19.26 0.00 (0.00%)
After hours: 4:20PM EST
|Bid||19.24 x 800|
|Ask||19.25 x 1100|
|Day's Range||19.17 - 19.36|
|52 Week Range||15.17 - 20.90|
|Beta (3Y Monthly)||1.46|
|PE Ratio (TTM)||6.10|
|Earnings Date||Jan 8, 2020 - Jan 13, 2020|
|Forward Dividend & Yield||0.50 (2.57%)|
|1y Target Est||25.00|
Aphria (NYSE:APHA) reported its second consecutive quarterly profit Oct. 15. Initially, Aphria stock jumped 25% on the news. Since then, it's fallen back some. More importantly, it still trades 11% below where it started the year. Source: Shutterstock What gives?It seems investors have no clue what they want from cannabis stocks these days. That's really bad news for anyone expecting to profit from APHA stock or any of the other Canadian producers. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Irwin Simon and Aphria StockIn the nine months since Aphria's chairman, Irwin Simon, was named interim CEO of the company, the former Hain Celestial (NASDAQ:HAIN) CEO's been focused on generating consistent profits. * 7 Top-Notch REITs to Buy for Income "In the context of poor sector sentiment, profitability becoming an increasing focus, and guidance scarce, this print is very reassuring and supports our conviction in the name," Jefferies Financial (NYSE:JEF) analyst Ryan Tomkins stated in a note to clients in August after notching its first of two consecutive profits. "Names who can show a route to profitability (or are there now) have the greatest likelihood of attracting near term investor interest."So, the fact it was able to deliver a second consecutive quarterly profit at a time when companies like WeWork are trying to IPO despite losing millions of dollars, suggests that investors have completely lost faith in the cannabis industry.It doesn't help when you realize that the CAD$16.4 million profit Aphria reported Oct. 15, excluding the non-operating income of CAD$20.3 million, would actually have been a CAD$3.9 million loss. Nor does it help that 76% of the company's revenue in Q1 2020 was from CC Pharma, Aphria's German pharmaceutical distributor. Sure, the company intends to use CC Pharma as its platform for cannabis growth in Europe, it's got a ways to go before the division is generating substantial cannabis revenues. Sales Improvements and Aphria StockIn the first quarter, Aphria grew its cannabis revenue by 164% year over year to C$35.1 million and 7.6% on a sequential basis from Q4 2019. That's good news in an industry that can't seem to generate a profit to save its life. If you're not making money because you're building scale, you would think investors would at least be happy about the triple-digit sales gains that Aphria and the rest of the big players are delivering, yet that doesn't seem to be the case. Irwin Simon's got to be frustrated that Aphria grew sales by 164%, delivered an all-in cost of C$2.52 per gram on the 6.0 million grams of cannabis sold during the quarter, and generated a small adjusted EBITDA profit of C$1.3 million (by comparison, Aurora Cannabis (NYSE:ACB) had an adjusted EBITDA loss of $11.7 million) but its share price continues to trade around $5, well below its 52-week high of $13.45. With Aphria projecting annualized Canadian marijuana revenue of C$1 billion by the end of 2020's calendar year and some of the industry's best cost controls, it ought to be able to continue to generate quarterly adjusted EBITDA profits. The problem is investors don't seem to care. The Bottom Line on Aphria StockIn the past, I've been skeptical of Simon's ability to drive Aphria to future success. However, like many of the analysts who've chimed in since the company announced its first-quarter results, I'm more optimistic today than I was at the start of the year. Down 11% year to date through October 23 and 58% over the past year, aggressive investors interested in a cannabis play ought to be considering APHA stock. It can't be any worse than some of the money-losing unicorns that have gone public in the past year. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Cybersecurity Stocks to Keep Your Portfolio Safe * 7 Top-Notch REITs to Buy for Income * 5 Reasons Why I Still Believe in Hexo Stock The post Dumping Aphria Stock over Profit Concerns Is a Huge Mistake appeared first on InvestorPlace.
Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients' money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth also depends on it. Regardless of the various methods used by elite investors like David Tepper and David […]
(Bloomberg Opinion) -- When JPMorgan Chase & Co. reports its earnings Tuesday, one question investors will want answered is what the bank is doing with WeWork. The disgraced unicorn, whose valuation went from $47 billion to less than $15 billion in a matter of weeks, could run out of money as soon as next month. Just like the rest of the junk-rated corporate world, WeWork is looking to dig out of its cash-flow woes with more credit. The company is currently weighing two options: a roughly $5 billion financing package led by JPMorgan, and selling a controlling stake to SoftBank Group Corp. WeWork prefers the bank rescue, Bloomberg News reported.Part of the deal may include at least $2 billion in financing with an exorbitant 15% coupon, a person familiar with the matter said. That’s double what WeWork paid for a $702 million bond in April 2018, and compares with a range of 2.5% to 6.2% for its bank loans, according to the company’s prospectus. To top it off, the $2 billion chunk is structured as payment-in-kind notes, which allows the company to pay interest via the issuance of additional bonds. This structure essentially allows WeWork to squirm out of cash outlays and kick the repayment can down the road.JPMorgan CEO Jamie Dimon could well say that WeWork’s rescue package proves the full-service bank will “be there in good times and bad” for its clients. The reality is, the lender can’t wriggle out of WeWork as easily as your traditional investment bank, whose responsibilities end when an IPO is pulled. JPMorgan has been at WeWork’s side the entire time, grooming the company to become the $47 billion bubble that it was. In recent years, Dimon has made a considerable effort to win big IPO deals by pitching the bank as a soup-to-nuts operation. With WeWork, JPMorgan did just that. The bank participated in a funding round that valued the company at $5 billion in 2014, and followed up with a $650 million credit line in 2015 and an additional $500 million two years later. JPMorgan’s role was so prominent that WeWork listed the bank, along with founder Adam Neumann, SoftBank and Benchmark Capital, among its “investors” in the 2018 bond-offering memorandum. It’s therefore not unreasonable to suspect that JPMorgan is trying to avoid potential impairments by rescuing the startup from the brink of collapse. Jefferies Financial Group Inc., for instance, already wrote down the value of its WeWork investment by $146 million. Potential losses related to WeWork have also prompted analysts to cut earnings estimates for Goldman Sachs Group Inc., which also reports Tuesday — a revision amounting to a 25% fall in profit from a year earlier.Some of this could hit JPMorgan indirectly, too. Any pullback in the operations of WeWork, a major lessee of commercial real estate, could swipe at the entire sector, which counts JPMorgan as its third-biggest lender in the U.S.But most likely, the WeWork hiccup won't leave a dent in the business of megabanks like JPMorgan, which spans commercial to investment banking. Rather, this $5 billion rescue may reflect Dimon’s faith that throwing capital at a business concept with no profitability in the foreseeable future is still an effective strategy in the fantastical world of unicorns. Just look at how the financing is being restructured: The $2 billion of debt may carry an equity warrant so that investors can boost their return to around 30% if the company achieves a $20 billion valuation, Bloomberg News reported. In other words, as long as credit investors keep the liquidity taps open, WeWork’s business model could still scale up quickly. Once it’s too big to fail, wouldn’t stock investors want exposure, too?And who else on the Street can provide better financing than JPMorgan? As I’ve written, the lender has emerged as a big winner from the collapse of Lehman Brothers Holdings Inc. Thanks to fast retail growth, it has more money to lend. And well-loved by shareholders, JPMorgan can afford to take some risks, such as branching into lending to non-conventional corporates (like WeWork).No doubt, WeWork is a cash vampire. But who can feed one better than a bank? So move over, SoftBank. When it comes to incubating startups, your $100 billion Vision Fund has nothing on the most prominent commercial lender in the U.S. To contact the author of this story: Shuli Ren at email@example.comTo contact the editor responsible for this story: Rachel Rosenthal at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. She previously wrote on markets for Barron's, following a career as an investment banker, and is a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Jefferies Financial Group Inc. (JEF) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
New York-based asset manager appeared on our Five Star radar screen: Jefferies Financial Group Inc. (JEF), asserts growth and income specialist Mark Skousen, editor of Five Star Trader.
Del Frisco's Double Eagle located in Midtown Manhattan is one of the highest-grossing-volume restaurants in the country.
Jefferies, a long-standing lender to Tilman Fertitta’s Landry’s Inc, has committed US$300m in debt financing to fund the restaurateur's acquisition of Del Frisco’s’ steakhouse business from private equity firm L Catterton, three sources familiar with the transaction said. The acquisition expands Fertitta’s hospitality and entertainment portfolio, which already comprises Landry’s, National Basketball Association team the Houston Rockets and the Golden Nugget Casino.
HOUSTON/NEW YORK, Sept 27 (Reuters) - Jefferies Financial Group has laid off 15 people in its energy investment banking team, as the bank reacts to a slowdown of mergers and acquisitions activity among oil and gas companies, sources familiar with the matter said on Friday. Jefferies declined to comment. The slowdown comes as shareholders, unhappy with years of substandard returns from their investments in oil and gas, have pushed companies to eschew growth and focus on developing existing positions, and cost cutting - all aimed at boosting the amount of cash given back to investors.
