Latest news for Procurri (OTC:PRCRF) Stock

Procurri Corp Ltd is an independent provider of IT lifecycle services and data centre equipment. It operates in the Hardware, Lifecycle Services and IT Asset Disposition; and Third Party Maintenance segments. The Hardware, Lifecycle Services segment which accounts for the majority of revenue resells hardware products such as pre-owned servers, storage, and networking equipment, and provides supply chain management. The Third Party Maintenance segment is the rendering of information technology maintenance services for a variety of (IT) systems and networks; hardware as a service on a transaction-based pricing model as well as sales of maintenance parts tied to systems on the renewable contract and professional services tied to systems on the renewable contracts.

Procurri Corp Ltd

Benchmark analyst Mark Miller reiterates nLight (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LASR#NASDAQ">LASR</a>) with a Speculative Buy and maintains $17 price target.

News

Price Target

Reiteration

Analyst Ratings

LASR

Benchmark Reiterates Speculative Buy on nLight, Maintains $17 Price Target

Brazil's Petrobras Bids For 40% Of Galp Energia's Mopane Oil Prospect In Namibia With At Least One Partner; Sees Potential In Mopane Field But Aims To Dilute Exploration Risks With Partners

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock has been scrutinized by hedge fund Elliott Management, which labeled the company a &#8220;bubble&#8221; due to overhyped artificial intelligence (AI) technology driving its share price.
Elliott Management, which oversees about $70 billion in assets, expressed skepticism about Big Tech companies&#8217; continued high-volume purchases of Nvidia&#8217;s graphics processing units.
In a letter to clients seen by the <a target="_blank" href="https://www.ft.com/content/24a12be1-a973-4efe-ab4f-b981aee0cd0b" rel="noreferrer noopener">Financial Times</a>, Elliott Management stated that AI is &#8220;overhyped,&#8221; with many applications not ready for prime time and unlikely to become cost-efficient or reliable. The stock is trading lower on Friday.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39982477/amazon-tests-ai-chips-in-texas-lab-aims-to-cut-nvidia-costs" rel="noreferrer noopener">Amazon Tests AI Chips in Texas Lab, Aims to Cut Nvidia Costs</a>
Elliott Management&#8217;s warning coincided with the chip sector facing a downturn amid concerns about the sustainability of AI investment <a target="_blank" href="https://www.benzinga.com/news/24/07/39988252/ai-chip-stocks-nvidia-amd-rebound-whats-driving-the-reversal" rel="noreferrer noopener">and geopolitical tensions</a>.
Nvidia lost 12.4% in the last 30 days as the U.S. intensified its advanced semiconductor embargo on China and braced for the Presidential elections.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02114551/newplot-2.png" alt="" class="wp-image-473666" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02114551/newplot-2.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02114551/newplot-2-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Meanwhile, Elliott highlighted that many proposed AI uses might not work efficiently, consume excessive energy, or prove untrustworthy.
Intel Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares, for example, fell 20% after announcing <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction" rel="noreferrer noopener">weak Q2 results</a> and plans to cut about 15,000 jobs, reflecting broader market anxiety.
Separately, the U.S. Department of Justice <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40124435/nvidia-down-nearly-4-in-pre-market-trading-as-doj-reportedly-launches-antitrust-probe-over-alleg" rel="noreferrer noopener">commenced an antitrust review</a> against Nvidia over alleged monopolistic practices in the AI chip market.
Price Actions: NVDA shares are down 3.07% at $105.86 at the last check on Friday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com//node/40078235" target="_blank" rel="noreferrer noopener">Biden Rule On Semiconductor Exports To China Is &#8216;Huge Positive&#8217; For Chip Sector, Supply Chain: Dan Ives</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Movers

Tech

Media

INTC

NVDA

What's Going On With Nvidia Stock On Friday?

Roth MKM analyst Harry Fong maintains MGIC Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTG#NYSE">MTG</a>) with a Buy and raises the price target from $24 to $30.

Roth MKM Maintains Buy on MGIC Investment, Raises Price Target to $30

Roth MKM analyst George Kelly maintains Xponential Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPOF#NYSE">XPOF</a>) with a Buy and lowers the price target from $22 to $19.

XPOF

Roth MKM Maintains Buy on Xponential Fitness, Lowers Price Target to $19

Benchmark analyst Christopher Kuhn maintains Schneider National (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDR#NYSE">SNDR</a>) with a Buy and raises the price target from $27 to $30.

SNDR

Benchmark Maintains Buy on Schneider National, Raises Price Target to $30

WIIM

DELL

PSTG

Shares of hardware and storage stocks are trading lower following soft outlook from Intel.

