LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. blog coverage looks at the headline from energy infrastructure major TransCanada Corp. (NYSE: TRP) and TC Pipelines, L.P. (NYSE: TCP). TransCanada announced on February 27, 2017, that it has offered to sell its 49.3% stake in Iroquois Gas Transmission System, L.P. (Iroquois) along with its balance 11.8% stake in Portland Natural Gas Transmission System (PNGTS) to TC Pipelines. Register with us now for your free membership and blog access at:

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Calgary, Alberta based TransCanada is a leading energy infrastructure Company that build and operates natural gas and liquids pipelines, power generation, and gas storage facilities. It aims to be the leading energy infrastructure Company in North America. TransCanada’s natural gas pipelines extend more than 91,500 kilometers, gas storage, and related services have over 653 billion cubic feet of storage capacity. It owns or has interests in over 10,700 megawatts of power generation in Canada and the US and its liquids pipeline systems extend over 4,300 kilometers.

TransCanada owns 27% interest in TC PipeLines via a master limited partnership through its indirect wholly-owned subsidiary, TC PipeLines GP, Inc. The partnership was formed with an aim to acquire, own, and actively participate in the management of natural gas pipelines and related assets in the US. Currently, TC PipeLines has investments in seven critical FERC regulated, low-risk energy infrastructure pipelines, capable of moving 9.1 billion cubic feet per day of natural gas.

Commenting on the stake sale offer, Russ Girling, President and CEO of TransCanada said:

“This offer demonstrates the meaningful role that TC PipeLines, L.P. can fulfill in funding a portion of our $23 billion near-term capital program. Delivering on our industry-leading growth portfolio positions us to deliver significant sustainable growth in earnings, cash flow and dividends.”

Confirming the receipt of the offer and sharing his views on the matter, Brandon Anderson, President of TC PipeLines GP, Inc. added:

“These pipelines are critical energy infrastructure in the US northeast and are expected to be integral to those markets for years to come. Upon a successful transaction, we believe this investment will further strengthen our cash flows and our ability to increase our quarterly distributions this year in line with recent increases.”

The details of the Proposal

The actual terms and financial details of the proposal have not been disclosed by the involved parties. They have indicated that the details will be worked out after negotiations between them. The proposal also needs the clearance from the Conflicts Committee of the Board of Directors of TC PipeLines and from statutory bodies. TransCanada’s Board of Directors has already given their approval for the stake sale in Iroquois and PNGTS.

TC PipeLines has indicated that in the event that it receives all necessary approvals from its Clearance Committee, Board of Directors as well as statutory bodies, and if the terms of the transaction are satisfactory, the deal could close in H2 2017. Under these circumstances, TC PipeLines is planning to use a blend of debt and equity to fund the transaction.

About Iroquois and PNGTS

The Iroquois Gas Transmission System, L.P. is the pipeline that transports natural gas under long-term contracts and has been fully operational since 1992. The 669 kilometres long pipeline connects with Canadian Mainline near Waddington, New York to deliver natural gas to customers in the US Northeast region including New York City, Long Island and Connecticut. The affiliates of TransCanada and Dominion Resources, Inc. jointly own Iroquois through a joint venture.

The Portland Natural Gas Transmission System is an interstate natural gas pipeline Company providing natural gas transportation service for gas utilities, paper mills, and electric generation plants throughout New England since 1999. The 475 kilometres long high-capacity, high-pressure interstate natural gas pipeline is strategically situated between three major pipeline networks. It connects the TransQuebec and Maritimes Pipeline at the Canadian border and the Maritimes and Northeast Pipeline at Westbrook, Maine with the Tennessee Gas Pipeline System near Boston, Massachusetts in the US. TransCanada currently owns 11.81% direct stake in PNGTS.

Incidentally, in January 2017, TransCanada sold 49.9% stake in PNGTS to TC PipeLines for $228 million.

Stock Performance

At the close of trading session on Monday, February 27, 2017, TransCanada’s stock price slightly declined 0.09% to end the day at $46.24. A total volume of 1.42 million shares were exchanged during the session, which was above the 3-month average volume of 910.51 thousand shares. The Company’s share price has surged 30.85% in the past twelve months and advanced 2.41% on YTD basis. The stock currently has a market cap of $40.70 billion and has a dividend yield of 3.63%.

On Monday, TC Pipelines’ stock closed the trading session at $59.74, dropping 3.26% from its previous closing price of $61.75. A total volume of 135.58 thousand shares have exchanged hands, which was higher than the 3-month average volume of 132.26 thousand shares. TC Pipelines’ stock price rallied 11.13% in the last three months, 15.97% in the past six months, and 49.02% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 3.14%. At yesterday’s closing price, the stock’s net capitalization stands at $4.07 billion. Moreover, the Company’s shares have a dividend yield of 6.29%.

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Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

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The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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ReleaseID: 456169

Upcoming AWS Coverage on Gartner Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. blog coverage looks at the headline from Unisys Corp. (NYSE: UIS). Blue Bell, Pennsylvania based IT solutions Company, Unisys announced on February 27, 2017 that Air New Zealand has decided to join the Unisys Cargo Portal Services (CPS) – the Cloud-based e-booking portal. Unisys CPS will allow Air New Zealand’s freight forwarder clients to book and track shipments online. Register with us now for your free membership and blog access at:

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One of Unisys’ competitors within the Information Technology Services space, Gartner, Inc (NYSE: IT), reported results for Q4 and full year 2016 and provided its preliminary financial outlook for full year 2017 on February 02, 2017. AWS will be initiating a research report on Gartner in the coming days.

