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Genco Shipping (GNK) – Reaping the benefits of a favorable environment

Posted on by Admin

Friday, May 06, 2022

Genco Shipping (GNK)
Reaping the benefits of a favorable environment

Genco Shipping & Trading Limited, incorporated on September 27, 2004, transports iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes through the ownership and operation of drybulk carrier vessels. The Company is engaged in the ocean transportation of drybulk cargoes around the world through the ownership and operation of drybulk carrier vessels. As of December 31, 2016, its fleet consisted of 61 drybulk carriers, including 13 Capesize, six Panamax, four Ultramax, 21 Supramax, two Handymax and 15 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 4,735,000 deadweight tons (dwt). Of the vessels in its fleet, 15 are on spot market-related time charters, and 27 are on fixed-rate time charter contracts. As of December 31, 2016, additionally, 19 of the vessels in its fleet were operating in vessel pools.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Revenues benefit from a favorable shipping environment. Revenues rose 55% to $136.2 million, slightly above our forecast of $133.8 million. EBITDA of $58.0 million, up 181%, was slightly below our $60.4 million estimate due to higher operating costs. Net income for the quarter was $41.9 million ($0.97 per share) versus $2.0 million ($0.05) last year, slightly below our estimate of $44.0 million ($1.03). 

Management is making good use of higher cash flow. The company took delivery of two vessels in the quarter, reduced debt by $48.75 million and raised the quarterly dividend 18% to $0.79 per share (14% yield). …

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

FAT Brands Inc. (FAT) – All Together Now – 1Q22 Results

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Friday, May 06, 2022

FAT Brands Inc. (FAT)
All Together Now – 1Q22 Results

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q22 Results. For the first time, all of FAT Brands’ acquisitions were together for a quarter. The Company reported 1Q22 revenue of $97.4 million up from $74.2 million in the fourth quarter, and compared to $6.6 million in 1Q21. The increased revenue reflects the 2022 acquisitions. FAT reported adjusted EBITDA of $15.1 million in 1Q22. Net loss for the quarter was $23.8 million, or $1.45 per share. We had projected revenue of $83 million and a net loss of $12.3 million, or $0.85 per share.

Solid Performance. The restaurant operations continue to post solid performance. Systemwide sales hit $504.9 million from $114.5 million a year ago, driven by the acquisitions. Notably SSS for concepts owned for a year were up 16.8%, and including all locations, were up 11.8%….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Lee Enterprises (LEE) – Results Validate Its Digital Growth Strategy

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Friday, May 06, 2022

Lee Enterprises (LEE)
Results Validate Its Digital Growth Strategy

Lee Enterprises, Incorporated provides local news, information, and advertising primarily in midsize markets in the United States. It publishes 49 daily newspapers, as well as offers 300 weekly newspapers and specialty publications in 23 states. The company also provides online advertising and services; and online infrastructure and online publishing services for approximately 1,500 daily and weekly newspapers and shoppers. In addition, it offers commercial printing services. The company has a strategic alliance with Yahoo!, Inc. to provide its classified employment advertising customer base the opportunity to post job listings and other employment products on Yahoo!s HotJobs national platform. Lee Enterprises, Incorporated was founded in 1890 and is based in Davenport, Iowa.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A little light, but not worrisome. Fiscal Q2 revenues of $190.0 million was slightly less than our $191.2 million estimate. The results reflected better-than-expected growth in its Digital businesses and weaker results in its print advertising business. Adj. EBITDA was $16.9 million versus our $17.8 million estimate. 

Digital excels. Total Digital revenues were $58.1 million, 7% better than our expectation, and represented 31% of total company revenues, up from 27% in fiscal Q1. The strong results were driven by Digital Only Subscription revenue, up 44.7% to $32.9 million, an impressive 26% above expectations. Amplified, its digital agency business, increased revenues 108%. We believe that the strong Digital growth validates the company’s Digital investments and its growth strategy. …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

RCI Hospitality Holdings (RICK) – Sweet Home Alabama

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Friday, May 06, 2022

RCI Hospitality Holdings (RICK)
Sweet Home Alabama

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Adding more Restaurants. RCI Hospitality announced the signing of a franchise agreement for Bombshells Restaurant & Bar that brings three franchise locations of the restaurant to the state of Alabama. The franchisee of the locations will be a newly established entity by Jerry Westland, a hospitality entrepreneur who owns nightclubs, bars, and restaurants. These locations will be opening over the next five years, with the first one being placed in Huntsville.

