72 billion by 11.9%. The top line also increased 21.2% from $1.59 billion reported in the comparable period of 2023.
NextEra Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nee#NYSE">NEE</a>) reported second-quarter 2024 adjusted earnings of 96 cents per share, which beat the Zacks Consensus Estimate of 93 cents by 3.2%. The bottom line was also up nearly 9.1% year over year.
In the second quarter, NextEra Energy&#39;s operating revenues were $6.06 billion, which lagged the Zacks Consensus Estimate of $7.26 billion by 16.8%. The top line plunged 17.4% year over year.
CMS Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cms#NYSE">CMS</a>) reported second-quarter 2024 adjusted earnings per share of 66 cents, which beat the Zacks Consensus Estimate of 63 cents by 4.8%. However, the bottom line declined 12% from 75 cents reported in the prior-year quarter.
Operating revenues totaled $1.61 billion, which lagged the Zacks Consensus Estimate of $1.69 billion by 5%. However, the top line increased 3.3% on a year-over-year basis.
<a href="https://www.zacks.com/stock/news/2309167/pg-e-pcg-q2-earnings-top-estimates-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309167">To read this article on Zacks.com click here.</a>

Earnings Beats

PG&E Q2 Earnings Top Estimates, Revenues Increase Y/Y

JMP Securities analyst Patrick Walravens maintains ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) with a Market Outperform and raises the price target from $825 to $850.

JMP Securities Maintains Market Outperform on ServiceNow, Raises Price Target to $850

Salesforce Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are on the rise Thursday, potentially influenced by ServiceNow Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) second-quarter earnings report. Here&#8217;s<a href="https://www.benzinga.com/news/24/07/39939566/whats-going-on-with-salesforce-crm-stock"> what you need to know.</a>
What Happened: Significant options trading for Salesforce suggests mixed investor sentiment, with 40% bullish and 45% bearish activity. Analysts project Salesforce's price range to be between $195.00 and $290.00.
On the other hand, ServiceNow&#8217;s earnings were driven by strong U.S. federal business and AI software adoption. ServiceNow reported $2.63 billion in revenue, surpassing the consensus estimate of $2.61 billion. 
The company also exceeded earnings expectations with EPS that outperformed analysts&#8217; projections. This strong performance has boosted ServiceNow&#8217;s shares by 6.04% to $775.00 and appears to be positively impacting Salesforce.
Why It Matters: ServiceNow&#8217;s and Salesforce's expansion into AI-driven customer support solutions highlights increasing competition between the two companies. 
Both companies are leveraging AI to enhance customer service and business operations, positioning them as leading rivals in the customer relationship management and enterprise software market. This competition is set to shape the future of AI in customer support, impacting both companies&#8217; market positions and investor interests.
CRM Price Action: Salesforce shares were up by 3.05% at $257.40 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/checkout/benzinga-pro-essential-2024?utm_source=BZprocontent072524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="531" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-1024x531.png" alt="" class="wp-image-457719" style="width:465px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-1024x531.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM-768x398.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/25143725/CRM.png 1089w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39967398/gold-down-2-5-northrop-grumman-posts-upbeat-earnings">Gold Down 2.5%; Northrop Grumman Posts Upbeat Earnings</a></li>
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Movers

What's Going On With Salesforce Shares Today?

JMP Securities analyst Mitch Germain maintains Getty Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTY#NYSE">GTY</a>) with a Market Outperform and raises the price target from $31.5 to $33.

JMP Securities Maintains Market Outperform on Getty Realty, Raises Price Target to $33

Independent Bank Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indb#NASDAQ">INDB</a>) appears an attractive pick given a noticeable improvement in the company&#39;s earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
The upward trend in estimate revisions for this holding company for Rockland Trust reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Independent Bank Corp. There has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
<img alt="" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/INDB.png" style="width:100%" title="" />
Current-Quarter Estimate Revisions
The company is expected to earn $1.20 per share for the current quarter, which represents a year-over-year change of -13.04%.
Over the last 30 days, the Zacks Consensus Estimate for Independent Bank Corp. has increased 9.09% because three estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $4.75 per share, representing a year-over-year change of -12.36%.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Independent Bank Corp. Over the past month, three estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 6.5%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Independent Bank Corp. currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&amp;P 500.
Bottom Line
Investors have been betting on Independent Bank Corp. because of its solid estimate revisions, as evident from the stock&#39;s 32% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.
<a href="https://www.zacks.com/stock/news/2309313/can-independent-bank-corp-indb-run-higher-on-rising-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_8-2309313">To read this article on Zacks.com click here.</a>

INDB

Can Independent Bank Corp. Run Higher on Rising Earnings Estimates?

