Tuesday, December 3
4.8/5 (5)

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Johnson & Johnson (NYSE: JNJ)  is expected to earn $1.98 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $2.12. Johnson & Johnson beat the earnings estimate by 11.33% in June 2020, 13.3% in Mar 2020, 1.08% in Dec 2019, and 6% in Sep 2019. Johnson & Johnson is a global health care products manufacturer.

Alpha: 0.10% (annualized), Beta: 0.77, R-Squared: 0.43, Market Cap: $397.47 billion, Revenue Growth: 4.03%, Operating Margin: 26.24%, P/E: 26.56, Dividend Yield: 2.68%. Rating: NEUTRAL.

JPMorgan Chase & Co (NYSE: JPM)  is expected to earn $2.26 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $2.28. JPMorgan Chase & Co beat the earnings estimate by 2.99% in June 2020, -54.12% in Mar 2020, 10.78% in Dec 2019, and 9.84% in Sep 2019. JPMorgan Chase & Co is a global investment banking company. 

Alpha: 10% (annualized), Beta: 0.99, R-Squared: 0.78, Market Cap: $308.41 billion, Revenue Growth: 13.37%, Operating Margin: 27.29%, P/E: 13.55, Dividend Yield: 3.56%. Rating: BUY/LONG.

Citigroup Inc. (NYSE: JPM)  is expected to earn $0.97 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.98. Citigroup Inc. beat the earnings estimate by 6.38% in June 2020, 19.1% in Mar 2020, 4.4% in Dec 2019, and 1.02% in Sep 2019. Citigroup Inc. is a global investment banking company. 

Alpha: -4.04% (annualized), Beta: 1.48, R-Squared: 0.79, Market Cap: $93.53billion, Revenue Growth: 7.08%, Operating Margin: 23.12%, P/E: 7.67, Dividend Yield: 4.54%. Rating: NEUTRAL.

BlackRock, Inc. (NYSE: BLK)  is expected to earn $7.56 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $7.15. BlackRock, Inc. beat the earnings estimate by 13.77% in June 2020, -1.35% in Mar 2020, 8.74% in Dec 2019, and 2.88% in Sep 2019. BlackRock, Inc. is a global investment management company. 

Alpha: 1.71% (annualized), Beta: 1.18, R-Squared: 0.61, Market Cap: $93.25 billion, Revenue Growth: 7.02%, Operating Margin: 38.8%, P/E: 21.52, Dividend Yield: 2.37%. Rating: STRONG BUY/LONG.

Fastenal Company (NASDAQ: FAST)  is expected to earn $0.37 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $0.37. Fastenal Company beat the earnings estimate by 16.67% in June 2020, 2.94% in Mar 2020, -3.12% in Dec 2019, and 5.71% in Sep 2019. Fastenal Company is an industrial supplies company. 

Alpha: 12.50% (annualized), Beta: 1.03, R-Squared: 0.41, Market Cap: $26.74 billion, Revenue Growth: 8.43%, Operating Margin: 19.79%, P/E: 32.09, Dividend Yield: 2.14%. Rating: BUY/LONG.

New Oriental Education & Technology Group Inc. (NYSE: EDU) is a provider of private educational services in China with 26.6 million student enrolments. Earnings forecast information is not available.  

Alpha: 24.94% (annualized), Beta: 1.18, R-Squared: 0.21, Market Cap: US$27.06 billion, Revenue Growth: 24.98%, Operating Margin: 11.15%, P/E: 65.67, Dividend Yield: -. Rating: STRONG BUY/LONG.

Delta Air Lines, Inc. (NYSE: DAL)  is expected to earn -$3.1 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $2.32. Delta Air Lines, Inc. beat the earnings estimate by -11.59% in June 2020, 29.17% in Mar 2020, 21.43% in Dec 2019, and 2.2% in Sep 2019. Delta Air Lines, Inc. is a the US airlines company. 

Alpha: -8.21% (annualized), Beta: 1.18, R-Squared: 0.34, Market Cap: $20.92 billion, Revenue Growth: 3.86%, Operating Margin: 14.16%, P/E: -, Dividend Yield: -. Rating: SELL/SHORT.

