...Read More
The Latest from
-
October 23, 2019
Highlighted Top: ADNT – Adient plc, AMAG – AMAG Pharmaceuticals, Inc., BZH – Beazer Homes USA, Inc....
Read More -
October 23, 2019
LCI Industries (LCII:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 15.4x Uniform P/E. At these levels, the market has bearish expectations for the firm...
Read More -
October 22, 2019
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: EXLS – ExlService Holdings Corporation Other Highlights: G, LPLA, VG...
Read More -
October 22, 2019
Welbilt, Inc. (WBT:USA) currently trades slightly below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 19.3x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about net income, material costs, and their Crem business...
Read More -
October 21, 2019
ExlService Holdings, Inc. (EXLS:USA) currently trades near corporate averages relative to UAFRS-based (Uniform) Earnings, with a 21.2x Uniform P/E. At these levels, the market has bearish expectations for the firm...
Read More -
October 18, 2019
Vonage Holdings Corp. (VG:USA) currently trades above recent averages relative to UAFRS-based (Uniform) Earnings, with a 29.0x Uniform P/E. However, even at these levels, the market has bearish expectations for the firm...
Read More -
October 17, 2019
LPL Financial Holdings Inc. (LPLA:USA) currently trades near historical lows relative to UAFRS-based (Uniform) Earnings, with a 14.3x Uniform P/E...
Read More -
October 17, 2019
Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals.
Company Specific Highlights & Insights...
Read More -
October 17, 2019
Summary Headlines – Inside This Month
- It’s steady as she goes in a choppy sea, but no storm clouds on the horizon. For those who have read the last two Market Phase Cycle reports, this month’s report will read as more of a confirmation of prior signals. Signals around investment and earnings growth, valuations, credit, and sentiment are all signaling a sideways market, with limited growth opportunities in the near-term, but limited real downside risk catalysts. Weaker earnings growth and neutral technical signals point to a likely range-bound market in the near-term, until earnings can re-engage
- While headlines abound about recession, it is important to note that recessions are not caused by weak earnings growth, rather they are caused by credit destruction. There are no signals of this coming. A low-to-no credit risk environment suggests limited risk to US equities in 2019...
-
October 17, 2019
When someone refers to the titans of finance, people often think of names like Steven Schwartzman in private equity, Jamie Dimon in traditional banking, Ken Moelis in investment banking, or Steve Cohen for hedge funds. But this is really missing the forest from the trees....
Read More -
October 16, 2019
Genpact Limited (G:USA) currently trades near corporate averages relative to Uniform Earnings, with a 20.9x Uniform P/E. At these levels, the market has bearish expectations for the firm...
Read More