Today, AWS is promoting its blog coverage on UIS; touching on IT. Get all of our free blog coverage and more by clicking on the link below:

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Commenting on the development, Eric Hutto, Senior Vice President and President of Enterprise Solutions, Unisys, said:

“We understand how important freight management is. In the case of delivering fresh food, fragile pharmaceuticals or valuable items, freight forwarders need to be able to quickly view availability and book shipments with reliable Airlines such as Air New Zealand. Unisys Cargo Portal Services will help Air New Zealand expand its global reach by ​allowing more freight forwarders to choose the Airline to deliver such critical cargo and meet their customers’ expectations.”

About Unisys and its Cargo Portal Services

Launched in January 2003, the Unisys’ CPS is the world’s most popular multi-carrier air cargo online booking portal. The Cloud-based e-booking portal allows freight forwarders to interact with multiple carriers via a single website. The website allows freight forwarders to view availability, make bookings and track shipments online. The website also provides other electronic services like producing IATA electronic Air Waybills (e-AWB) and interacting with various customs systems etc. Air New Zealand will be connected to the current users of the online portal which include over 6,000 forwarders and shippers from 3,750 branch offices of 2,200 Companies from over 330 cities in 105 countries. This will broaden business prospects for Air New Zealand’s and expand its reach across the globe.

Incidentally, Air New Zealand has used the cloud-based Unisys Logistics Management System (LMS) to manage its air cargo business since 2010.

Unisys is a global IT Company that specializes in offering industry-focused solutions to a varied range of clients from government to financial services to commercial markets. Its offerings include security solutions, advanced data analytics, cloud and infrastructure services, application services, and application and server software.

Unisys has over 45 years’ experience in providing advanced, critical IT solutions to the aviation industry. Approximately 20% of the world’s air cargo shipments are processed on Unisys solutions. Some of the Airlines using Unisys Cargo Portal Service include Air Canada Cargo, Air France Cargo, KLM Cargo, American Airlines Cargo, Delta Cargo, United Cargo, Virgin Atlantic Cargo, etc.

About Air New Zealand

Air New Zealand is not only one of the world’s leading Airlines, but it also offers exemplary airfreight and cargo services. Air New Zealand Cargo business is operated through the Airlines 590+ international flights per weeks which reaches 32 cities in 18 countries worldwide, using the Airline’s passenger schedule. It has three dedicated international cargo terminals in New Zealand: Auckland, Wellington, and Christchurch. In North America, it has a cargo hub in Los Angeles, with gateways in Honolulu, Houston, San Francisco, and Vancouver. The Airline’s Cargo unit handles a wide variety of general and specialized cargo. The goods range from high technology and time-sensitive goods to perishable cargo like fresh produce, biological products, etc.; and general cargo like dry goods, human remains, pets and livestock, high value cargo like paintings etc.

AirlineRatings.com named Air New Zealand as the Airline of the Year 2016, for the third consecutive year. The award was given for its continuous passenger innovations, environmental commitment, record-breaking financial performance, operational safety, and motivation of its staff. The Airline was also awarded as the Best Airline in the Best Premium Economy Class and Best Economy Class category.

Stock Performance

At the end of trade on February 27, 2017, Unisys’ share price finished the trading session flat at $14.15. A total volume of 611.24 thousand shares exchanged hands. The stock has advanced 38.05% and 29.94% in the last six months and past twelve months, respectively. Additionally, the stock currently has a market cap of $708.69 million.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

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SOURCE: Active Wall Street

ReleaseID: 456175

TEL AVIV, ISRAEL / ACCESSWIRE / February 28, 2017 / Elbit Imaging Ltd. (TASE: EMITF) (NASDAQ: EMITF) (“Elbit” or the “Company”) announced today, in further to its announcement dated December 12, 2016, that it was informed by Gamida Cell Ltd. (“Gamida”), an indirect associate of the Company, that the first patient has been transplanted in Gamida’s Phase 3 study of NiCord®, in development as a cure for patients with blood cancer (the “Trial”.)

The Trial is an international, randomized, controlled, open-label, multicenter, registration study. The trial is expected to enroll 120 patients, ages 16-60 that will be enrolled in medical centers in the U.S and Europe. The Trial will evaluate the safety and efficacy of transplanting NiCord® as compared to transplanting un-manipulated cord blood in patients with hematological malignancies (blood cancers). The primary end point is the time estimation to neutrophil engraftment.

As of today, the development of NiCord remains at the clinical stage of development.

Gamida develops cellular and immune therapies for the treatment of cancer and orphan genetic diseases. Gamida’s pipeline of products are in development to treat a wide range of conditions, including blood cancer, lymph nodes cancer and genetic hematological diseases such as sickle cell disease and thalassemia.

The Company holds approximately 89.9% of the share capital of Elbit Medical Technologies Ltd. (TASE: EMTC) (85.6% on a fully diluted basis) which, in turn, holds approximately 25% of the share capital in Gamida (22.5% on a fully diluted basis).

