Forward P/E Signals Bullish Undervalued Stocks: $AFL $STX $C

Forward P/E Signals Bullish Undervalued Stocks: $AFL $STX $C

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Forward P/E Signals Bullish Undervalued Stocks: $AFL $STX $C

Aug 14, 2020 (The Market Signal via Comtex) —

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AFLAC’s Q2 performance surpasses estimates, board increases shares approved for repurchase

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AFLAC Incorporated (NYSE:AFL) has a forward P/E of 8.37 which is below its current P/E of 9.44 indicating that the earnings of the company are expected to surge in the future.

Aflac reported its Q2 financials in July, revealing that it performed analysts’ expectations. The company’s earnings for the second quarter were $1.28 per share, which was higher than the estimated $1.03 EPS estimate by Zacks. It was also better than the $1.13 EPS that the company earned in Q2 2019. It was also 24.27% higher than the earnings that the company reported in Q1 2020.

Aflac has so far managed to beat the consensus estimates in the last four consecutive quarters. This highlights the company’s ability to deliver stronger than expected performance.

Seagate Technology rolls out modular data storage solution in India for enterprise use

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Seagate Technology PLC (NASDAQ:STX) has a forward P/E of 8.49 which is way below its current P/E of 11.83 raising the probability of a surge in the company’s earnings in the future.

Seagate recently announced the launch of its new modular data architecture that is aimed at making more effective data storage systems. The solution which targets enterprise use has been rolled out in India and it aims to provide modular flexibility that will allow businesses to scale up their storage solutions.

The company also announced that it has started shipping its 18TB hard disks although they will initially be available to a few customers. However, the company plans to ramp up production and shipping by the end of the year. The company also revealed that it is working towards delivering HAMR hard disks in the future. They will be more superior and have higher storage capacity.

Citigroup is increasing its focus on high-net-worth customers in Singapore

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Citigroup Inc (NYSE:C) has a forward P/E of 8.75 which is way below its current P/E of 9.13 indicating its earnings are currently looking bullish.

Citigroup recently announced that it had promoted San San Chan, its former head of client segment strategy and wealth management. He will now be in charge of the Citigold Private Client busness in Singapore which will focus on wealthy clients in the region. This will allow them to tap into more growth since Singapore is currently one of the fastest-growing economies in Asia and there has been an increasing need for specialized banking services for high-net-worth individuals.

Meanwhile, Citigroup announced a few weeks ago that it will pledge $250 billion which will be used to finance clients that have environmentally friendly initiatives over the next five years. This initiative highlights the bank’s environmental consciousness, as well as its desire and willingness to contribute to a greener environment. Clients will need to validate their green credentials so that they can qualify to be financed by the initiative.

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Disclaimer

comtex tracking

**********************************************************************

As of Monday, 08-10-2020 23:59, the latest Comtex SmarTrend® Alert,
an automated pattern recognition system, indicated a DOWNTREND on
05-16-2012 for AFL @ $42.58.

As of Monday, 0



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