United States Steel Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) logged a profit of $183 million or 72 cents per share for second-quarter 2024, down from a profit of $477 million or $1.89 per share in the year-ago quarter.
Barring one-time items, adjusted earnings per share were 84 cents, down from $1.92 a year ago. The figure, however, topped the Zacks Consensus Estimate of 76 cents.
Revenues fell around 18% year over year to $4,118 million in the reported quarter. The figure, however, surpassed the Zacks Consensus Estimate of $3,998.2 million.
The company reported a total shipment of 3,591,000 tons for the reported quarter, down around 9% year over year. It was below our estimate of 3,744,000 tons. The company faced pricing headwinds across its segments during the reported quarter.
<div class="chart_embed">
<h3>United States Steel Corporation Price, Consensus and EPS Surprise</h3>
<img alt="United States Steel Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ea/1722591063.png" style="height:265px; width:576px" title="" />
United States Steel Corporation price-consensus-eps-surprise-chart | United States Steel Corporation Quote
</div>
<h3>Segment Highlights</h3>
Flat-Rolled: The segment recorded a profit of $183 million in the reported quarter, down around 21% from the year-ago quarter.
Steel shipments in the segment went down roughly 9% year over year to 2,045,000 tons. The average realized price per ton in the unit was $1,051, down around 3% year over year. It was below our estimate of $1,056.
Mini Mill: The segment recorded a profit of $28 million in the quarter, down around 79% year over year. Shipments were 562,000 tons, down around 4% year over year. The average realized price per ton was $869, down around 14% year over year. It was above our estimate of $798.
U.S. Steel Europe: The segment posted a loss of $10 million in the reported quarter. This compares to a profit of $72 million a year ago. Shipments fell roughly 15% year over year to 875,000 tons. The average realized price per ton for the unit was $821, down around 15% year over year. It was below our estimate of $829.
Tubular:&nbsp; The segment posted a profit of $29 million in the reported quarter, down roughly 82% year over year. Shipments fell roughly 2% to 109,000 tons. The average realized price per ton for the unit was $2,108, down nearly 40% year over year. It was above our estimate of $2,004.
<h3>Financials</h3>
At the end of the quarter, the company&#39;s cash and cash equivalents were $2,031 million, down around 9% from the previous quarter&#39;s levels. Long-term debt was $4,078 million, flat sequentially.
<h3>Outlook</h3>
Moving ahead, X expects adjusted EBITDA for the third quarter in the band of $275-$325 million factoring in recent pricing dynamics, which continues to impact its business. It expects the results in the North American Flat-Rolled segment to soften modestly as reduced spot prices more than offset continued strength in contract order book and lower spending. In the Mini Mill segment, X sees results to reflect lower spot prices and $30 million of associated start-up and one-time construction costs ahead of the planned start-up of Big River 2 in the fourth quarter.
The results in the Europe unit are forecast to be consistent with the second quarter as lower selling prices are largely offset by reduced raw material costs. The company expects lower results in the Tubular segment in the third quarter due to reduced selling prices.
Moreover, U.S. Steel continues to progress toward completing the transaction with Nippon Steel Corporation later this year.
<h3>Price Performance</h3>
The company&#39;s shares have rallied 67.6% in the past year compared with the industry&#39;s 12.6% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/51/73182.jpg?v=823218616" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Key Picks</h3>
X currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are Kronos Worldwide, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kro#NYSE">KRO</a>), Ashland Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ash#NYSE">ASH</a>) and Hecla Mining Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hl#NYSE">HL</a>), each sporting a Zacks Rank #1 (Strong Buy).
Kronos is expected to report second-quarter results on Aug 7. The Zacks Consensus Estimate for KRO&#39;s second-quarter earnings is pegged at 21 cents. The company&#39;s shares have rallied roughly 33% in the past year.&nbsp;
Ashland is slated to report fiscal third-quarter results on Aug 6. The Zacks Consensus Estimate for ASH&#39;s third-quarter earnings is pegged at $1.47. The company&#39;s shares have gained roughly 7% in the past year.&nbsp;
Hecla is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for Hecla&#39;s second-quarter earnings is pegged at a penny per share. The stock has gained nearly 2% in the past year.
<a href="https://www.zacks.com/stock/news/2315087/u-s-steel-s-x-earnings-and-revenues-surpass-estimates-in-q2?cid=CS-BENZ-FT-analyst_blog|earnings_article-2315087">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Penny Stocks

Small Cap

Markets

Trading Ideas

U.S. Steel's Earnings and Revenues Surpass Estimates in Q2

Roth MKM analyst George Kelly reiterates Carriage Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSV#NYSE">CSV</a>) with a Buy and raises the price target from $32 to $40.