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial centers – initiation, construction, and sale of commercial centers and other mixed-use property projects, predominantly in the retail sector, located in Central and Eastern Europe. In certain circumstances and depending on market conditions, the Group operates and manages commercial centers prior to their sale. (ii) Hotel – operation and management of the Radisson hotel complex in Bucharest, Romania. (iii) Medical industries and devices – (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment, and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine. (iv) Plots in India – plots designated for sale initially designated to residential projects.

Any forward-looking statements in our releases include statements regarding the intent, belief or current expectations of Elbit Imaging Ltd. and our management about our business, financial condition, results of operations, and its relationship with its employees and the condition of our properties. Words such as “believe,” “expect,” “intend,” “estimate” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors including, without limitation, a change in market conditions, a decision to deploy the cash for other business opportunities and the factors
set forth in our filings with the Securities and Exchange Commission including, without limitation, Item 3.D of our annual report on Form 20-F for the fiscal
year ended December 31, 2015, under the caption “Risk Factors.” Any forward-looking statements contained in our releases speak only as of the date of such release, and we caution existing and prospective investors not to place undue reliance on such statements. Such forward-looking statements do not purport to be predictions of future events or circumstances, and therefore, there can be no assurance that any forward-looking statement contained in our releases will prove to be accurate. We undertake no obligation to update or revise any forward-looking statements.

For Further Information:

Company Contact

Ron Hadassi
Chairman of the Board of Directors
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com

SOURCE: Elbit Imaging, Ltd.

ReleaseID: 456187

Upcoming AWS Coverage on Cable One Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. announces its post-earnings coverage on Level 3 Communications, Inc. (NYSE: LVLT). The Company reported its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on February 08, 2017. The Broomfield, Colorado-based Company’s diluted EPS declined on a year-over-year basis; however, it outperformed market consensus estimates. Register with us now for your free membership at:

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One of Level 3 Communications’ competitors within the Diversified Communication Services space, Cable One, Inc. (NYSE: CABO) issued a press release reporting its results before market open on Tuesday, February 28, 2017. The Company will host a conference call with the financial community to discuss results for Q4 and full year 2016 today at 11 a.m. ET. AWS will be initiating a research report on Cable One in the coming days.

Today, AWS is promoting its earnings coverage on LVLT; touching on CABO. Get our free coverage by signing up to:

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Earnings Reviewed

During the quarter ended on December 31, 2016, Level 3 Communications reported total revenue of $2.03 billion compared to $2.05 billion recorded at the end of Q4 FY15. Total revenue numbers for Q4 FY16 lagged behind market consensus estimates of $2.07 billion.

The internet and telecommunications Company’s net income stood at $250 million, or $0.69 per diluted share, in Q4 FY16 compared to $3.32 billion, or $9.24 per diluted share, in Q4 FY15. Wall Street had expected the Company to report net income of $0.44 per diluted share. Furthermore, the Company’s Q4 FY15 net income included a non-cash benefit from income tax expense of approximately $3.3 billion related to the release of its valuation allowance against US federal and state deferred tax assets.

In FY16, Level 3 Communications’ revenue came in at $8.17 billion compared to $8.23 billion in the previous year’s same period. The Company reported net income of $677 million, or $1.87 per diluted share, in FY16 versus $3.43 billion, or $9.58 per diluted share, in FY15.

Operational Metrics

During Q4 FY16, Level 3 Communications’ total costs and expenses were $1.68 billion versus $1.72 billion in the prior year’s comparable quarter. The Company’s operating income for Q4 FY16 came in at $354 million compared to $338 million in Q4 FY15. The Company reported adjusted EBITDA of $709 million for Q4 FY16 versus $681 million in last year’s corresponding quarter. Additionally, adjusted EBITDA margin as a percentage of revenue improved during Q4 FY16 to 34.9% from 33.2% in the same period last year.

Segment wise

Core Network Services (CNS) Segment

Level 3 Communications’ CNS segment revenue came in at $1.93 billion in Q4 FY16 compared to $1.94 billion in Q4 FY15. The segment’s wholesale revenues were down by 7.6% during Q4 FY16 to $497 million from $538 million in Q4 FY15. Meanwhile, the segment’s enterprise revenues grew 2.3% in Q4 FY16 to $1.44 billion from $1.41 billion in the previous year’s same quarter.

Geographical Contribution

North American region contributed $1.58 billion to CNS segment’s revenues, up 0.8% in Q4 FY16 from $1.57 billion in Q4 FY15. EMEA regions’ revenue declined 15.1% to $180 million in Q4 FY16 from $212 million in the prior year’s comparable quarter. Meanwhile, revenues from Latin America regions were up by 6.9% in Q4 FY16 to $170 million from $159 million in Q4 FY15.

Wholesale Voice Services

The Company’s Wholesale Voice Services segment’s revenue fell 10.9% during Q4 FY16 to $98 million from $110 million in Q4 FY15.

Cash Flow & Balance Sheet

During Q4 FY16, net cash provided by operating activities was $557 million compared to $556 million in the prior year’s same period. During the reported quarter, the Company’s free cash flow was $251 million compared to $226 million in Q4 FY15. Furthermore, the Company reported unlevered cash flow of $386 million in Q4 FY16 versus $399 million in Q4 FY15.

At the close of books on December 31, 2016, Level 3 Communications had $1.82 billion in cash and cash equivalents compared to $854 million at the close of books on December 31, 2015. The Company’s long-term debt stood at $10.88 billion as on December 31, 2016, compared to $10.87 billion as on December 31, 2015.

