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Abercrombie & Fitch, Molson Coors Beverage, Clean Energy Fuels Corp, BP and ENN Energy highlighted as Zacks Bull and Bear of the Day

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·8 min read
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For Immediate Release

Chicago, IL – March 15, 2021 – Zacks Equity Research Shares of Abercrombie & Fitch Co. ANF as the Bull of the Day, Molson Coors Beverage Company TAP as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Clean Energy Fuels Corporation CLNE, BP P.L.C. BP and ENN Energy Holdings Ltd. XNGSY.

Here is a synopsis of all five stocks:

Bull of the Day:

Abercrombie & Fitch Co. is a specialty retailer of premium, high-quality casual apparel for men, women, and kids through a network of approximately 850 stores across North America, Europe, Asia and the Middle East. Its product portfolio includes knit and woven shirts, jeans, sweaters, outerwear, and accessories for men, women and kids, under the Abercrombie & Fitch, abercrombie kids and Hollister brands.

Q4 Earnings Recap

Overall, Abercrombie’s fourth quarter earnings results came in better than expected.

Non-GAAP earnings per share of $1.50 easily beat our consensus, while revenue of $1.12 billion fell in-line with projections.

Digital net sales spiked 34% to $639 million, reflecting robust growth for every month last quarter.

ANF’s gross profit rate improved 230 basis points to 60.5% thanks to higher average unit retail and slightly lower average unit cost.

CEO Fran Horowitz said that “I am proud of our execution in the fourth quarter, where we exceeded initial internal expectations. We listened and remained close to our customer, adjusting our product and messaging to align with their new reality.”

And for the fiscal year, “we continued to make strategic investments to support future growth including: opening smaller, more omni-enabled experiences; adding senior level talent in key areas including marketing, data and analytics and digital; and further building-out regional teams in EMEA and APAC,” Horowitz continued.

ANF Breaks Out

In the past six months, shares of ANF have jumped almost 136% compared to the S&P 500’s 17.7% increase. Earnings estimates have been rising too, and ANF is a Zacks Rank #1 (Strong Buy) right now.

For fiscal 2021, nine analysts have revised their bottom-line estimate upwards in the last 60 days, and the Zacks Consensus Estimate has moved up 33 cents to $1.36 per share. Earnings are expected to grow over 286% compared to the prior year period. Fiscal 2022 looks strong too, and earnings should see positive year-over-year growth as well.

Post earnings, ANF received a slew of price target raises from analysts, ranging from $30 to $33. At B. Riley Securities, analyst Susan Anderson believes the retailer will exit the Covid-19 crisis with lower costs and a higher merchandise margin rate, while Citi analyst Paul Lejuez said the stock’s risk/reward is “very favorable” at current levels.

If you’re an investor searching for a retail stock to add to your portfolio, make sure to keep ANF on your shortlist.

Bear of the Day:

Molson Coors Beverage Company, previously known as Molson Coors Brewing Company, is a global manufacturer and seller of beer and other beverage products. It has an impressive and diverse portfolio of owned and partner brands like Blue Moon, Miller, Coors, Leinenkugel’s, Carling, among many others.

Q4 Earnings Recap

Shares of TAP slipped 5% after the company released its fourth quarter earnings results back in February; EPS, revenue, and EBITDA all missed the Street consensus.

Non-GAAP earnings fell to a loss of 40 cents per share.

Revenue fell 7.7% during Q4, mostly driven by financial volume declines, especially the steep 26.4% decrease of financial volumes in Europe. This was due to an unfavorable channel mix and on-premise restrictions in the U.K.

But, net sales in the U.S., which is Molson Coors’ largest market, increased 1.9%, which partially offset disappointing Europe and Canada results.

Bottom Line

TAP is now a Zacks Rank #5 (Strong Sell).

Six analysts have cut their full year earnings outlook over the past 60 days, and the consensus estimate has fallen 40 cents to $4.29 per share; earnings are expected to see a slight year-over-year decline for fiscal 2021, but TAP’s bottom line should be poised for a rebound in 2022.

Shares are up about 13.5% in the past one-year period compared to the S&P 500’s gain of 43.6%. 

Looking ahead, Molson anticipates net sales revenue growth in the mid-single digits, with flat adjusted EBITDA growth.

Despite the hurdles the beverage giant faced last year, management is confident going forward. CEO Gavin Hattersley commented that Molson’s revitalization is working, setting the stage “to build our emerging growth division into a $1 billion revenue business by 2023.”

Additional content:

Clean Energy Fuels Joins with BP with Renewable Natural Gas

Clean Energy Fuels Corp. entered a joint venture with BP Products North America Inc., a subsidiary of integrated major BP P.L.C., for the purpose of producing more carbon-neutral fuel.

Clean Energy and BP Products formed the joint venture to develop, own and operate new renewable natural gas (“RNG”) projects at dairy farms and other agricultural facilities to produce cleaner fuels with few greenhouse gas emissions.

RNG is made from methane that has been extracted from dairies and then transformed into transportation fuels. It has lower greenhouse gas emissions compared to conventional gasoline and diesel, and will help lower the catastrophic effects of climatic fluctuations.

Hence, the California Air Resources Board granted a carbon intensity score of -250 to the carbon-negative RNG projects compared with 97 for diesel and 46 for electric batteries. Notably, the carbon intensity score calculates the extent of carbon emitted during the lifecycle of a given fuel — from producing to burning.

In recent years, climate change and the devastating impacts of the coronavirus pandemic have accelerated the demand for carbon-neutral fuels. Therefore, several heavy-duty vehicle fleets in the world, including UPS, Republic Services, New York Metropolitan Transportation Authority and LA Metro, are efficiently operating numerous vehicles on renewable fuels.

BP will fund $50 million for the development and construction of the RNG facilities. Importantly, growth in Clean Energy’s RNG portfolio is in line with BP’s aim to become a net-zero emission business by 2050 and help customers lower their carbon footprint.

Company Profile & Price Performance

Headquartered in Newport Beach, CA, Clean Energy is the leading provider of natural gas (CNG and LNG) for transportation in North America.

Shares of the utility have outperformed the industry in the past six months. Its stock has gained 419.9% compared with the industry’s 17.5% growth.

Zacks Rank & Stocks to Consider

Clean Energy currently carries a Zacks Rank #4 (Sell).

A better-ranked player in the utility space is ENN Energy Holdings, presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NewJersey Resources’ earnings for 2021 are expected to rise 40.3% year over year.

ENN Energy’s earnings for 2021 are expected to increase 10.3% year over year.

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Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report
Molson Coors Beverage Company (TAP) : Free Stock Analysis Report
BP p.l.c. (BP) : Free Stock Analysis Report
Clean Energy Fuels Corp. (CLNE) : Free Stock Analysis Report
ENN Energy Holdings Ltd. (XNGSY) : Free Stock Analysis Report
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