The latest news round up for trade-able items on the First Global Credit platform, covering:
- Acuity Brands
- Cisco Systems
- The Coca-Cola Company
Acuity Brands (NYSE:AYI)
Acuity Brand’s share price reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $230.92 and last traded at $230.45, with a volume of 112,698 shares traded. The stock had previously closed at $226.16.
A number of equities analysts have issued reports on AYI shares. Canaccord Genuity reiterated a “buy” rating and issued a $211.00 target price on shares of Acuity Brands in a report on Monday, September 28th. William Blair restated a “buy” rating on shares of Acuity Brands in a research note on Wednesday, September 23rd. Zacks Investment Research raised Acuity Brands from a “hold” rating to a “buy” rating and set a $219.00 target price for the company in a research report on Monday, September 7th. Oppenheimer reissued a “buy” rating on shares of Acuity Brands in a report on Monday, August 24th. Finally, Piper Jaffray restated a “buy” rating and issued a $233.00 target price (up previously from $215.00) on shares of Acuity Brands in a research note on Saturday, August 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $190.00.
The stock’s 50 day moving average price is $209.22 and its 200 day moving average price is $194.34. The firm has a market capitalization of $9.83 billion and a PE ratio of 45.11.
The Islamic State (ISIS) is using the digital currency Bitcoin to hide its terrorist activities, a group of “hacktivists” says.
Ghost Security Group tells Fox News it has found multiple Bitcoin accounts used by the terrorist group, including one with $3 million worth of Bitcoin. GhostSec member Michael K. Smith II told Fox that counterterrorism officials worry ISIS is getting gold and other financial instruments such as Bitcoin.
One GhostSec member said the amount of virtual currency owned by ISIS is about 1 percent to 3 percent of its income, which is $4.7 million and $15.6 million.
The U.S. Treasury Department says ISIS rakes in $468 million to $520 million a year from robbery, extortion, oil sales, ransom payments and overseas donations.
Bitcoin, like cash, allows for person-to-person transfers without going through banks or other financial institutions. But, unlike cash, Bitcoin can instantly be transferred anywhere via the Internet. It can be converted into local currency or simply used to buy goods directly.
Though Bitcoin allows for a level of anonymity, its advocates also note that all transactions are recorded on a public ledger. If agencies tracking ISIS can uncover a single spend or transfer of Bitcoin, they can then backtrack where it came from and where it goes next. And since all transactions are on a public ledger, they don’t even need a warrant.
Cisco Systems, Inc (NASDAQ:CSCO)
Cisco Systems was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.
Credit Suisse reiterated an underperform rating and set a $22.00 target price (down from $26.40) on shares of Cisco Systems in a report on Friday, November 13th. Wunderlich reaffirmed a “hold” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Saturday, August 15th.
Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Also, Director John L. Hennessy sold 15,000 shares of Cisco Systems stock in a transaction on Thursday, October 22nd.
The company had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $12.65 billion.
Finally, Morgan Stanley downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $29.03 to $30.00 in a research report on Monday, August 17th. In calendar ’14, the company turned over $17.6m versus $2.3m in the prior year. On average, analysts anticipate that Cisco Systems will post $2.28 earnings per share for the current fiscal year. The disclosure for this sale can be found here. The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 20th. This represents a $0.84 annualized dividend and a yield of 3.08%. The company has a consensus rating of “Buy” and an average price target of $32.42.
Gold hovered close to its lowest in nearly six years on Thursday, as the dollar held at multi-month highs and U.S. economic data reinforced market expectations of an interest rate hike this year.
Data on Wednesday showed that U.S. manufacturing output rose well above economists’ expectations in October, while business spending plans surged. New applications for unemployment benefits dropped last week. Other data showed only a small increase in U.S. consumer spending in October, but did little to alter views that the economy was strong enough for the Federal Reserve to raise rates at its next policy meeting in December.
Spot gold rose slightly to $1,072.70 an ounce by 0634 GMT, after dropping 0.4 percent on Wednesday. The metal dipped to $1,064.95 last week, the lowest since February 2010.
The dollar index, a measure of strength against a basket of major currencies, held near 100.17, an eight-month high reached in the previous session, hurting gold. “We are keeping an eye on the dollar as a possible catalyst (for gold),” ScotiaMocatta analysts said in a note. “The dollar index is within reach of the multi-year high of 100.39. A break of this level would put downside pressure on gold with a break of $1,066 yielding initial $1,045, which is the 2010 low,” they said. The 100.39 level, last reached in March this year, would be the dollar index’s highest since April 2003.