Roth MKM Reiterates Buy on Carriage Servs, Raises Price Target to $40

Legal

AMZN

GOOG

GOOGL

SNAP

U.S. Justice Department Sues Bytedance, TikTok Over Children's Privacy

Roth MKM analyst Rohit Kulkarni maintains Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) with a Neutral and lowers the price target from $15 to $14.

Roth MKM Maintains Neutral on Snap, Lowers Price Target to $14

Goldman Sachs analyst Brooke Roach downgraded Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) to Neutral from Buy,<a target="_blank" href="https://www.benzinga.com/quote/LULU/analyst-ratings" rel="noreferrer noopener"> lowering the price forecast from $463 to $286.</a>
Following recent execution challenges, lackluster innovation launches, and rising evidence of more regular promotionality,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> the analyst sees more balanced risk-reward for the stock.</a>
The analyst flags that Lululemon&#8217;s store traffic has declined in each month of 2024, which marks a material slowdown compared to the 2023 trend. Traffic versus the key peers has also been fairly weak.
On digital, while app downloads have remained healthy, the company&#8217;s online traffic has underperformed peers.
Previously, despite some weakness in the quarterly checks earlier this month, the analyst highlighted that trends were stable enough to maintain a constructive view of the stock.
Also Read:<a target="_blank" href="https://www.benzinga.com/markets/asia/24/08/40125124/emerging-tesla-rival-vinfast-launches-affordable-mini-e-suv-in-vietnam-aims-to-deliver-20k-units-in" rel="noreferrer noopener"> Emerging Tesla Rival Vinfast Launches Affordable Mini E-SUV In Vietnam, Aims To Deliver 20K Units In 2024</a>
However, due to weaker execution and innovation, Roach now cautions of fading confidence in the brand&#8217;s near-term growth prospects in the U.S. market.
Per the analyst, there are limited signs of material innovation through the summer.
The company&#8217;s launch and quick removal of the new Breezethrough franchise were disappointing, suggesting that near-term execution is more choppy than initially anticipated.
The analyst writes that Lululemon has also become sequentially more promotional, driving the risk that the brand is training its <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">customers to expect more regular discounts.</a>
The analyst adds that other signs of execution missteps are also evident in the store checks, and Roach has seen more cautious brand indicators within proprietary HundredX survey data.
Overall, the analyst doesn&#8217;t see an inflection in sales growth in the second half of the year, as the brand is likely more susceptible to competitive pressures and macro factors.
Price Action: LULU shares are trading lower by 5.27% to $235.92 at last check Friday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/40063981/tesla-engineer-showcases-first-cybertruck-with-dry-cathode-4680-cells-aimed-at-reducing-costs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Engineer Showcases First Cybertruck With Dry Cathode 4680 Cells Aimed At Reducing Costs</a></li>
</ul>

Analyst Color

Equities

Downgrades

General

LULU

Lululemon Downgraded: Goldman Analyst Flags Competitive Pressures, Weak Innovation, Lower Traffic

MUFG

SMFG

Sony Group Corporation American Depositary Shares

SONY

Shares of Japanese stocks are trading lower following the Bank of Japan's recent rate hike.

Benchmark analyst Reuben Garner maintains Belden (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDC#NYSE">BDC</a>) with a Buy and raises the price target from $110 to $115.

Benchmark Maintains Buy on Belden, Raises Price Target to $115

Dun & Bradstreet Shares Halted On Circuit Breaker To the Upside, Stock Now Up 6.22%

