Earnings Preview: AmBev, Norwegian Cruise Lines, Uber, ViacomCBS, Zynga

More than 1,500 publicly traded companies are scheduled to report March quarter earnings this week with heavy representation from energy exploration and production companies. Other top brands like Google, Ferrari, Pfizer and T-Mobile are on deck as well.

Looking at companies reporting earnings following Tuesday’s closing bell, we have previewed Activision, Devon Energy, Lyft, and others. Here are another five companies set to report earnings before Wednesday’s opening bell: Barrick, Exelon, General Motors, Stratasys and SunPower.

The five companies previewed in this story are scheduled to report earnings after Wednesday’s close or before Thursday’s opening bell.

Uber

Uber Technologies Inc. (NYSE: UBER), like rival Lyft, dodged a bullet last year when California voters rejected a proposition that would have forced the companies (and many others) to treat employees as regular staff, not contractors. Uber’s stock added more than 71% to its value last year, with most coming after the ballot proposition was defeated. The shares have gyrated wildly so far this year and currently show a gain of just 2.3% for the year to date. The company reports results after markets close Wednesday.

Not many analysts shun the stock, as 33 of 39 rate the shares a Buy or Strong Buy. At a current price of around $52.30, the upside potential based on a consensus price target of $70.21 is 34%. At the high target of $82, upside potential is about 57%.

Analysts expect Uber to report a loss per share of $0.54, only about a third as large as the loss in the same quarter last year. Revenue is tabbed at $3.28 billion, down 7.6%. For the full fiscal year, analysts are forecasting a net loss of $1.53 per share, well under half the loss posted in 2020. Revenue is expected to rise by 44.5% to $16.09 billion.

The stock currently trades at about 481.1 times estimated 2022 earnings and 40.1 times estimated 2023 earnings. The stock’s 52-week trading range is $26.81 to $64.05. Uber does not pay a dividend, and the average daily trading volume is about 18.4 million shares.

Zynga

When Jefferies analysts reviewed top game developer stocks, they credited Zynga Inc. (NASDAQ: ZNGA) as the “best-positioned to win” in a world that no longer includes the Identifier for Advertisers (IDFA) (at least by default on iPhones) that companies like Znyga used to track users. The stock added more than 61% in 2020 with 2021 able to tack on another 3% so far. The company reports results after markets close Wednesday.

Of 15 firms covering the company, seven rate the stock as a Buy or Strong Buy. The shares currently trade at around $10.10, implying a potential upside of 30% to the consensus price target of $13.12. At the high target of $15, the upside potential is around 50%.

Zynga is expected to post earnings per share (EPS) of $0.09, up by 33% year over year for the March quarter. Revenue is expected to increase by 61.5% to $685.98 million. For the full year, analysts forecast EPS of $0.40 and revenue of $2.84 billion, gains of 14% and 25%, respectively.

Znyga trades at 25.3 times expected 2021 EPS, 21.8 times estimated 2022 earnings and 19.9 times expected 2023 earnings. The stock’s 52-week range is $7.42 to $12.32. Zynga does not pay a dividend. The average daily trading volume is 18.4 million shares.

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