Outlook

In its guidance for FY17, Level 3 Communications management expects adjusted EBITDA to be in the range of $2.94 billion to $3.00 billion. Furthermore, the Company anticipates free cash flow during FY17 to be between $1.10 billion and $1.16 billion.

Stock Performance

On Monday, February 27, 2017, Level 3 Communications’ share price finished the trading session at $57.63, slightly up by 0.03%. A total volume of 2.33 million shares exchanged hands, which was higher than the 3 months’ average volume of 2.20 million shares. The stock has surged 16.57% and 1.87% in the last six months and past three months, respectively. Furthermore, since the start of the year, shares of the Company have gained 2.25%. The stock is trading at a PE ratio of 30.83 and currently has a market cap of $20.80 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 456181

Upcoming AWS Coverage on Manulife Financial Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. announces its post-earnings coverage on Prudential Financial, Inc. (NYSE: PRU). The Company posted its fourth quarter fiscal 2016 financial results on February 08, 2017. The second-largest US life insurer surpassed earnings expectations. Register with us now for your free membership at:

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One of Prudential Financial’s competitors within the Life Insurance space, Manulife Financial Corp. (NYSE: MFC), reported its financial results on February 09, 2017. AWS will be initiating a research report on Manulife Financial in the coming days.

Today, AWS is promoting its earnings coverage on PRU; touching on MFC. Get our free coverage by signing up to:

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Earnings Reviewed

For the period ended December 31, 2016, Prudential’s total revenue inched up 1.3% on y-o-y basis to $13.42 billion. For FY16, the Company’s revenue gained 6.1% to $51.57 billion.

For Q4 2016, net income attributable to Prudential was $284 million, or $0.65 per common share, compared to $735 million, or $1.60 per Common share, for Q4 2015. After-tax adjusted operating income was $1.090 billion, or $2.46 per common share, for the reported quarter, compared to $891 million, or $1.94 per Common share, for the year ago same period. The Company’s operating income number exceeded analysts’ estimates of $2.31 per share.

Net income attributable to Prudential for FY16 was $4.368 billion, $9.71 per common share, compared to $5.642 billion, or $12.17 per common share, for FY1. After-tax adjusted operating income was $4.107 billion, or $9.13 per common share, for FY16 compared to $4.649 billion, or $10.04 per common share, for FY15.

Operating Results

Prudential’s ongoing operations include the US Retirement Solutions and Investment Management, US Individual Life and Group Insurance, and International Insurance divisions, as well as Corporate and Other Operations.

For Q4 2016, Prudential’s US Retirement Solutions and Investment Management division reported adjusted operating income of $964 million, up 24% compared to the $776 million from last year’s comparable quarter. The Individual Annuities segment reported adjusted operating income of $422 million in the reported quarter compared to $410 million in the year earlier same quarter. Excluding the effect of the foregoing items, results for the Individual Annuities segment increased $19 million from the year ago same quarter. This increase came primarily from a greater contribution from net investment results which included current quarter returns on non-coupon investments and prepayment fees approximately $10 million above the Company’s average expectations and from a higher contribution from policy fees.

During the reported quarter, the Retirement segment reported adjusted operating income of $318 million compared to $168 million in Q4 2015. The results for Q4 2016 include a benefit of $20 million from settlement of legal matters. Excluding the effect of this item, results for the Retirement segment increased $130 million from the year-ago same quarter. This increase reflected greater contributions from net investment results and case experience as well as lower expenses. The contribution from net investment results was $98 million above the year ago same quarter, reflecting current quarter returns on non-coupon investments and prepayment fees about $30 million above our average expectations in comparison to returns $20 million below average expectations in the year-ago comparable quarter as well as growth of spread-based account values. The Asset Management segment reported adjusted operating income of $224 million for Q4 2016 compared to $198 million in Q4 2015, driven by higher asset management fees reflecting growth in fixed income assets under management and fee rate modifications within certain real estate funds.

For Q4 2016, Prudential’s US Individual Life and Group Insurance division reported adjusted operating income of $181 million compared to $126 million in Q4 2015. The Individual Life segment reported adjusted operating income of $138 million for the reported quarter compared to $99 million in the year ago same quarter. The increase reflected a greater contribution from net investment results and more favorable claims experience, partly offset by a negative impact of approximately $25 million from current quarter updates of reserves and related items and by higher expenses.

The Group Insurance segment reported adjusted operating income of $43 million in Q4 2016 compared to $27 million in the year ago corresponding quarter. The increase reflected lower expenses and a greater contribution from net investment results, partly offset by less favorable underwriting results. The International Insurance segment reported adjusted operating income of $755 million for Q4 2016 compared to $738 million in the year ago same quarter. Adjusted operating income of the segment’s Life Planner operations was $395 million for the reported quarter compared to $367 million in the year earlier comparable quarter. Adjusted operating income of the segment’s Gibraltar Life and Other operations was $360 million for Q4 2016 compared to $371 million in Q4 2015. Foreign currency exchange rates, including the impact of the Company’s currency hedging programs, had an unfavorable impact of $26 million in comparison to Q4 2015. Excluding this impact, results increased $15 million from the year-ago comparable quarter. This increase was driven by a greater contribution from net investment results and by business growth including a contribution from the Company’s indirect investment in AFP Habitat acquired on March 02, 2016, partly offset by less favorable policy benefits experience.

