IntelliPharmaCeutics Intl (NASDAQ:IPCI) last announced its earnings results on Monday, July 13th. The company reported ($0.06) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.05) by $0.01. The company had revenue of $1.20 million for the quarter. On average, analysts predict that IntelliPharmaCeutics Intl will post $-0.1400 earnings per share for the current fiscal year.Zacks cut shares of IntelliPharmaCeutics Intl (NASDAQ:IPCI) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning,Market Beat reports.
Sentiment: Strong Buy
04:58 PM EDT, 07/15/2015 (MT Newswires) -- Kinder Morgan(KMI) reported Q2 earnings of $0.15 per share on revenue of $3.46 billion, both below the analyst consensus of $0.19 per share in earnings on $4.0 billion in revenue, according to Capital IQ.
Separately, the company disclosed an agreement with Shell (RDS.A) for Kinder Morgan(KMI) to purchase 100 percent of Shell's equity interest in Elba Liquefaction Company, LLC (ELC), the owner of the Elba Liquefaction Project, which is proposed to be constructed and operated at the existing Elba Island LNG Terminal near Savannah, Georgia. Kinder Morgan(KMI) currently owns 51 percent of the ELC joint venture. Shell owns the remaining 49 percent and subscribes to 100 percent of the liquefaction capacity.
Kinder Morgan (KMI) will purchase the remaining 49 percent of the joint venture that it does not already own. Kinder Morgan's(KMI) expected incremental investment resulting from this transaction is approximately $630 million, bringing its total incremental investment in all the liquefaction and terminal facilities at Elba Island to approximately $2.1 billion.
Blackstone’s Big Dividend Is “Money Good”
Blackstone Group shareholders should take comfort in the company's growing stockpile of accrued performance fees.
When it comes to partnerships, investors learn to love them for the distributions -- the dividend. But the distributions paid by private equity companies tend to be lumpier. After all, Blackstone Group's (NYSE:BX) routine management fees mostly keep the lights on; less-predictable performance fees are the icing on the cake that sends it into profitability.
But "lumpy" may mischaracterize Blackstone's future payouts. The company ended the latest quarter with $4.9 billion of "net accrued performance fees," equal to $4.17 per share.
Its executives like to think of its accrued performance fees as a sort of receivable; when Blackstone realizes profits earned for its fund investors, it'll pay that sum back out to its shareholders. As for timing, realizing these profits is at Blackstone's discretion, though it has to act as a fiduciary to its clients and work to maximize their profits first and foremost.
Blackstone Accrued Performance Fees
What's driving its profitability
Regardless of where an investor might think we are in the economic cycle, it's clear that valuations are up across the board. The net result is that Blackstone is accruing more and more performance fees, which will eventually be returned to shareholders as it exits investments and books gains for its clients.
On its most recent conference call, Blackstone CFO Laurence Tosi noted that $151 billion of the company's assets under management are currently earning performance fees, an increase of 30% over the prior year. One would hope and expect this to only continue growing. Tosi called this a valuable "compounding effect" that is inherent in the fee-driven business of managing other peoples' money.
When Blackstone reports earnings on Thursday, the good news should continue after a stellar first quarter kicking off 2015. Blackstone was busy fundraising for another mega fund this quarter, gathering a reported $17 billion for BCP VII, one of the largest private equity funds raised since the financial crisis. This follows a beastly $15.8 billion raised for its real estate funds in the first quarter, some of which was almost immediately deployed in a $14 billion deal for some of General Electric's real estate assets.
And although quarterly performance means little in the grand scheme of things, it's hard not to be upbeat about Blackstone's recent fundraising trends and its ability to collect fee-earning assets under management. It's rapidly replacing capital to build new funds as older funds wind down.
As merger and acquisition activity heats up in the public markets, one suspects that Blackstone's older "inventory" of smaller privately held assets might soon lead to big realizations and beefier distributions as time goes on. With $4.17 per share in the kitty in the form of accrued fees, the next few quarters could be particularly lucrative for its investors.
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to be fair. Zack gave this comment..Of course it is just based on missing earning number, etc..not on prospects.. disregard them often...
Sentiment: Strong Buy
IntelliPharmaCeutics Intl (NASDAQ:IPCI) announced its quarterly results before the market opened on Monday, July 13th. The company reported ($0.06) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.05) EPS by $0.01. The company had revenue of $1.20 million for the quarter. (View Earnings Release) Tweet This.
IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) had its "buy" rating reaffirmed by Brean Capital ( ) (analyst Jonathan Aschoff). They now have a $8.00 price target on the stock. 124.7% upside from the previous close of $3.56. The analysts wrote, "Intellipharmaceutics reported revenue of $1.3 million and EPS of $(0.06) for its FY2Q15, versus $1.8 million and $(0.04) consensus, respectively. Total revenue during FY2Q15 came exclusively from licensing revenue from Par for commercial sales of 15 and 30mg generic Focalin XR. Over the quarter, Intellipharmaceutics faced four generic competitors for 15mg Focalin XR, which largely accounts for the revenue trajectory. We believe Par will launch the 5mg strength imminently, as the 180-day first-filer exclusivity recently ended, and this dose represented a branded value of about $73 million for Novartis in its annual 2014 sales. We believe that Par will also be able to launch 10 and 20mg Focalin XR by calendar YE15 when the 180-day exclusivity ends, further offsetting 15mg dose competition. Intellipharmaceutics need only conduct a bioequivalence trial for its proprietary Rexista Oxycodone XR versus Oxycontin, and we believe that the company has already demonstrated bioequivalence in its submission to the FDA. We believe that the company will gradually shift its focus away from ANDAs and involve itself more with proprietary products that can utilize the 505(b)(2) pathway. Intellipharmaceutics ended FY2Q15 with cash of $3 million, which should fund operations into late-2015, and there is also $10 million remaining on the company’s ATM facility.”" Tweet This.
Sentiment: Strong Buy