Despite the lackluster start to Monday's action, the bulls staged a respectable recovery effort. By the time yesterday's closing bell rang, however, those buyers were backing down. The S&P 500 essentially broke even in yesterday's session.Source: Shutterstock Overstock.com (NASDAQ:OSTK) is arguably the reason stocks couldn't log a gain on Monday. Although not a particularly large company, the particularly large loss of 25% it booked yesterday still proved to be dead weight. The announcement of a new CEO and his subsequent contraction of the company's EBITDA guidance rattled investors. At the other end of the spectrum, Advanced Micro Devices (NASDAQ:AMD) rallied 2%. With considerably more decliners than advancers though, that move just wasn't enough. * 7 Stocks to Buy Under $10 Headed into Tuesday's session, it's the stock charts of Gilead Sciences (NASDAQ:GILD), Jefferies Financial Group (NYSE:JEF) and Baker Hughes a GE Co. (NYSE:BHGE) that deserve a more detailed inspection. Here's what's most noteworthy.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Baker Hughes a GE Co. (BHGE)All oil and gas stocks are tricky to trade, impacted not just by demand for fuel, but impacted by changes in supply as well. Throw on the political aspects of crude pricing, and anything goes.Still, energy stock charts are subject to the same interpretations other charts are. That's also true of Baker Hughes, and even at a time when its partial-parent company General Electric (NYSE:GE) is severing its relationship with the oil and gas player. It's that event, in fact, that's driving the finality of an event that has been taking shape for some time now. * Click to EnlargeThe falling resistance line that's ultimately responsible for the weakness since the middle of last year, plotted as a blue dashed line on both stock charts, is under pressure again. * Although that technical ceiling has been tested before, resulting in lower lows, since the low around $20.50 was made late last year that level appears to have become a more absolute floor. * Simultaneously, Baker Hughes shares are once again testing the technical resistance of the 200-day moving average line, marked in white on both stock charts. The struggle to clear it is actually encouraging. Gilead Sciences (GILD)Gilead Sciences has been off and on our trading radar for months now. Just when it looks like it's going to break out, it falters. But, just when it looks like it's going to break down, it rebounds. The end results is a range-bound chart … a range that's narrowing.GILD stock, however, continues to inch closer to a breakout by virtue of (once again) testing the upper boundary of that narrowing trading range. Although still not over the hurdle, another test is coming this week. That test has something of a bullish edge. * It's subtle, but take note of the fact that the purple 50-day moving average line is close to crossing above the white 200-day moving average line after the two lines bearishly diverged last year. * We've seen it before to no avail, but this time, the amount of bullish volume seems to be a little more solid than usual. * The weekly chart is telling. A long-standing falling resistance line plotted in purple is bearing down on a couple of rising support levels, plotted in blue and yellow. With little room left to roam, support and resistance will soon force a move outside of the range that's in play. Jefferies Financial Group (JEF)Contrary to the common assumption, a reversal of a stock chart isn't necessarily a singular even. Sometimes it's a process that can take shape over time, and requires several repeated efforts to shrug off the old trend and start a new one.That may be what's happening with Jefferies Financial Group shares right now. Last year's bearishness hasn't been perfectly and completely supplanted by new bullishness. But, the wide swings are now starting to force some higher highs and higher lows. It has also started to happen with decided support that bodes well from here. * Click to EnlargeIt's difficult to see given all the volatility since late last year. But, the re-convergence of all the key moving average lines beginning last month ends last year's bearish divergence. * Yesterday's action is also more meaningful than it may seem on the surface. The gain, which took shape on a tepid day for the market, was spurred by support at the white 200-day line and unfurled on huge volume. * Zooming out to the weekly timeframe, much-needed help for the budding uptrend can be seen. Although not perfect, a rising support line marked in yellow has materialized, giving the bulls something to latch onto.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Under $10 * 30 Marijuana Stocks to Buy as the Future Turns Green * 7 Consumer Stocks Ready to Rally Hard The post 3 Big Stock Charts for Tuesday: Baker Hughes, Gilead Sciences and Jefferies Financial Group appeared first on InvestorPlace.
NEW YORK , Sept. 20, 2019 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 effective prior to the open of trading on Thursday, ...
The dividend amounts to 1 share of the Wisconsin consumer-products specialist for each 40 shares of the New York investment bank.