Biotech

General

FDA Advisory Committee Reviewed Imfinzi For Resectable Non-Small Cell Lung Cancer Based On Phase III Trial Results; AstraZeneca Reports Imfinzi Met Primary Endpoint Of Event-Free Survival And Was Generally Well Tolerated With No New Safety Signals

CBRE Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cbre#NYSE">CBRE</a>) reported second-quarter 2024 core earnings per share of 81 cents, ahead of the Zacks Consensus Estimate of 69 cents. However, the reported figure declined 1.2% year over year.
Reflecting positive sentiments, shares of CBRE were up more than 9% so far today. Results reflect growth in its resilient lines of business. Global Workplace Solutions (&quot;GWS&quot;) experienced strong business wins with a healthy balance of new clients and expansion. The leasing business performed well due to office leasing revenue growth in the United States, driven by strength in New York. However, the Real Estate Investments segment&#39;s revenues decreased year over year.
Quarterly revenues were up 8.7% year over year to $8.39 billion but compared unfavorably with the Zacks Consensus Estimate of $8.52 billion.
Net revenues increased 11% (11.7% in local currency) year over year to $4.97 billion. Core EBITDA rose marginally (1.7% in local currency) to $505 million.
<h3>Quarter in Detail</h3>
CBRE Group&#39;s Advisory Services segment reported a year-over-year revenue increase of 8.6% (9.3% in local currency) to $2.22 billion. Our estimate was nearly the same as reported number.
Global leasing revenues rose 9% (same local currency), driven by leasing revenue growth in the Americas and Asia-Pacific regions.
Global sales revenues fell 3% (2% in local currency) even though property sales revenues began to stabilize. However, mortgage origination revenue rose 38% (same local currency) due to a 20% increase in loan origination fees and higher interest earnings on escrow balances.
The GWS segment registered a year-over-year increase of 9.5% (10.3% in local currency) in revenues to $5.94 billion. Our estimate was pegged at $5.98 billion.
Paced by the sustained strength in the Local business, Facilities management net revenues rose 18% (19% in local currency). Project management net revenues increased 11% (12% in local currency) due to the continued strong growth in Turner &amp; Townsend. Net operating margin improved 20 basis points compared with first-quarter 2024, reflecting the early benefit of recent cost actions, but was below the prior-year period.
The Real Estate Investments segment experienced a decrease of 9.2% (same local currency) in revenues to $232 million.
At the end of the second quarter of 2024, assets under management decreased $1.5 billion from the first quarter of 2024 to $142.5 billion due to lower asset values and an adverse foreign currency movement.
In the second quarter of 2024, CBRE acquired Direct Line Global, which is a leading provider of technical facilities management services for data center owners and operators, for a total cash and non-cash consideration of $290.9 million. CBRE also acquired a provider of local facilities management technical services in Canada.
During the quarter, CBRE also announced its plan to combine its project management business with its Turner &amp; Townsend subsidiary.
<h3>Balance Sheet Position</h3>
CBRE Group exited the second quarter of 2024 with cash and cash equivalents of $928 million, down from $1.04 billion as of Mar 31, 2024.
As of Jun 30, 2024, CBRE Group had $3.7 billion in total liquidity. This comprised nearly $927.7 million in cash in addition to the ability to borrow a total of approximately $2.7 billion under its revolving credit facilities, net of any outstanding letters of credit. The company&#39;s net leverage ratio was 1.58x as of the same date, significantly less than CBRE&#39;s primary debt covenant of 4.25x.
During the June-end quarter, the company repurchased approximately 0.6 million shares for $48.4 million. As of Jun 30, 2024, it had $1.4 billion of stock-repurchase capacity remaining under its authorized buyback program.
<h3>Outlook</h3>
For 2024, CBRE projects its core EPS in the range of $4.70-$4.90, up from the previous guided range of $4.25-$4.65. The company expects approximately over 45% of its full-year core EPS to be achieved in the fourth quarter of 2024. The Zacks Consensus Estimate for the same is currently pegged at $4.48, which is below the guided range.
Currently, CBRE Group carries a Zacks Rank #3 (Hold).
<div class="chart_embed">
<h3>CBRE Group, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="CBRE Group, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/96/1721919867.png" style="height:265px; width:577px" title="" />
CBRE Group, Inc. price-consensus-eps-surprise-chart | CBRE Group, Inc. Quote
</div>
<h3>Upcoming Releases</h3>
It&#39;s time to look forward to two stocks from the real estate operation industry, Jones Lang LaSalle Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jll#NYSE">JLL</a>) and Kennedy-Wilson Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kw#NYSE">KW</a>). While Jones Lang LaSalle is slated to report quarterly numbers on Aug 6, Kennedy-Wilson Holdings is scheduled to come up with its figures on Aug 7.
The Zacks Consensus Estimate for Jones Lang LaSalle&#39;s second-quarter 2024 EPS stands at $2.27, which suggests a significant increase on a year-over-year basis. JLL currently carries a Zacks Rank of 3.
The Zacks Consensus Estimate for Kennedy-Wilson Holdings&#39; second-quarter 2024 loss per share is pegged at 24 cents, which implies a substantial decrease year over year. KW currently carries a Zacks Rank of 2 (Buy).
<a href="https://www.zacks.com/stock/news/2309308/cbre-group-cbre-q2-earnings-beat-2024-outlook-raised?cid=CS-BENZ-FT-analyst_blog|earnings_article-2309308">To read this article on Zacks.com click here.</a>

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