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Earnings week ahead: Ford, Snap upgraded ahead of reports; Disney faces challenges

Published 03/02/2024, 18:32
Updated 03/02/2024, 18:32
© Reuters.

Investing.com — Here is your Pro preview of the upcoming major earnings reports in the week ahead: Ford, PayPal, Walt Disney , and Snap.

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Ford

Ford Motor (NYSE:F) is expected to report its Q4/23 earnings on Feb 6, after the market close. Analysts forecast an EPS of $0.12 and revenues of $41.4 billion.

Earlier this month, Morgan Stanley reiterated an Overweight rating and $15.00 price target on Ford and named it their new top pick in US autos.

The firm commented:

"A major change in strategy and investor perception has gripped the global auto industry. It’s well known that EV momentum is stalling. What is less appreciated is Detroit’s response. A ‘toggle’ on capital discipline and shareholder return at Ford can put our $21 bull case in play."

Going into earnings, Ford's Financial Health on InvestingPro, which is determined by ranking the company on over 100 factors against companies in the Consumer Discretionary sector and operating in Developed economic markets, scores a 'Good Performance'.

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PayPal

PayPal (NASDAQ:PYPL) is set to report earnings for Q4/23 on Feb 7, post-market close. Wall Street analysts expect the company to post an EPS of $1.36 and revenues of $7.88B for the quarter.

Earlier this week, the company announced a workforce reduction of about 9%, as reported by Bloomberg News, in a move attributed to restructuring initiatives led by new CEO Alex Chriss.

Our ProTips - exclusive to InvestingPro users - underline PayPal’s strengths, including management’s aggressive share buyback, expected net income growth this year, and low P/E ratio relative to near-term earnings growth.

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Walt Disney

Walt Disney (NYSE:DIS) is expected to report earnings for Q1/23 on Feb 7, after the market close. Street estimates stand at $1.04 for EPS and $23.8B for revenues.

According to InvestingPro’s Financial Health section, which is determined by ranking the company on over 100 factors against companies in the Communication Services sector and operating in Developed economic markets, Disney exhibits a 'Good Performance'.

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Investors will be keenly interested in Burbank, California-based company's capacity to increase its Disney+ subscriber count. They anticipate insights from the report will provide clues about the feasibility of Disney's plan to attain profitability in this segment by the end of the fiscal year.

Moreover, the market will be paying particular attention to the company's strategy to trim expenses and decrease content-related spending, all the while meeting the rising demands of consumers.

Snap

Snap (NYSE:SNAP) is expected to report earnings for Q4/23 on Feb 6, after the market close. Street estimates stand at $0.06 for EPS and $1.38B for revenues.

Most recently, in January, the company earned two upgrades. Deutsche Bank upgraded Snap from Hold to Buy with a price target of $19.00 (from $10.00), noting they see a clear, strong catalyst path toward upward revenue and EBITDA revisions.

Meanwhile, OTR Global upgraded Snap from Mixed to Positive.

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