Omega Healthcare Investors, Inc., Post Holdings, Inc., United States Steel Corporation and other stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as Nasdaq lost 1.59% and ended the session at 12,000. S&P 500 shed 1.04% and closed at 4,136.48.
3Rd quarter earnings season is mostly over, with Hartford Financial Services Group Inc & Omega Healthcare Investors, Inc. releasing their earnings reports just this week.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets were down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Omega Healthcare Investors | Retains downward momentum since earnings report Friday
The company reported earnings of 0.19 per share Friday, falling short of expectations of 0.55. Revenue was also lower than expected at $144.85 million versus $222 million. Omega Healthcare Investors, Inc. lost 4.27% since the release of its earnings report.
An influx of sellers pushed the US REIT to session lows around $28.27 while establishing a $28.27 to $29.63 session range Friday.
The US REIT has shed 11.07% over the past three months. So far this year, it has been under-performing the Nasdaq by 10.62%. The company's market cap currently stands at $6.73 billion with an average daily trading volume of 2.54 million shares.
Post Holdings | Extends $1.29 since strong earnings report Friday
Post Holdings released its quarterly earnings report Friday, beating analysts estimates. The company reported earnings of 1.08 per share on revenue of $1.57 billion, topping estimates of 0.68 per share on revenue of $1.49 billion. Since the release of its earnings report, Post Holdings gained 1.37%.
Post Holdings ended Thursday at $94.06. Friday it went up to $96.12 only to drop back, yet still managed to close at $95.35. Daily trading volume (890,972 shares) increased, making up 206% of the 21-day average (432,152).
U.S. Steel: mixed results
U.S. Steel reported earnings results Friday, with EPS at 0.87 and revenues at $2.40 billion; these results are mixed when compared to a consensus of 0.63 Earnings Per Share and $3.94 billion revenue. Since the release of its earnings report, U.S. Steel gained 2.81%.
The juggernaut US steelmaker went up to $30.05, gaining 2.81%. Daily trading volume (12.16 million shares) was above the current multiday average of 6.13 million.