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February 27, 2023
MasTec, Inc., DISH Network Corp, Medical Properties Trust, Inc. are the ones to read about today.
Leading equity indices in the US rose as Nasdaq ended the session at 11,467 after a 0.63% gain. S&P 500 ended the session at 3,982.24 after a 0.31% gain.
NICE Ltd. & CommScope Holding Company, Inc. have released their earnings reports; Ciena Corporation and Nutanix, Inc. will publish their respective reports in due course.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets were up and stocks have released their quarterly earnings reports. Have a look.
MasTec | Retains upward momentum since earnings report Thursday
MasTec, Inc. was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.94 per share on revenue of $3 billion, topping estimates of 0.92 per share on revenue of $2.91 billion.
Pronounced bearish market sentiment ensured that the power plant and renewable energy company made a notable 0.52% loss today, declining 51 cents and ultimately closing at $96.67. Daily trading volume (815,015 shares) was slightly greater than the current multiday average of 614,135.
Dish Network: mixed results
The company reported mixed earnings results Thursday, with EPS at 1.47 and revenues at $4 billion. Since the release of its earnings report, Dish Network lost 6.73%.
Dish Network shed 8.06%, falling to $12.2. Daily trading volume (8.85 million shares) increased, making up 193% of the 21-day average (4.58 million).
Medical Properties Trust: EPS of 0.43, Revenue of $380.49 million
Following the release of quarterly results, Medical Properties Trust trades at $10.35.
Despite the risk-off mood, Medical Properties Trust was range-bound between $10.31 to $10.81 and settled at $10.35.
The US healthcare REIT has fallen back around 51.02% from the significant high of $21.54 set 10 months ago. So far this year, it has been under-performing the Nasdaq by 19.54%. The healthcare facility REIT's market cap currently stands at $6.18 billion with an average daily volume of 15.87 million shares.
Mister Car Wash: mixed results
Mister Car Wash reported mixed earnings results Thursday, with EPS at 0.06 (compared to a consensus of 0.05 Earnings Per Share) and revenue of $214.35 million.
An influx of sellers pushed the car wash chain to session lows around $9 while establishing a $9 to $9.53 session range today.
Having set a significant high of $16.37 11 months ago, the car wash chain is trading 42.52% lower. Mister Car Wash's market cap currently stands at $2.78 billion with an average daily trading volume of 1.55 million shares.
