China Petroleum & Chemical (SNP) Exceeds Profit Forecast; Mizuho Sees Upside in HCA Holdings (HCA)
Before the opening bell Monday, China Petroleum & Chemical Corp. (NYSE:SNP) – also known as Sinopec Corp. – delivered profit and revenue numbers in its annual financial results that exceeded analysts’ expectations.
For the full year 2016, China Petroleum & Chemical posted revenue of RMB 1.93 trillion and net income of RMB 46.7 billion or RMB 0.385 per share, topping the Capital IQ Consensus estimate of RMB 0.33 per share on revenues of RMB 1.92 trillion for the period.
1 US Dollar = RMB 6.88 (Chinese yuan)
According to its business outlook, the energy and chemical company expects first quarter 2017 net income – attributable to its shareholders – to increase 150% year over year.
SNP stock surged $0.44 (or +0.56%) to $79.19 on Friday’s trading session.
China Petroleum & Chemical, which engages in the oil and gas, and chemical operations and businesses in the People’s Republic of China, has 1.21B shares outstanding, market capitalization (intraday) of $95.88B and SNP stock 52-week range is between $60.67 and $81.64 per share.
Analysts at Mizuho upgraded HCA Holdings Inc. (NYSE:HCA) shares from a Neutral to a Buy rating with a price target of $98.00, representing an upside potential of 13.9% from Friday’s closing price of $86.04.
HCA estimates full-year 2017 revenue of $43.0 billion to $44.0 billion and net income of $7.20 to $7.60 per diluted share for the period.
HCA Holdings, which provides health care services in the United States and England, has 370.44M shares outstanding, market capitalization (intraday) of $31.87B and HCA stock one-year range is from $67.00 to $88.62 per share.
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