Nov. 25, 2014, 8:50 AM
- Adjusted net income of $117M, or $1.38 per diluted share vs. $86M, or $0.97 per diluted share in the year ago quarter.
- Revenue by segment: Coatings +15%; Paints +7%.
- Repurchased 1.2M shares for $91M during the quarter.
- Guidance: Annual fiscal 2015 sales growth in the low single-digits. Fiscal 2015 annual diluted EPS (as adjusted) of $4.45 to $4.65.
- The company's Board of Directors also authorized a new share repurchase program of up to $1.5B of the corporation's outstanding shares of common stock.
- FQ4 results
Nov. 25, 2014, 7:33 AM
Nov. 24, 2014, 5:30 PM
Nov. 8, 2014, 9:25 AM
- Energy companies finally are starting to halt a few new U.S. drilling projects as oil prices fall, which Barclays believes may put the U.S. oil boom at risk but "on balance, we believe lower oil prices are good.”
- If strong U.S. energy growth is interrupted, spending in the sector could be cut by $40B, but consumers could save $70B next year as the price at the pump falls for gasoline and diesel, according to Barclays head of U.S. equity strategy Jonathan Glionna.
- The most likely beneficiaries would be discretionary areas such as restaurants, entertainment, apparel, electronics and furniture, he says.
- Glionna lists 27 stocks that could benefit from lower oil prices: AAL, AGCO, AXL, BERY, BLMN, BWLD, CHH, CLX, DE, DPZ, FDX, GM, HD, KMB, KR, KSS, MHK, MMM, PENN, PPG, SAVE, SHW, TGT, UPS, VAL, WMS, WMT.
Aug. 19, 2014, 5:31 PM
Aug. 12, 2014, 8:17 AM
- Net income of $97.8M, or $1.14 per diluted share vs. $93.8, or $1.04 per diluted share in the year ago quarter.
- Net sales of $1.2B vs. $1.1B in the same period of 2013.
- The company repurchased 1.1M shares, for $81M during the quarter.
- Updated guidance: FY F2014 annual sales to 9% growth, from its previous estimate of 7%-9% growth. FY F2014 annual diluted EPS is adjusted to between $4.05-$4.15, compared to its previous guidance of $3.95-$4.15.
- FQ3 results
- VAL +2.1% premarket
Aug. 12, 2014, 7:32 AM
Aug. 11, 2014, 5:30 PM
Jul. 22, 2014, 10:43 AM
- Valspar (VAL +3.7%) is upgraded to Conviction Buy from Neutral with a $97 price target, up from $83, at Goldman Sachs, which cites quality growth and a discount valuation.
- Goldman says the paint industry has been re-rating on the appeal of solid underlying growth and superior cash flow, but VAL has not kept up with its primary peers and now carries a substantial 4x-6x P/E multiple discount.
- With VAL building traction through new business initiatives, cyclical lift in its industrial businesses, and recovery in its global paint markets, the firm expects improved investor awareness and a shrinking valuation gap.
May 19, 2014, 6:01 PM
May 19, 2014, 7:33 AM
May 18, 2014, 5:30 PM
Feb. 19, 2014, 5:18 PM
Feb. 12, 2014, 7:30 AM
Feb. 12, 2014, 12:05 AM
Feb. 11, 2014, 5:30 PM
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