Continuing to Grow Bombshells. This announcement is a testament to RCI’s strategy of expanding Bombshells into various states as well as expanding on the franchising model for the restaurant. Recall, management’s goal is to have 80-100 locations over the next five years, and the Company is actively looking at different areas of Texas and Florida in which to expand the brand….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Alvopetro Energy (ALVOF) – April production levels remain on target

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Friday, May 06, 2022

Alvopetro Energy (ALVOF)
April production levels remain on target

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Alvopetro reported April sales volumes of 2,494 barrel of oil equivalent per day (boepd). Results were slightly below March sales volumes of 2,512 boepd and March quarter levels of 2,501 boepd reflecting natural well production declines. Results were slightly above the 2,461 boepd rate we have modeled for the June quarter. The completion of the 182-C1 well in March and the expected completion of the 183-B1 well in May should offset normal well declines and boost overall production going forward.

Alvopetro anticipates announcing 2022-1Q results after market close on May 12th. Management will host a call with investors on May 13th at 10:00 EST. We are expecting revenues of $13.3 million, a 110% annual and 45% sequential increase due mainly to an increase in the price of gas received. We look for EBITDA of $11 million and earnings of $5.9 million ($0.17 per share)….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Entravision Communications (EVC) – In A Strong Growth Mode

Posted on by Admin

Friday, May 06, 2022

Entravision Communications (EVC)
In A Strong Growth Mode

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Exceeds expectations. While revenues were largely in line with expectations, the company overachieved our adj. EBITDA estimate. Total company revenues increased a very strong 32% to $197.2 million (vs our $198.3 million estimate) and adj. EBITDA increased an impressive 28% to $18.1 million (vs our $16.1 million estimate). 

Digital on fire. The company’s digital businesses, which contributed 78% of total company revenue, increased a strong 51%. The company is executing on an attractive Digital growth strategy of expanding reach into new countries and territories and expanding commercial partnerships. In addition, the company is expanding its programmatic ad tech platform into new territories as well.  …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Baudax Bio (BXRX) – First Quarter 2022 Reported; Slow But Steady Progress

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Friday, May 06, 2022

Baudax Bio (BXRX)
First Quarter 2022 Reported; Slow But Steady Progress

Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q 2022 revenues reported. Late Wednesday the 4th, Baudax Bio released their 1Q 2022 results and held a conference call early on the 5th.  Revenues of $.422 million, somewhat due to timing differences, missed our estimate of $.577 million.  Covid still muted Q1 procedures, but procedure growth showed signs of life late in the quarter.

Company reduced headcount and expenses. In March, the Company implemented a reduction in force (RIF) workplace plan to curtail expenses and reduce need for capital. Intended to reduce operating costs in connection with ANJESO commercialization, the company expects approximately $4.0 million in severance and related costs to be taken by end of 2Q 2022, of which approximately $1.7 million was taken late in Q1. Cash burn will be substantially reduced in 2H 2022 and beyond. The company is evaluating possible partnering options which will further reduce cash needs.

…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Coeur Mining (CDE) – First Quarter Miss; Upside Remains Despite Lowered Price Target

Posted on by Admin

Friday, May 06, 2022

Coeur Mining (CDE)
First Quarter Miss; Upside Remains Despite Lowered Price Target

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

First quarter 2022 results. Coeur reported a first quarter adjusted net loss of $13.8 million or $(0.05) per share, compared to net income of $13.9 million, or $0.06 per share during the prior year period, and our loss estimate of $7.9 million, or $(0.03) per share. Coeur reported full year adjusted EBITDA of $41.5 million compared to our estimate of $40.5 million. First quarter sales included 1.8 million ounces of silver and 28,242 million ounces of gold. Coeur’s gold hedging program now covers 70% of its 2022 expected gold production at an average forward price of $1,955 per ounce and 38% of its 2023 expected gold production at an average forward price of $1,982 per ounce.