A stronger greenback makes dollar-denominated gold expensive for holders of other currencies, while higher rates could dent the appeal of non-yielding bullion. Gold had seen some safe-haven bids earlier in the week after Turkey downed a Russian fighter jet, stoking tensions between the two countries, but have faded since as investors fretted over the U.S. rate hike. Any worsening of tensions could see investors seeking safety in bullion. Russia sent an advanced missile system to Syria on Wednesday to protect its jets operating there and pledged its air force would keep flying missions near Turkish air space.
Intuit, Inc (NASDAQ:INTU)
Intuit has earned an “A” credit rating from analysts at Morningstar. The firm’s “A” rating suggests that the company is a low default risk. They also gave their stock a three star rating.
In related news, EVP Daniel A. Wernikoff sold 11,019 shares of the stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $101.85, for a total transaction of $1,122,285.15. Following the sale, the executive vice president now directly owns 305 shares of the company’s stock, valued at $31,064.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission. Also, EVP Henry Tayloe Stansbury sold 4,221 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $86.20, for a total value of $363,850.20. Following the sale, the executive vice president now directly owns 1,554 shares in the company, valued at $133,954.80.
Intuit opened at 99.85 on Thursday. Intuit has a one year low of $79.63 and a one year high of $109.21. The firm has a market cap of $26.36 billion and a PE ratio of 67.19. The company’s 50-day moving average is $96.52 and its 200-day moving average is $98.55.
Netflix, Inc (NASDAQ:NFLX)
As the major competitors of Netflix Inc. (NASDAQ: NFLX) strive to catch up, the video-streaming company exerts additional effort to improve its original content strategy. This approach by Netflix has worked wonders for the firm’s stock, notably with its success with House of Cards. Many analysts believe that investing to create exclusive programs and content is how the media streaming provider will maintain its lead.
With this, a lot of market experts and investors are still bullish on the NFLX stock. Amazon.com Inc’s Prime and Hulu LLC streaming service are aggressively trying to obtain a portion of the market share of Netflix. However, original media content makes it more difficult for these rivals to close in.
The company was able to boost and lock in its clients with addictive exclusive programs that can’t be seen anywhere else. Indeed, Netflix is exceptionally good at implementing this strategy.
The Coca-Cola Company (NYSE:KO)
In a recent survey, 4 analysts were expecting an average of $0.42 earnings per share for Coca Cola Company, for the 4 quarter of the fiscal year ending in 2016. The global brokerage major raises the current price target from $46 per share to $48 per share.
Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. This means 60% are positive. Technical indicators show a 50 day moving average of 42.17.
KO has been the topic of a number of analyst reports. UBS maintained the stock on October 22 with “Buy” rating. Vetr raised Coca-Cola from a “hold” rating to a “buy” rating and set a $41.14 price objective on the stock in a research note on Monday, August 31st. Finally, Sterne Agee CRT initiated the stock with “Buy” rating in a July 21 report. Its up 0.07, from 0.76 in 2015Q1.
Visa, Inc (NYSE:V)
Company shares of Visa Inc. have a $85.60 price target by Wall Street analysts. The analysts covering Visa Inc. on an average basis are expecting the company to report earnings of $0.70 for the next fiscal quarter and $2.88 for the current year. This is the consensus target issued by Thomson Reuters, based on the research brokerages they poll.
In taking a look at the price levels of the stock, Visa Inc. is trading $2.26 away or +2.93% from its 50-day moving average of $77.29. Looking further out, the equity is $7.29 away from its 200-day moving average of $72.27, or a difference of +10.08%. Most recently, the stock is trading $+32.60% away from its 52-week low of $60.00and $-1.45 away from its 52-week high mark of $81.01.
In taking a look at the current valuation of Visa Inc., the price/earnings ratio, commonly referred to as the P/E ratio, is a standard method for comparing equities based on their relative expense. This is calculated by dividing its current price per share by its earnings per share. The P/E ratio for the company currently stands at 30.67. Taking a step further, investors can take into consideration growth of the company’s earnings by looking at its PEG ratio, or the Price/Earnings Growth ratio. A low PEG ratio means that the company is trading at a low price relative to its earnings growth potential. A high PEG ratio means that the company’s stock is trading at a high price relative to its earnings growth potential. The firm currently has a three to five year PEG ratio of 1.72.