Corporate and Other operations resulted in a loss, on an adjusted operating income basis, of $441 million in Q4 2016 compared to a loss of $458 million in the year ago same quarter.

Assets under Management

Prudential’s Assets under management amounted to $1.264 trillion at December 31, 2016, compared to $1.184 trillion a year earlier. Excluding holdings of the Closed Block division, gross unrealized losses on general account fixed maturity investments at December 31, 2016 amounted to $3.809 billion, including $3.506 billion on high and highest quality securities based on NAIC or equivalent ratings, and amounted to $3.398 billion a year earlier. Net unrealized gains on these investments amounted to $27.585 billion at December 31, 2016, compared to $23.739 billion a year earlier.

Stock Performance

On Monday, February 27, 2017, the stock closed the trading session at $110.95, slightly climbing 0.90% from its previous closing price of $109.96. A total volume of 1.40 million shares have exchanged hands. Prudential Financial’s stock price surged 10.99% in the last three months, 45.54% in the past six months, and 71.01% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 7.34%. The stock is trading at a PE ratio of 11.46 and has a dividend yield of 2.70%.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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ReleaseID: 456182

Upcoming AWS Coverage on Welltower Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. announces its post-earnings coverage on Omega Healthcare Investors, Inc. (NYSE: OHI). The Company released its fourth quarter fiscal 2016 financial results on February 08, 2017. The health care real estate investment trust surpassed revenue and FFO expectations. On the conference call, Omega’s management stated that in six out of the last seven years it has delivered double-digit adjusted FFO growth. Register with us now for your free membership at:

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One of Omega Healthcare Investors’ competitors within the REIT – Healthcare Facilities space, Welltower Inc. (NYSE: HCN), reported its Q4 2016 financial results before the market opened on February 22, 2017. AWS will be initiating a research report on Welltower in the coming days.

Today, AWS is promoting its earnings coverage on OHI; touching on HCN. Get our free coverage by signing up to:

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Earnings Reviewed

Omega’s operating revenues for the three-month period ended December 31, 2016, totaled $234.5 million and included $0.7 million of cash proceeds from a legal settlement and $18.3 million of non-cash revenue compared to operating revenues of $210.5 million, for the same period in 2015. The Company’s revenue numbers surpassed analysts’ consensus of $221.3 million.

Omega’s operating expenses for Q4 2016 totaled $87.8 million and were comprised of $70.8 million of depreciation and amortization expense, $7.5 million of general and administrative expense, $5.9 million in provisions for uncollectible mortgages, notes, and straight-line receivables and $3.7 million of stock-based compensation expense.

For the three-month period ended December 31, 2016, the Company reported net income of $129.9 million, or $0.63 per common share. This compared to net income of $63.5 million, or $0.32 per common share, for Q4 2015.

For Q4 2016, Omega reported Funds from Operations (FFO) of $171.5 million, or $0.84 per common share, compared to $127.4 million, or $0.65 per common share for Q4 2015. The Company’s Q4 2016 FFO includes the impact of $5.9 million in provisions for uncollectible mortgages, notes, and straight-line receivables, and $3.7 million of non-cash stock-based compensation expense, which were offset by a $0.7 million of one-time non-cash revenue. Omega’s Q4 2016 adjusted FFO was $180.4 million, or $0.88 per common share, compared to $159.4 million, or $0.81 per common share, for the same period in 2015. Omega’s adjusted FFO numbers exceeded market estimates of $0.85 per share.

Yearly Results

For the twelve-month period ended December 31, 2016, Omega reported net income of $383.4 million, or $1.90 per common share, on operating revenues of $900.8 million. This compared to net income of $233.3 million, or $1.29 per common share, on operating revenues of $743.6 million, for FY15.

The year-to-date increase in net income compared to the prior year was primarily due to revenue associated with the acquisition by merger of Aviv REIT, Inc. on April 01, 2015, and new investments completed in 2015 and 2016, and the reduction in 2016 acquisition and merger related costs.

For FY16, Omega reported FFO of $660.1 million, or $3.27 per common share, compared to $455.3 million, or $2.52 per common for FY15. For the reported year, the Company posted adjusted FFO of $688.7 million, or $3.42 per common share, compared to $564.4 million, or $3.13 per common share, for the year ago same period.

Recent Developments

Financing Activities – During the three-month period ended December 31, 2016, the Company sold 1.0 million shares of its common stock generating $30.0 million of gross proceeds.

Portfolio Activity – In Q4 2016, the Company completed transactions totaling $50 million of a new investment and $40 million in capital renovations and new construction. On November 01, 2016, the Company invested approximately $50.0 million in a joint venture, Second Spring Healthcare Investments, to acquire 64 skilled nursing facilities from Welltower, Inc. for approximately $1.1 billion. Second Spring is approximately 85% owned by affiliates of Lindsey Goldberg LLC and approximately 15% owned by the Company. Simultaneously, Second Spring entered into a new 15-year Master Lease with Genesis Healthcare. In addition to the new investment, in Q4 2016, Omega invested approximately $40 million under its capital renovation and construction-in-progress programs.