Updating estimates. While we have lowered our full year 2022 EPS estimate to $0.02 from $0.05 to reflect first quarter results and higher interest expense, our EBITDA estimate has been increased to $182.1 from $180.9 to reflect adjustments, including to amortization. During the quarter, Coeur bolstered its balance sheet by increasing available borrowing capacity under its revolving credit facility to $390 million from $300 million and completed a $100 million at-the-market equity offering with the sale of roughly 22 million shares. As of May 2, there were 280,806,345 shares issued and outstanding. For the balance of the year, we expect Coeur to lean on its borrowing capacity if needed. …

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

DLH Holdings (DLHC) – Solid Core Operating Results

Posted on by Admin

Friday, May 06, 2022

DLH Holdings (DLHC)
Solid Core Operating Results

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2QFY22 Results. Revenue totaled $108.7 million, up from $61.5 million in 2Q21. The short-term FEMA awards accounted for $39.8 million of the increase. Earnings were $7.2 million, or $0.50 per diluted share, compared to $2.6 million, or $0.19 per diluted share last year. Ex FEMA, DLH would have reported net income of $3.1 million, or $0.22 per share. We had projected revenue of $95.2 million and EPS of $0.33.

Nice Underlying Growth. Ex FEMA, the underlying business grew 12.1%, in excess of the overall market growth rate. DLH experienced continued growth in its VA-related contracts, as well as HHS programs, with Head Start revenue jumping $2 million sequentially and $1.5 million y-o-y. Demand for DLH’s services continues to increase across the board….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Lineage Cell Therapeutics to Report First Quarter 2022 Financial Results and Provide Business Update on May 12, 2022

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Lineage Cell Therapeutics to Report First Quarter 2022 Financial Results and Provide Business Update on May 12, 2022

CARLSBAD, Calif.–()–Lineage Cell
Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that it will report its first quarter 2022 financial and operating results on Thursday, May 12, 2022, following the close of the U.S. financial markets. Lineage management will also host a conference call and webcast on Thursday, May 12, 2022, at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time to discuss its first quarter 2022 financial and operating results and to provide a business update.

Interested parties may access the conference call by dialing (866) 888-8633 from the U.S. and Canada and (636) 812-6629 from elsewhere outside the U.S. and Canada and should request the “Lineage Cell Therapeutics Call”. A live webcast of the conference call will be available online in the Investors section of Lineage’s website. A replay of the webcast will be available on Lineage’s website for 30 days and a telephone replay will be available through May 20, 2022, by dialing (855) 859-2056 from the U.S. and Canada and (404) 537-3406 from elsewhere outside the U.S. and Canada and entering conference ID number 1875641.

About Lineage Cell Therapeutics, Inc.

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs. Lineage’s programs are based on its robust proprietary cell-based therapy platform and associated in-house development and manufacturing capabilities. With this platform Lineage develops and manufactures specialized, terminally differentiated human cells from its pluripotent and progenitor cell starting materials. These differentiated cells are developed to either replace or support cells that are dysfunctional or absent due to degenerative disease or traumatic injury or administered as a means of helping the body mount an effective immune response to cancer. Lineage’s clinical programs are in markets with billion dollar opportunities and include five allogeneic (“off-the-shelf”) product candidates: (i) OpRegen, a retinal pigment epithelial cell therapy in Phase 1/2a development for the treatment of geographic atrophy secondary to age-related macular degeneration, which is being developed under a worldwide collaboration with Roche and Genentech, a member of the Roche Group; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of acute spinal cord injuries; (iii) VAC2, a dendritic cell therapy produced from Lineage’s VAC technology platform for immuno-oncology and infectious disease, currently in Phase 1 clinical development for the treatment of non-small cell lung cancer (iv) ANP1, an auditory neuronal progenitor cell therapy for the potential treatment of auditory neuropathy, and (v) PNC1, a photoreceptor neural cell therapy for the treatment of vision loss due to photoreceptor dysfunction or damage. For more information, please visit www.lineagecell.com or follow the company on Twitter @LineageCell.