Ratings for Itron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITRI#NASDAQ">ITRI</a>) were provided by 10 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving 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;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</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;">1</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;">2</td>
<td style="text-align: right;">1</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>2M Ago</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>3M Ago</td>
<td style="text-align: right;">0</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>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $117.3, a high estimate of $130.00, and a low estimate of $109.00. Surpassing the previous average price target of $109.00, the current average has increased by 7.61%.
<img src="https://www.benzinga.com/files/images/story/2024/1722618525_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Itron among financial experts becomes clear with a thorough analysis 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>Chip Moore</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$125.00</td>
<td>$122.00</td>
</tr>
<tr>
<td>Ben Kallo</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$123.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$110.00</td>
<td>$109.00</td>
</tr>
<tr>
<td>Noah Kaye</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$112.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Mark Strouse</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$112.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>Chip Moore</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$122.00</td>
<td>$112.00</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Announces</td>
<td>Buy</td>
<td>$130.00</td>
<td>-</td>
</tr>
<tr>
<td>Austin Moeller</td>
<td>Canaccord Genuity</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$109.00</td>
<td>$109.00</td>
</tr>
<tr>
<td>Tommy Moll</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$110.00</td>
<td>$85.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Itron. This insight gives a snapshot of 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 Itron compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Itron'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 Itron's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/ITRI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Itron analyst ratings.</a>
<h2>All You Need to Know About Itron</h2>
Itron Inc provides solutions that measure, manage, and analyze energy and water use. It operates under the Itron brand and manages and reports under three operating segments: Device Solutions, Networked Solutions, and Outcomes. The device Solutions segment includes hardware products used for measurement, control, or sense that do not have communications capability embedded for use with broader Itron systems. The networked Solutions segment includes a combination of communicating devices, network infrastructure, and associated application software designed and sold as a complete solution. The outcome segment includes their value-added, enhanced software and services which manage, organize, analyze, and interpret data to improve decision-making and maximize operational profitability.
<h3>Itron: A Financial Overview</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Positive Revenue Trend: Examining Itron's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 22.0% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 8.57%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Itron's ROE excels beyond industry benchmarks, reaching 3.87%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.96%, the company showcases effective utilization of assets.
Debt Management: Itron's debt-to-equity ratio is below the industry average. With a ratio of 0.36, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: Simplified</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ITRI

Breaking Down Itron: 10 Analysts Share Their Views

Roth MKM analyst Rohit Kulkarni maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $210 to $215.

