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Omar Venerio
Omar Venerio
Articles (1440) 

3 Stocks Moving Monday

Stocks move on quarterly results and new ratings

March 12, 2018 | About:

In Monday trading, shares of Micron Technology Inc. (NASDAQ:MU) rallied about 10% after analysts at Nomura raised their price target to $100 from $55, an 83% upside to Friday’s closing price.

In addition, Instinet analyst Romit Shah said of the stock:

"We see DRAM pricing resuming an upward trend in Q2, a first-time dividend and share buyback announcement in May, continued margin expansion in NAND and increased M&A discussion as important catalysts."

The average price target is $61.89, which is 3.5% higher than the current market price.

In addition, Time Warner Inc. (NYSE:TWX) traded higher on Monday on rating news, in which the company received an upgrade to buy from UBS.

Shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) gained ground on the heels of the company reporting its financial results for the fourth quarter. The company posted adjusted earnings per share of three cents. Revenue grew 2.9% year over year to $134.52 million, beating estimates by $27.4million.

Revenues net of voyage expenses for the period were $106.6 million, a 7.6% increase from the prior-year quarter, while total voyage expenses declined 11.8% as more of the fleet’s vessels were placed under time charters.

Moreover, the company will pay a dividend of five cents per common share on May 10. The company will have distributed a total of $10.65 per share in dividends since its listing on the New York Stock Exchange in March 2002.

Disclosure: The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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