4/22-4/23 Earnings Previews (R) (SWKS)


Posted on April 23rd, by Mitchell Warren in Free Articles, Options Risk Management, Trade Ideas. Comments Off on 4/22-4/23 Earnings Previews (R) (SWKS)

Earnings Previews

  1. DFS Earnings Preview- Highlighted buying in the July $65 calls earlier today. Call to put ratio at 3:1. Stock put in a higher low on the weekly chart over the past two weeks and has moved higher after earnings on the past two reports. Average analyst price target of $63.50.
  2. FTI Earnings Preview- Over 1,500 May $57.50 calls were bought for $0.65-$0.80 each today ahead of earnings tonight. Typically trades 275 calls per day. Call to put ratio is 13:1. This oil related services & equipment company has no major resistance until the $58-$60 level. Trades at a forward PEG ratio of 0.92x (2014 estimates), 8.7% revenue growth, and has an average analyst price target of $62. The stock has moved lower on the last three reports, but has moved higher on three of the four reports before then.
  3. IGT Earnings Preview- Large buying in the May $14 and $15 calls today ahead of tonight’s report. Call to put ratio is 20:1. Net call premium is +$321K vs. net put premium of -$8K. Technicals remain weak as the stock has been trending since the fall. Trades at a P/E ratio of 11.97x (2015 estimates), PEG ratio of 0.82x (2015 estimates), -9% revenue growth this year, but is expected to stabilize in 2015, and has an average analyst price target of $15. The stock has declined after earnings on four out of the last five reports.
  4. SWKS Earnings Preview- Roughly 3k May 17 $37 calls were purchased for $1.25 each on 4/16. Call to put ratio is 1.3:1 today led by a buyer of 1k May 17 $37 calls for $2.00 each today. The stock has moved higher after earnings on the last three reports and on four out of the last five reports. The stock found support at the 50-day EMA last week and is now poised to make a run for the low $40′s. Trades at a P/E ratio of 14.46x (2014 estimates), PEG ratio of 0.78x (2014 estimates), 11.6% revenue growth, and has an average analyst price target of $40.
  5. APD Earnings Preview- More than 1k May $120 calls were bought for $2.95-$3.20 each. Large open interest remains in the Jan. 2015 $135 calls. Call to put ratio of 8:1. This is a Bill Ackman favorite. Stock has moved higher on two out of the last three reports. Long-term uptrend remains intact. Trades at a P/E ratio of 18.64x (2015 estimates), 4-6% revenue growth over the next two years, and has an average analyst price target of $109.
  6. OC Earnings Preview- 5k Aug. $42 puts were sold for $2.00 each today ahead of tomorrow morning’s report. Typically 332 puts trade per day. The stock has moved lower on four out of the last six reports. The stock continues to trend higher, putting in a higher low on the weekly chart last week, which sets up for a move up to $46-$48. It trades at a P/E ratio of 17.85x (2014 estimates), PEG ratio of 0.55x (2014 estimates), P/S ratio of 0.95x, 5.9% revenue growth, and has an average analyst price target of $49.
  7. R Earnings Preview- More than 1,200 May $82.50 calls were bought for $1.60-$1.74 each and 1,631 June $82.50 calls were bought for $2.55 today ahead of tomorrow morning’s report. The call to put ratio is 3:1. Typically trades 227 calls per day. Stock has moved higher on five out of the last seven reports. The long-term uptrend remains intact from July 2012. Ryder Systems trades at a P/E ratio of 12.89x (2015 estimates), PEG ratio of 0.77x (2015 estimates), P/S ratio of 0.67x, 5% revenue growth, and has an average analyst price target of $88.

These earnings previews are 1st published on the daily unusual options activity posts ahead of earnings.

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