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Recent Articles
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Latest Report Updates
Mar 21, 2024
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Check out the latest report updates on the website.
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Phillips 66 Hovering Near All-Time Highs, Shares Yield ~2.7%
Mar 20, 2024
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Image: Phillips 66 continues to be very shareholder friendly returning cash in the form of share repurchases and dividends.
Though crack spreads can be quite volatile at times, there’s a lot to like about Phillips 66. The company is targeting 2025 mid-cycle adjusted EBITDA of $14 billion, up from $10 billion in 2022. Cost savings should remain ongoing, with its target calling for a total of $1.4 billion in savings, implying the company has $200 million more in savings to go. We like its investment-grade (A3/BBB+) balance sheet and target for 2025 mid-cycle adjusted operating cash flow of $10+ billion, up from $7 billion in 2022, with expectations that it will return more than half of operating cash flow to shareholders. Phillips 66 is a quality income idea for investors seeking exposure to the energy space.
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Hasbro Is Down But Not Out, Shares Yield ~5.3%
Mar 19, 2024
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Image: Hasbro’s shares have faced considerable pressure during the past few years.
Hasbro's recently reported fourth-quarter results weren't great and showed revenue declining 23% as it experienced material weakness in its Consumer Products segment (-25%) and Entertainment division (-49%) in the quarter. On an adjusted basis, backing out large impairment charges, the firm’s operating loss came in at $50 million in the quarter, while it recorded adjusted net earnings of $0.38 per share. Hasbro continues to navigate a difficult demand environment for physical toys, but the company’s free cash flow remains robust and was in excess of cash dividends paid during 2023. Shares yield ~5.3% at the time of this writing.
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Latest Report Updates
Mar 17, 2024
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Check out the latest report updates on the website.
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