At this rate, we'll top $1 in late 2029...
The board of Delek Logistics has declared a fourth-quarter dividend of 41.5 cents per limited partnership unit that will be paid out in the middle of next month to holders of record Feb. 4. The payout is up a penny from Q3, which was up a penny from Q2, which was — ah, you get it...
Mt. Pleasant is in line to land a tile manufacturer that is preparing to invest $55 million in a 500,000-square-foot plant that will employ 180 people. UST Inc. is getting $5.2 million in tax incentives to build the factory. Tim Hodge at the Daily Herald has more details about the Maury County deal.
Two analysts are expecting good things from Pinnacle Financial Partners following the company's fourth-quarter report, which pumped up the stock by 7 percent Wednesday. At Sterne Agee, Peyton Green has raised his rating to 'buy' from 'hold,' while Jefferson Harralson at Keefe Bruyette & Woods now rates the stock at 'outperform,' up from 'market perform.' Harralson now sees Pinnacle (Ticker: PNFP) going to $40 instead of $30; the stock ended Wednesday's session at $34.50.
Cory Garcia at Raymond James isn't as upbeat about the prospects for Delek US Holdings shares for a number reasons. In downgrading the stock (Ticker: DK), Garcia cites both valuation and a lack of near-term catalysts for the refining sector in general. Delek shares closed Wednesday at $32.51 and have climbed more than 20 percent in the past three months.
Kathleen Madigan at the Journal points out that housing starts finished the fourth quarter at their fastest pace since the spring of 2008. On top of that, she adds, home builder sentiment suggests more good quarters to come. That should translate to good times at Nashville-based Louisiana-Pacific, which will report its fourth-quarter results next month. But analysts aren't forecasting big things from the company: Their Q4 consensus EPS forecast has ticked down a penny to 5 cents in the past month while 2014's number has come down to $1.22 from $1.30. LP stock (Ticker: LPX) closed at $17.29 last Friday and is down slightly over the past three months.
Richard Eastman at Robert W. Baird says investors should take a more cautious stance on Clarcor following the Franklin-based filtration company's earnings report. He has cut his rating to 'neutral' from 'outperform' and trimmed his price target to $59 from $62. Clarcor (Ticker: CLC) was changing hands at $58.40 in early Friday trading.
Analysts at JPMorgan have similarly lowered their opinion of Healthcare Realty Trust to 'neutral' from 'overweight' and taken down their target to $23 from $26. Shares of Healthcare Realty (Ticker: HR) were down slightly at $22.32 this morning. They've fallen about 8 percent in the past three months.
Filtration and packaging manufacturer Clarcor reported fourth-quarter profits of $32.9 million, down 10 percent from its year-prior results, as gross margins slipped on slightly higher revenues. Clarcor's EPS of 65 cents was 5 cents below analysts' expectations but includes $2.7 million, or 4 cents per share, in costs related to the company's recent GE and Bekaert acquisitions. CEO Chris Conway and his team also released early 2014 EPS guidance of $2.55 to $2.70, below the Street's $2.73.
Avondale Partners analyst Mark Montagna has reiterated his 'market perform' rating on shares of Genesco following the company's encouraging mid-quarter sales update. And while he has lowered his fiscal 2015 earnings estimates by three cents to $2.19, Montagna says "there are a lot of positives beginning to emerge at Lids," the company's main hat brand, as well as easier comparisons in the coming quarters. His price target for Genesco is $70, a little below where the stock (Ticker: GCO) trades now.
Analysts at Salman Partners have lowered their opinion of Louisiana-Pacific to 'hold' from 'buy' and trimmed their target price to $17 from $18.50. Shares of the construction materials manufacturer (Ticker: LPX) closed Wednesday at $18.09 and have climbed slightly over the past three months.