Roth MKM Maintains Buy on Amazon.com, Raises Price Target to $215

ResMed Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rmd#NYSE">RMD</a>) adjusted earnings per share in the fourth quarter of fiscal 2024 were $2.08, up 30% year over year. The metric beat the Zacks Consensus Estimate by 2.5%.
The adjustments include certain non-recurring expenses/benefits like the amortization of acquired intangibles, restructuring and masks with magnet field safety notification expenses, among others.
GAAP EPS in the reported quarter was $1.98, up 26.9% from the year-ago quarter.
For the full year, the adjusted EPS of $7.72 topped the Zacks Consensus Estimate by 0.3%. The metric increased 19.9% from the fiscal 2023 adjusted figure.
<h3>Revenues</h3>
On a reported basis, fiscal fourth-quarter revenues increased 9% year over year (up 10% at the constant exchange rate or CER) to $1.22 billion. The figure topped the Zacks Consensus Estimate by 0.7%.
Full-year revenues were $4.69 billion, a 10.9% improvement on a reported basis from fiscal 2023 (up 11% at CER). The metric came almost in line with the Zacks Consensus Estimate.
A Closer View of the Q4 Top Line
Total Sleep and Respiratory Care revenues improved 9% (up 9% at CER) from the prior-year period to $1.07 billion. This also topped our model&#39;s projected revenues of $1.04 billion.
Software-as-a-Service (SaaS)&nbsp;revenues grew 10% year over year to $151.9 million, which fell short of our model&#39;s projection of $154.2 million.
Revenues in the combined Europe, Asia and other markets rose 7% on a reported basis (up 8% at CER) to $343.9 million. Our model had anticipated $324.7 million.
<div class="chart_embed">
<h3>ResMed Inc. Price, Consensus and EPS Surprise</h3>
<img alt="ResMed Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/37/1722586174.png" style="height:265px; width:583px" title="" />
ResMed Inc. price-consensus-eps-surprise-chart | ResMed Inc. Quote
In the United States, Canada and Latin America, revenues were $727.4 million, up 10% year over year. Our model&#39;s projected revenues were $777.6 million.
</div>
Global Revenues comprised Total Devices revenues of $635.1 million, up 5% (6% at CER), and Total Masks and other revenues of $436.2 million, up 14% (up 15% at CER), all on a year-over-year basis. Our model projected $629 million and $415.2 million in revenues for Total Devices and Total Masks and other, respectively, in the fiscal fourth quarter.
<h3>Margins</h3>
The adjusted gross profit in the quarter under review rose 15.6% to $723.5 million despite a 0.7% uptick in the adjusted cost of sales (excluding the amortization of acquired intangibles, masks with magnet field safety notification expenses and Astral field safety notification expenses). The adjusted gross margin for the fiscal fourth quarter was 59.2%, reflecting an expansion of 338 basis points (bps).
SG&amp;A expenses rose 0.6% year over year to $242.2 million. R&amp;D expenses increased 3.5% to $80.9 million. The adjusted operating income was $400.5 million in the quarter under discussion, up 30.5% from the year-ago quarter. The adjusted operating margin expanded 538 bps year over year to 32.7%.
<h3>Financial Updates</h3>
ResMed exited the fourth quarter of fiscal 2024 with cash and cash equivalents of $238.4 million compared with $227.9 million at fiscal 2023-end. &nbsp;&nbsp;
Total debt (short and long-term) was $706.3 million compared with $1.44 billion at the end of fiscal 2023.
The cumulative net cash provided by operating activities at the end of the fiscal fourth quarter was $1.40 billion compared with $693.3 million in the year-ago period.&nbsp;
The company paid out $71 million in dividends in the fiscal fourth quarter and also repurchased 232,000 shares for consideration of $50 million as part of its ongoing capital management.
<h3>Our Take</h3>
ResMed delivered better-than-expected earnings and revenues in the fourth quarter of fiscal 2024. The consistent patient and customer demand for the company&#39;s products and software solutions remained robust, leading to solid growth across its devices, masks and software businesses. In addition, the team&#39;s emphasis on operating excellence, ongoing cost discipline and accelerating profitable growth resulted in gross margin expansion, strong operating leverage and double-digit growth in bottom-line profitability.
Furthermore, ResMed continues to increase the availability and production of its AirSense 11 and AirCurve11 platforms worldwide, securing regulatory clearances and launching these technologies in various countries. The masks and accessories business also grew strong, expanding in a competitive category globally. All these developments look encouraging for the stock.
<h3>Zacks Rank and Key Picks</h3>
ResMed currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Intuitive Surgical (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/isrg#NASDAQ">ISRG</a>), Abbott Laboratories, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>) and Quest Diagnostics (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dgx#NYSE">DGX</a>).
Intuitive Surgical reported a third-quarter 2024 adjusted EPS of $1.78, which beat the Zacks Consensus Estimate by 16.3%. Revenues of $2.01 billion topped the consensus estimate by 2%. ISRG currently sports a Zacks Rank #1 (Strong Buy).
Intuitive Surgical has an estimated long-term earnings growth rate of 16.1% in 2024 compared with the industry&#39;s 14.1%. The company&#39;s earnings surpassed estimates in each of the trailing four quarters, the average being 8.97%.
Abbott, carrying a Zacks Rank #2 (Buy), reported third-quarter 2024 earnings of $1.14, which surpassed the Zacks Consensus Estimate by 3.6%. Revenues of $10.38 billion topped the Zacks Consensus Estimate by 0.3%.&nbsp;
ABT has an estimated earnings growth rate of 10.1% for 2025 compared&nbsp; &nbsp; with the S&amp;P 500&#39;s 9.3%. The company surpassed earnings estimates in each of the trailing four quarters, the average being 2.34%.
Quest Diagnostics, carrying a Zacks Rank #2, reported a third-quarter adjusted EPS of $2.35, which surpassed the Zacks Consensus Estimate by 1.7%. Revenues of $2.40 billion exceeded the Zacks Consensus Estimate by 0.5%.
DGX&#39;s historical five-year earnings growth rate of 7.4% compared favorably with the industry&#39;s 4.2%. The company surpassed earnings estimates in each of the trailing four quarters, the average being 3.31%.
<a href="https://www.zacks.com/stock/news/2314987/resmed-s-rmd-q4-earnings-surpass-estimates-margins-expand?cid=CS-BENZ-FT-analyst_blog|earnings_article-2314987">To read this article on Zacks.com click here.</a>

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15 analysts have shared their evaluations of APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous 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;">2</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">3</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;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</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;">1</td>
<td style="text-align: right;">1</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;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $39.47, a high estimate of $57.00, and a low estimate of $30.00. This current average has decreased by 6.82% from the previous average price target of $42.36. 
<img src="https://www.benzinga.com/files/images/story/2024/1722618459_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 APA. 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>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$45.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$34.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Bob Brackett</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$30.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$30.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$52.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$41.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Noah Hungness</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Underperform</td>
<td>$31.00</td>
<td>-</td>
</tr>
<tr>
<td>Stephen Richardson</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$39.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$33.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$52.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>William Janela</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Underperform</td>
<td>$35.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$33.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>William Janela</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Underperform</td>
<td>$34.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$57.00</td>
<td>$54.00</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 APA. 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 APA compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of APA's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of APA's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/APA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on APA analyst ratings.</a>
<h2>Unveiling the Story Behind APA</h2>
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
<h3>Unraveling the Financial Story of APA</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Challenges: APA's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -2.84%. This indicates a decrease in top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: APA's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 6.77%, the company may face hurdles in effective cost management.
Return on Equity (ROE): APA's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.02% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.87%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: APA's debt-to-equity ratio surpasses industry norms, standing at 2.03. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>How Are Analyst Ratings Determined?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts 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.

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