Asset Dispositions and Impairments – During Q4 2016, Omega sold 18 facilities for approximately $104.8 million in net proceeds recognizing a gain of approximately $30.3 million. Eleven of the sold facilities were previously classified as assets held for sale. The Company stated that its strategy to prune underperforming assets and non-strategic relationships resulted in sales of 38 facilities for $169.6 million in cash proceeds resulting in a gain of $50.2 million for the year ended December 31, 2016. As part of that process, the Company recorded $58.7 million of asset impairments in FY16.

As of December 31, 2016, Omega had 20 facilities, totaling $52.9 million, classified as assets held for sales. The Company expects to sell these facilities over the next few quarters.

Balance Sheet

Omega announced that it invested over $1.3 billion and raised $1.3 billion in new capital. The Company stated that its balance sheet is particularly strong with annualized pro-forma EBITDA in excess of $900 million and a funded debt to EBITDA ratio of 4.7 times.

Adjusted FFO Guidance

Omega currently expects its FY17 annual adjusted FFO available to common stockholders to be between $3.40 and $3.44 per diluted share. The Company’s adjusted FFO guidance for 2017 includes approximately $100 million of planned capital renovation projects. Omega’s funds available for distribution FAD guidance are in the range of $3.10 to $3.14 per share for FY17.

Stock Performance

At the close of trading session on Monday, February 27, 2017, Omega Healthcare Investors’ stock price marginally rose 0.89% to end the day at $32.84. A total volume of 1.72 million shares were exchanged during the session. The stock has advanced 15.88% and 10.46% in the last three months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 7.09%. The stock is trading at a PE ratio of 18.10 and has a dividend yield of 7.55%. Additionally, the stock currently has a market cap of $6.37 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active Wall Street

ReleaseID: 456179

Upcoming AWS Coverage on Sage Therapeutics Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. blog coverage looks at the headline from La Jolla Pharmaceutical Co. (NASDAQ: LJPC) as the Company announced on February 27, 2017, positive results from the Phase-3 study of LJPC-501 in patients with catecholamine resistant hypotension (CRH). Register with us now for your free membership and blog access at:

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One of La Jolla Pharma’s competitors within the Biotechnology space, Sage Therapeutics, Inc. (NASDAQ: SAGE), reported on February 23, 2017, its business highlights and financial results for Q4 and full year ended December 31, 2016. AWS will be initiating a research report on Sage Therapeutics in the coming days.

Today, AWS is promoting its blog coverage on LJPC; touching on SAGE. Get all of our free blog coverage and more by clicking on the link below:

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ATHOS-3 Study

The ATHOS-3 (Angiotensin II for the Treatment of High-Output Shock) trial was designed as a multicenter, randomized, double-blind, placebo-controlled, Phase-3 clinical study to test La Jolla’s lead product LJPC-501 in patients with CRH. A total of 344 patients were randomized across nine countries, 321 of whom received study treatment. Patients were randomized 1:1 to receive either LJPC-501 or placebo on a background of standard-of-care vasopressors selected by the investigators. Randomized patients received their assigned treatment via continuous intravenous infusion.

The primary efficacy endpoint was the percentage of patients with a mean arterial pressure (MAP) ≥ 75 mmHg or a 10 mmHg increase from baseline MAP at 3 hours following the initiation of study treatment without an increase in standard-of-care vasopressors. ATHOS-3 was conducted under a Special Protocol Assessment (SPA) agreed with the US Food and Drug Administration (FDA) in 2015. The SPA stipulates that a study of this size and design could provide sufficient safety and efficacy signals and an adequate evaluation of the risk/benefit to the patients to support FDA review and consideration for marketing approval.

Data from the ATHOS- 3 study demonstrated that the percentage of patients achieving a pre-specified target blood pressure response was highly statistically significant: 23% of the 158 placebo-treated patients had a blood pressure response compared to 70% of the 163 LJPC-501-treated patients. On the downside, LJPC-501 treated patients showed a 22% reduction in mortality risk through day 28.

Throughout the study, safety outcomes were followed by an independent Data Safety Monitoring Board (DSMB). The DSMB recommended that the study continue as originally planned. In collaboration with the investigators, La Jolla plans to present and publish detailed results from the ATHOS-3 study later this year.

“We are grateful to the patients, their families, and the dedicated medical teams who contributed to this successful study,” said George F. Tidmarsh, M.D., Ph.D., President and Chief Executive Officer of La Jolla, “We also are very appreciative of the FDA’s advice and contributions in the development of LJPC-501 and look forward to meeting with the FDA to discuss our NDA submission planned for the second half of this year.”

About LJPC-501

LJPC-501 is La Jolla’s proprietary formulation of synthetic human angiotensin II. Angiotensin II, the major bioactive component of the renin-angiotensin system, serves as one of the body’s central regulators of blood pressure. LJPC-501 is being developed for the treatment of patients with catecholamine resistant hypotension (CRH). LJPC-501 is the first synthetic human angiotensin II product candidate to be tested in a Phase-3 study.

What is Catecholamine Resistant Hypotension?

CRH is a life-threatening condition in patients with distributive shock (dangerously low blood pressure with adequate cardiac function) in which blood does not properly flow to vital organs. As per the press release, there are approximately 500,000 distributive shock cases in the United States per year, an estimated 200,000 of which develop CRH. More than 50% of CRH patients die within 30 days.

