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The Zacks Analyst Blog Highlights: Tesla, JPMorgan, Comcast, Deere & Co, Gap, Nordstrom, Oracle and Boeing

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Zacks Equity Research
·6 min read
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For Immediate Release

Chicago, IL – November 27, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Tesla, Inc. TSLA, JPMorgan Chase & Co. JPM, Comcast Corporation CMCSA, Deere & Company DE, The Gap, Inc. GPS, Nordstrom, Inc. JWN, Oracle Corporation ORCL and The Boeing Company BA.

Here are highlights from Thursday’s Analyst Blog:

Q3 Earnings Scorecard and Analyst Reports for Tesla, JPMorgan and Comcast

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features an update on the ongoing Q3 earnings season, in addition to featuring new research reports on 16 major stocks, including Tesla, JPMorgan Chase and Comcast. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Q3 Earnings Seasons Scorecard

Including this morning's results from Deere & Co. and last evening's results from GapNordstrom and others, we now have seen Q3 results from 488 S&P 500 members. Total earnings for these companies are down -7.6% on -1% lower revenues, with 84.8% beating EPS estimates and 76.8% beating revenue estimates.

This is notably better performance relative to what we saw from this group of companies in the first three quarters of the year. The EPS and revenue beats percentages are the highest in recent years. Importantly, estimates for the current period (2020 Q4) have gone up since the quarter got underway, with the current -11.3% earnings decline up from -13.4% at the end of September.

For full year 2020, total S&P 500 earnings are expected to be down -17% on -4.1% lower revenues, with easy comparisons and upward revisions helping 2021 earnings growth reach +21.6%. This approximates to an index 'EPS' of $132.72 in 2020 and $161.39 in 2021. 

Tesla shares have practically been on fire lately, with the stock up 563.8% in the year-to-date period. Driving this momentum is a combination of first-mover advantage in the e-mobility space with high range vehicles, superior technology, and software edge.

Robust Model 3 demand, ramp up of Model Y production, Shanghai Gigafactory prospects, amazing line-up of upcoming products and aggressive expansion efforts bode well for the firm. Tesla’s S&P 500 inclusion news has further boosted investors' confidence. However, high R&D, SG&A costs and massive capex may clip the margins.

Tesla is investing heavily to boost production capacity and build gigafactories in Berlin and Austin, which are likely to strain its near-term prospects. Waning margins for Model S/X and lofty valuation of the firm are other concerns. Thus, investors are recommended to wait for a better entry point. 

(You can read the full research report on Tesla here >>>)

Shares of JPMorgan have lost -6.3% over the past year against the Zacks Major Regional Banks industry’s loss of -18.1%. The Zacks analyst believes that branch openings in new regions, acquisition of InstaMed, strong mortgage banking business and focus on credit card operations are likely to continue supporting the bank's financials.

Further, despite restriction of capital deployments to conserve liquidity, the company’s cash position remains robust. However, the Federal Reserve’s accommodative policy and near-zero rates are expected to hurt the bank’s interest income and margins.

Also, coronavirus-induced economic downturn is likely to continue hampering business activities. Thus, loan demand will be muted in the near term.

(You can read the full research report on JPMorgan here >>>)

Comcast shares have gained +32.5% over the past six months against the Zacks Cable Television industry’s rise of +26.4%. The Zacks analyst believes that Comcast is benefiting from solid high-speed Internet customer wins.

Its strategy to provide high-speed Internet at an affordable price plays a pivotal role in providing connectivity and improving customer experience. Moreover, coronavirus-led increased media consumption, and work-from-home and online-learning waves bode well for Comcast’s Internet business.

Moreover, its streaming service Peacock has gained significant tract within a short span of time and is a key catalyst in driving broadband sales. However, Comcast persistently suffers from video-subscriber attrition due to cord cutting. Theme park revenues are expected to suffer from indefinite closure of Hollywood park. Further, weakness in film business is also a headwind. Moreover, a leveraged balance sheet is a concern.

(You can read the full research report on Comcast here >>>)

Other noteworthy reports we are featuring today include Oracle and Boeing.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>

Media Contact

Zacks Investment Research

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


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JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
 
Comcast Corporation (CMCSA) : Free Stock Analysis Report
 
Deere & Company (DE) : Free Stock Analysis Report
 
The Boeing Company (BA) : Free Stock Analysis Report
 
Oracle Corporation (ORCL) : Free Stock Analysis Report
 
The Gap, Inc. (GPS) : Free Stock Analysis Report
 
Nordstrom, Inc. (JWN) : Free Stock Analysis Report
 
Tesla, Inc. (TSLA) : Free Stock Analysis Report
 
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