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Upcoming Earnings to Watch: Salesforce, Best Buy, HPE

Benjamin Rains
Second-quarter earnings season is winding down, with most of the giants having already reported at least a few weeks ago. Yet, the week of August 20 saw some big names release their results, including Target (TGT) and Alibaba (BABA). And we're not done yet.

Second-quarter earnings season is winding down, with most of the giants having already reported at least a few weeks ago. Yet, the week of August 20 saw some big names release their results, including Target TGT and Alibaba BABA. And we’re not done yet.

Alibaba saw its revenues soar 61% to reach $12.23 billion, but its net income slipped as it invested more heavily its own expansive future, in a move akin to its U.S. counterpart Amazon AMZN. Meanwhile, Target helped to continue an impressive run for U.S. retailers, following strong quarterly results from Walmart WMT, Nordstrom JWN, and many others. But there are still some well-known names out there left to report that investors might want to pay close attention to.

Luckily, investors can always use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. With that said, let’s take a look at three of the biggest earnings reports during the week of August 27.

Salesforce CRM

Salesforce has been a star of Wall Street over the last few years. Shares of CRM have soared 133% over the last three years and 61% during the last 12 months. With that said, the customer relationship management powerhouse is currently trading at a sky-high earnings multiple of 132.6X forward 12-month Zacks Consensus EPS estimates, which marks a massive premium compared to the S&P’s 17.3X.

The firm is projected to see its second-quarter revenues jump over 26% to hit $3.23 billion, based on our current Zacks Consensus Estimate. Meanwhile, Salesforce’s adjusted quarterly earnings are expected to hit $0.47 per share, which would mark a roughly 42% year-over-year jump.

Salesforce is scheduled to report its Q2 financial results after market close on Wednesday, August 29.

Hewlett Packard Enterprise HPE

Hewlett Packard Enterprise split from HP Inc HPQ a few years back, to separate the historic tech company’s operations into two publicly traded firms, with HP taking the PC and printing business and HPE now selling the industrial-grade tech to businesses. Shares of HPE have experienced some major turbulence since 2015, and are down 10% over the last 12 months. However, HPE has seen its stock price pop over 3.5% in the last three months in a sign that investors might expect good things this quarter.

HPE’s adjusted quarterly earnings are projected to jump by 22.6% to reach $0.38 per share—with its fiscal year earnings expected to soar by 53%. At the top of the income statement, the company’s outlook is much less promising. The firm’s fiscal Q3 revenues are expected to sink by 6.5% to hit $7.68 billion, while its full-year revenues are projected to plummet by over 17%.

HPE is set to report its fiscal third-quarter earnings results after the closing bell on Tuesday, August 28.

Best Buy BBY

Shares of Best Buy have skyrocketed nearly 150% during the last 36 months, which might shock some investors. Plus, shares of BBY have popped 19% in the last three months to help them sit near their 52-week and all-time high. Best Buy is certainly not the top-line growth firm it once was, but it has become much more efficient.

Our current estimates are calling for the electronics and technology retailer’s quarterly revenues to climb by roughly 3.5% to hit $9.25 billion, with its full-year revenues expected to see just a 0.35% gain. Yet, Best Buy’s adjusted EPS figure is projected to touch $0.83 per share this quarter, which would represent a 20.3% expansion.  

Best Buy is scheduled to release its second-quarter financial results before the market opens on Tuesday, August 28.

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HP Inc. (HPQ) : Free Stock Analysis Report
Hewlett Packard Enterprise Company (HPE) : Free Stock Analysis Report
Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Salesforce.com Inc (CRM) : Free Stock Analysis Report
Nordstrom, Inc. (JWN) : Free Stock Analysis Report
Best Buy Co., Inc. (BBY) : Free Stock Analysis Report
Target Corporation (TGT) : Free Stock Analysis Report
Walmart Inc. (WMT) : Free Stock Analysis Report
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