Stock Performance

At the closing bell, on Monday, February 27, 2017, following the announcement, La Jolla Pharma’s stock skyrocketed 76.75%, ending the trading session at $35.12. A total volume of 18.28 million shares were traded at the end of the day, which was higher than the 3-month average volume of 146.21 thousand shares. In the last six months and previous twelve months, shares of the Company have rallied 106.10% and 121.30%, respectively. Moreover, the stock soared 100.34% since the start of the year. The stock currently has a market cap of $604.45 million.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 456180

Upcoming AWS Coverage on Priceline Group Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. announces its post-earnings coverage on Fiserv, Inc. (NASDAQ: FISV). The Company announced its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year 2016 (FY16) on February 08, 2017. The Brookfield, Wisconsin-based Company’s quarterly adjusted diluted EPS grew 16% y-o-y; topping Wall-Street’s estimates. Register with us now for your free membership at:

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One of Fiserv’s competitors within the Business Services space, The Priceline Group Inc. (NASDAQ: PCLN), reported its fourth quarter 2016 financial results on Monday, February 27, 2017. AWS will be initiating a research report on Priceline Group in the coming days.

Today, AWS is promoting its earnings coverage on FISV; touching on PCLN. Get our free coverage by signing up to:

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Earnings Reviewed

During the quarter ended on December 31, 2016, Fiserv reported GAAP revenues of $1.43 billion, increasing 5% from $1.37 billion recorded at the end of Q4 FY15. However, GAAP revenue numbers for the reported quarter lagged behind market expectations of $1.48 billion. The GAAP revenue growth was driven by driven by 7% y-o-y growth in the Payments segment and 2% y-o-y in the Financials segment. Furthermore, the Company’s adjusted revenue also increased 5% y-o-y during Q4 FY16 to $1.35 billion, while internal revenue growth during the reported quarter was 4% y-o-y.

The Financials services technology Company reported GAAP net income of $215 million, or $0.98 per diluted share, in Q4 FY16 compared to $189 million, or $0.81 per diluted share, in Q4 FY15. The Company’s adjusted net income increased to $254 million, or $1.16 per diluted share, in Q4 FY16 from $233 million, or $1.00 per diluted share, in Q4 FY15. Meanwhile, Wall Street had also expected the Company to report adjusted net income of $1.16 per diluted share.

Fiserv’s revenues during full year FY16 came in at $5.51 billion compared to $5.25 billion in FY15. The Company’s adjusted revenue rose 5% during FY16 to $5.21 billion from $4.95 billion in FY15. Fiserv’s GAAP net income rose to $930 million, or $4.15 per diluted share, in FY16 from $712 million, or $2.99 per diluted share, in FY15. Additionally, adjusted net income for FY16 came in at $993 million, or $4.43 per share, versus $921 million, or $3.87 per share, in FY15.

Operational Metrics

During Q4 FY16, Fiserv’s total expenses were $1.06 billion compared to $1.04 billion in the prior year’s same quarter. The Company’s operating income increased during Q4 FY16 to $375 million from $329 million in Q4 FY15. The Company’s operating margin also rose to 26.1% in Q4 FY16 from 24.0% in the previous year’s comparable quarter. In the reported quarter, adjusted operating income was up to $435 million from $394 million in Q4 FY15. Furthermore, adjusted operating margin improved to 32.1% in Q4 FY16 from 30.7% in Q4 FY15.

Segment Performance

For Q4 FY16, Payments and Industry Products (Payments) segment reported revenues of $806 million compared to $751 million in Q4 FY15. The segment’s adjusted revenue increased to $728 million in Q4 FY16 from $666 million in the prior year’s corresponding quarter. For the reported quarter, the segment’s operating income came in at $240 million, or 29.8% of the segment’s revenues, compared to $224 million, or 29.8% of the segment’s revenues in Q4 FY15. Additionally, the segment’s Q4 FY16 adjusted operating income stood at $241 million, or 33.1% of the adjusted segment’s revenues, compared to $224 million, or 33.6% of the adjusted segment’s revenues in Q4 FY15.

Financial Institution Services (Financial) segment contributed $643 million to total revenues during Q4 FY16 compared to $630 million in Q4 FY15. The segment’s adjusted revenue rose to $644 million in Q4 FY16 from $631 million in the year ago same quarter. Furthermore, the segment’s operating income for the reported quarter stood at $217 million, or 33.7% of the segment’s revenues, versus $195 million, or 31.0% of the segment’s revenues, in Q4 FY15.

Cash Flow & Balance Sheet

During FY16, Fiserv generated $1.43 billion of cash from its operating activities compared to $1.35 billion during FY15. The Company reported free cash flow of $1.08 billion in FY16, up from $1.01 billion in FY15. At the close of books in the reported quarter, Fiserv had $300 million in cash and cash equivalents compared to $275 million at the close of books on December 31, 2015. Additionally, the Company’s long-term debt increased to $4.47 billion on December 31, 2016, from $4.29 billion on December 31, 2015.

Share Repurchase

In Q4 FY16, Fiserv repurchased 2.6 million shares of common stock for $265 million, totaling repurchase of 11.9 million shares of common stock for $1.20 billion in full year FY16. Furthermore, the Company announced a new 15 million share repurchase authorization in Q4 FY16 and has 20.5 million remaining shares repurchase authorization as on December 31, 2016.

Earnings Guidance

In its guidance for full year FY17, Fiserv’s management expects internal revenue to grow in a range of 4% to 5%. The Company anticipates adjusted EPS during FY17 to be in the range of $5.03 per share to $5.17 per share with a growth range of 14% to 17% y-o-y.

