FactSet (FDS, $300.53) Q3 earnings and revenue exceed expectations; company announces dividend hike and share buyback
FactSet shares rose during pre-market trading, following news of its fiscal third-quarter earnings beat.
The financial data services company reported earnings of $2.62 per share, which surpassed analysts’ estimates of $2.36 per share. The figure also reflects a +20.2% increase from the same quarter in the prior year.
Revenue of $364.5 million also came in higher compared to the Street expectations of $359.25 million.
According to CEO Phil Snow, FactSet’s performance reveals resilience of the company’s long-term strategy in the face of sector and industry headwinds. Snow emphasized on the company’s connected data and technology solutions as being appreciated by clients.
FactSet also announced a hike in its quarterly dividend by 12.5% to 72 cents per share - marking the 14th consecutive year of its dividend raise.
It has also approved a $210 million addition to its current share buyback program.
FDS's Stochastic Oscillator remains in oversold zone for 2 days
Be on the lookout for a price bounce soon.
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Notable companies
The most notable companies in this group are Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Charles Schwab Corp (The) (NYSE:SCHW), CME Group (NASDAQ:CME).
Industry description
These banks specialize in underwriting (helping companies with debt financing or equity issuances), IPOs, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutions. They might also trade securities on their own accounts. Investment banks potentially thrive on expanding its network of clients, since that could help them increase profits. Goldman Sachs, Morgan Stanley and CME Group Inc are some of the largest investment banking companies.
Market Cap
The average market capitalization across the Investment Banks/Brokers Industry is 11.26B. The market cap for tickers in the group ranges from 13 to 928.5B. PKRSF holds the highest valuation in this group at 928.5B. The lowest valued company is BFCH at 13.
High and low price notable news
The average weekly price growth across all stocks in the Investment Banks/Brokers Industry was -0%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 16,327%. CSOL experienced the highest price growth at 115%, while MIGI experienced the biggest fall at -21%.
Volume
The average weekly volume growth across all stocks in the Investment Banks/Brokers Industry was -23%. For the same stocks of the Industry, the average monthly volume growth was -28% and the average quarterly volume growth was -10%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 59
P/E Growth Rating: 64
Price Growth Rating: 54
SMR Rating: 67
Profit Risk Rating: 72
Seasonality Score: 14 (-100 ... +100)