The last season of results in Spain, corresponding to the second quarter of the year, was surrounded by a halo of nervousness and fear on the part of investors about how the high inflation rates were going to affect sales and, above all, profit margins. And, despite the pessimism that was bought, the published figures have not been as bad as discounted. .
The truth is that the technical recession that is already hitting the United States, runaway inflation — or the monetary policies carried out by central banks as a way to mitigate the macroeconomic situation do not seem to be making a dent in the forecasts. Thus, up to 51% of the securities achieved an increase in their profit estimates for this year compared to what the market expected at the end of the second quarter.
Double digit improvements
These increases have a clear winner: . The entity improves its profit forecasts for this 2022 by 15%, being able to obtain a profit of up to 663 million, compared to the 577 estimated at the end of June. “The results of the second quarter have widely exceeded our estimates and those of the consensus, with an interest margin above forecasts, a better reading of other income, operating expenses and provisions, which have favored a net profit of 50% above the market consensus”, pointed out from Renta 4 about its results. Since 2021, the bank has not stopped surprising the market with its business figures quarter by quarter.
Sabadell has clearly been one of the banking entities that has benefited from the rate hike by the European Central Bank, thanks, in part, to its more domestic business -along with CaixaBank and Bankinter-. This is demonstrated by the annual profits that it accumulates on the stock market, which are around 8%, and it is among the most bullish on the Ibex 35 in 2022.
With all this, the consensus of analysts gathered by FactSet still sees potential in the value and places its target price at 1.02 euros per share, which would not only leave the firm with a 59% run, but would also exceed the annual maximums which marked in February at 0.90 euros.
The bank is not only attractive due to its potential (times that the profit is included in the share price) of 5.6 times and it grants one of the highest shareholder remunerations on the Ibex 35, offering a 6.5% dividend yield.
“Repsol is one of the multi-energy companies with the best prospects”
Driven by the crisis unleashed in energy raw materials as a result of the Russian-Ukrainian conflict, it is experiencing a sweet year on the stock market. beat “consensus estimates in all lines of business”, according to Renta 4.
“Repsol presents solid results driven by the rise in the price of oil and gas. It is one of the multi-energy companies with the best prospects: it has a healthy balance sheet, it trades at low multiples, attractive dividend yields and its presence in the area of renewables”, believes the Bankinter analysis team. Since the end of June and, therefore, the second quarter, the oil company has seen its profit forecasts increase by nearly 11%, although its annual improvements are even more surprising: it will earn up to 115% more than analysts expected at the beginning of the year, pocketing up to 5,616 million euros in profits in 2022.
Despite the volatility that has marked its price throughout this year, its share advances 28% and. And still, Repsol has not exhausted its potential on the stock market. The consensus of analysts gathered by FactSet gives it a 28% way to go on the floor, being able to reach 17.34 euros per share, with which it would exceed the current highs of the year located at 16.12 euros.
The blows cannot with BBVA
The tightening of monetary policies has taken its toll on , due to the internationalization of its business and especially its market in Turkey, where inflation is soaring. In the year, it collapses about 14% in the stock market. However, this misconduct is not being noted in the results of its activity and they far exceeded market estimates, according to Renta 4. Thus, from the results, the entity improves its profit forecasts by around 10% and expects BBVA to collect 5,291 million in profits this 2022.
With just two months completed within the Ibex, it is close to its historical maximums located at 43.64 euros. In the second quarter, it achieved up to 390 million profit, exceeding the 268 expected by analysts. Thus, its estimated profit for 2022 has improved by almost 9% since the end of June. Currently, it stands as the second value that earns the most on the Ibex 35 in the year, with an advance of 33.5%. Despite trading above its target price,
The group is completed by ArcelorMittal, Aena, Telefónica, Sacyr, CaixaBank and Solaria, which also improve their earnings forecasts by more than 5% compared to what was expected at the end of the second quarter.
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