Stock Performance

On Monday, February 27, 2017, the stock closed the trading session at $115.58, marginally falling 0.62% from its previous closing price of $116.30. A total volume of 1.19 million shares have exchanged hands, which was higher than the 3-month average volume of 986.91 thousand shares. Fiserv’s stock price advanced 7.42% in the last three months, 12.19% in the past six months, and 17.96% in the previous twelve months. Furthermore, on a year-to-date basis, the stock gained 8.75%. Shares of the company have a PE ratio of 27.85 and have a market capitalization of $25.01 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

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SOURCE: Active Wall Street

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Upcoming AWS Coverage on Carlisle Companies Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 28, 2017 / Active Wall St. announces its post-earnings coverage on The Goodyear Tire & Rubber Co. (NASDAQ: GT). The Company disclosed its first quarter fiscal 2017 financial results on February 07, 2017. The largest US tire maker returned to profit after posting a loss in Q4 2015, which was impacted by the deconsolidation in Company’s Venezuelan business. Register with us now for your free membership at:

http://www.activewallst.com/register/

One of Goodyear Tire & Rubber’s competitors within the Rubber & Plastics space, Carlisle Companies Inc. (NYSE: CSL), reported on February 09, 2017, its Q4 and full year 2016 financial results. AWS will be initiating a research report on Carlisle Cos. in the coming days.

Today, AWS is promoting its earnings coverage on GT; touching on CSL. Get our free coverage by signing up to:

http://www.activewallst.com/register/

Earnings Reviewed

For the quarter ended December 31, 2016, Goodyear’s sales were $3.7 billion, down compared to $4.1 billion in the year ago same period, driven by the deconsolidation of the Company’s subsidiary in Venezuela. The Company’s sales numbers came in below analysts’ consensus of $3.9 billion.

For Q4 2016, Goodyear’s Tire unit volumes totaled 41.1 million, down 2% from Q4 2015. The Company’s replacement tire shipments were down 1%, while original equipment unit volume declined 7%, driven in part due to weakness in the US commercial truck market.

Goodyear’s Q4 2016 net income was $561 million, or $2.14 per share, compared to a net loss of $380 million, or $1.42 per share, in the year ago comparable quarter. The prior year was negatively impacted by a charge to deconsolidate Venezuela. The Company’s Q4 2016 adjusted net income was $249 million, or $0.95 per diluted share, compared to $257 million, or $0.93 per diluted share, in Q4 2015. The Company’s earnings numbers surpassed market expectations of $0.87 per share.

Goodyear reported Q4 2016 operating income of $479 million compared to $480 million in Q4 2015. Segment’s operating income in 2016 benefited from net cost savings, which was more than offset by lower price/mix net of raw material costs, lower volume, and the deconsolidation of Venezuela. The Company’s Core segment’s operating income, which excludes Venezuela, was $458 million in the year earlier corresponding quarter.

Full-Year Results

Goodyear’s FY16 sales were $15.2 billion, down 8% from FY15, primarily reflecting the deconsolidation of Venezuela and unfavorable foreign currency translation.

The Company’s FY16 Tire unit volumes totaled 166.1 million, essentially unchanged from FY15. Replacement tire shipments were up 2%. Original equipment unit volume was down 4%. Excluding the impact of the deconsolidation of Venezuela, unit volumes increased 1%.

Goodyear’s FY16 net income of $1.3 billion, or $4.74 per share, increased compared to $307 million, or $1.12 per share, in FY15. The increase was driven by a charge in FY15 to deconsolidate Venezuela and a decrease in FY16 income tax expense due to the release of foreign tax valuation allowances. The Company’s FY16 adjusted net income was $1.1 billion, or $4.00 per diluted share, up from $906 million, or $3.32 diluted per share, in FY15.

Goodyear generated segment’s operating income of $2.0 billion in FY16, down 2% from a year ago. The decrease was more than explained by the deconsolidation of Venezuela. Core segment’s operating income, which excludes Venezuela, was $1.9 billion in FY15.

Cash Flow & Balance Sheet

For Q4 2016, Goodyear’s cash and cash equivalents at the end of the quarter were about $1.1 billion. The Company’s net debt was down more than $700 million from Q3 2016. Goodyear’s global pension unfunded liability at the end of the year was $669 million up slightly from the prior year. Goodyear generated $1 billion in free cash flow from operations, driven by an $833 million working capital benefit. Additionally, cash flow from operating activities was $1.3 billion in Q4 2016 and $1.5 billion for FY16.

Goodyear repurchased $300 million worth of its common stock during Q4 2016, or about 10 million shares. For FY16, the Company repurchased $500 million in common stock, or 16.7 million shares. In addition, Goodyear repaid $200 million on its US second lien term loan in December, taking the remaining balance to $400 million.

Stock Performance

At the closing bell, on Monday, February 27, 2017, Goodyear Tire & Rubber’s stock marginally declined 0.28%, ending the trading session at $35.26. A total volume of 2.56 million shares were traded at the end of the day. In the last month and previous three months, shares of the Company have surged 11.55% and 14.40%, respectively. Moreover, the stock rallied 14.59% since the start of the year. The stock is trading at a PE ratio of 7.40 and has a dividend yield of 0.96%.

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NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

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For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active Wall Street

ReleaseID: 456159