Contacts

Lineage Cell Therapeutics, Inc. IR
Ioana C. Hone
(
ir@lineagecell.com)
(442) 287-8963

Solebury Trout IR
Justin Frantz
(
jfrantz@soleburytrout.com )
(617) 221-9100

Russo Partners – Media Relations
Nic Johnson or David Schull
Nic.johnson@russopartnersllc.com
David.schull@russopartnersllc.com
(212) 845-4242

Release – Alvopetro Announces April 2022 Sales Volumes and Q1 2022 Results Webcast

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Alvopetro Announces April 2022 Sales Volumes and Q1 2022 Results Webcast

Research, News, and Market Data on Alvopetro Energy

CALGARY, AB, May 5, 2022 /CNW/ – Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces April sales volumes of 2,494 boepd, including natural gas sales of 14.3 MMcfpd and associated natural gas liquids sales from condensate of 107 bopd, based on field estimates. 

Upcoming Q1 2022 results webcast

Alvopetro anticipates announcing Q1 2022 results on May 12, 2022 after markets close and will host a live webcast to discuss the results at 8:00 am Mountain time on May 13, 2022. Details for joining the event are as follows:

Date: May 13, 2022

Time: 8:00 AM Mountain/10:00 AM Eastern

Link: https://us06web.zoom.us/j/84318417369

Dial-in Numbers: https://us06web.zoom.us/u/kckYUds2mG

Webinar ID: 843 1841 7369

 

The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com.

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation. 

Social Media

Follow Alvopetro on our social media channels at the following links:

Twitter – https://twitter.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube: https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

Alvopetro Energy Ltd.’s vision is to become a leading
independent upstream and midstream operator in Brazil. Our strategy is to unlock
the on-shore natural gas potential in the state of Bahia in Brazil,
building off the development of our Caburé natural gas field and our strategic
midstream infrastructure.

Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.

All amounts contained in
this new release are in United States dollars, unless otherwise stated and all
tabular amounts are in thousands of United States dollars, except as otherwise
noted.

Abbreviations: 

boepd

=

barrels of oil equivalent (“boe”) per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

MMcf

=

million cubic feet

MMcfpd

=

million cubic feet per day

 

BOE Disclosure. The term barrels of oil
equivalent (“boe”) may be misleading, particularly if used in isolation.
A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of
natural gas to barrels of oil equivalence is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency at the wellhead. All boe conversions in this news release
are derived from converting gas to oil in the ratio mix of six thousand cubic
feet of gas to one barrel of oil.

SOURCE Alvopetro Energy Ltd.

For further information: Corey C. Ruttan, President, Chief Executive Officer and Director, or Alison Howard, Chief Financial Officer, Phone: 587.794.4224, Email: info@alvopetro.com,
www.alvopetro.com, (TSX-V: ALV) (OTCQX: ALVOF)

Release – Motorsport Games to Report First Quarter 2022 Financial Results

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Motorsport Games to Report First Quarter 2022 Financial Results

Research, News, and Market Data on Motorsport Games

MIAMI, May 05, 2022 (GLOBE NEWSWIRE) — Motorsport Games, Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, will report financial results for the first quarter ended March 31, 2022 on Monday, May 16, 2022 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results.

Participants may access the live webcast on the Company’s investor relations website at https://ir.motorsportgames.com under “Events.” The call may also be accessed by dialing 1 (800) 786-6104 from the U.S., or by dialing 1 (416) 981-9029 internationally.

About Motorsport
Games:
Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others.

For more information about Motorsport Games visit: www.motorsportgames.com.

Contacts:
Investors:

Ashley DeSimone
Ashley.DeSimone@icrinc.com

CoreCivic, Inc. (CXW) – First Look at 1Q22

Posted on by Admin

Thursday, May 05, 2022

CoreCivic, Inc. (CXW)
First Look at 1Q22

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A Miss. CoreCivic reported first quarter results after the market closed yesterday. Revenue came in at $453 million, compared to $454.7 million in the same period last year. Consensus was $465 million. The Company reported adjusted net income of $17.4 million, or $0.14 per share, compared to $29.3 million, or $0.24 per share last year. Consensus EPS net income was $23.1 million, or $0.19 per share. We had projected revenue of $473 million and EPS of $0.18.

What Drove the Miss? Headwinds include a challenging labor market, especially for nurses, disruption from the commencement of the La Palma contract in Arizona, and a drop in federal detainees, partially offset by higher populations at the state level….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.