First Republic Bank (NYSE: FRC)  is expected to earn $1.38 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.31. First Republic Bank beat the earnings estimate by 16.67% in June 2020, 30.43% in Mar 2020, 10.32% in Dec 2019, and 8.26% in Sep 2019. First Republic Bank provides private banking and wealth management services. 

Alpha: 11.71% (annualized), Beta: 0.85, R-Squared: 0.60, Market Cap: $21.48 billion, Revenue Growth: 21.13%, Operating Margin: 26.70%, P/E: 23.55, Dividend Yield: 0.65%. Rating: STRONG BUY/LONG.

UnitedHealth Group Incorporated (NYSE: UNH)  is expected to earn $2.98 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $3.88. UnitedHealth Group Incorporated beat the earnings estimate by 37.45% in June 2020, 2.2% in Mar 2020, 3.45% in Dec 2019, and 3.47% in Sep 2019. UnitedHealth Group Incorporated provides diversified health care services. 

Alpha: 13.27% (annualized), Beta: 0.66, R-Squared: 0.21, Market Cap: $315.47 billion, Revenue Growth: 11.49%, Operating Margin: 8.1%, P/E: 18.66, Dividend Yield: 1.53%. Rating: STRONG BUY/LONG.

Bank of America Corporation (NYSE: BAC)  is expected to earn $1.38 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.31. Bank of America Corporation beat the earnings estimate by 16.67% in June 2020, 30.43% in Mar 2020, 10.32% in Dec 2019, and 8.26% in Sep 2019. Bank of America Corporation provides consumer banking, global banking, and wealth management services. 

Alpha: 9.02% (annualized), Beta: 1.28, R-Squared: 0.76, Market Cap: $220.89 billion, Revenue Growth: 9.64%, Operating Margin: 29.45%, P/E: 12.27, Dividend Yield: 2.84%. Rating: BUY/LONG.

Wells Fargo & Company (NYSE: WFC)  is expected to earn $0.46 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $0.92. Wells Fargo & Company beat the earnings estimate by -312.5% in June 2020, -95.45% in Mar 2020, -16.96% in Dec 2019, and -20% in Sep 2019. Wells Fargo & Company provides wholesale banking, community banking, and wealth management services. 

Alpha: -8.77% (annualized), Beta: 0.82, R-Squared: 0.65, Market Cap: $104.83 billion, Revenue Growth: 7.66%, Operating Margin: 26.34%, P/E: 27.42, Dividend Yield: 1.58%. Rating: SELL/SHORT.

Goldman Sachs Group, Inc. (NYSE: GS)  is expected to earn $5.37 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $4.79. Goldman Sachs Group, Inc. beat the earnings estimate by 57.68% in June 2020, 9.89% in Mar 2020, -9.81% in Dec 2019, and -4.77% in Sep 2019. Goldman Sachs Group, Inc. provides investment banking and asset management services. 

Alpha: -1.32% (annualized), Beta: 1.24, R-Squared: 0.65, Market Cap: $73.25 billion, Revenue Growth: 28.14%, Operating Margin: 20.95%, P/E: 16.06, Dividend Yield: 2.41%. Rating: NEUTRAL.

U.S. Bancorp (NYSE: USB)  is expected to earn $0.86 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.15. U.S. Bancorp beat the earnings estimate by 20.59% in June 2020, 46.96% in Mar 2020, 0% in Dec 2019, and 3.6% in Sep 2019. U.S. Bancorp provides corporate banking, commercial banking, and wealth management services. 

Alpha: -1.06% (annualized), Beta: 0.90, R-Squared: 0.78, Market Cap: $59.54 billion, Revenue Growth: 9.01%, Operating Margin: 33.33%, P/E: 12.37, Dividend Yield: 4.29%. Rating: NEUTRAL.

PNC Financial Services Group, Inc.  (NYSE: PNC)  is expected to earn $1.99 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $2.94. PNC Financial Services Group, Inc. beat the earnings estimate by -315.91% in June 2020, 41.3% in Mar 2020, 1.71% in Dec 2019, and 5% in Sep 2019. PNC Financial Services Group, Inc. provides diversified financial services in the US. 

Alpha: 4.28% (annualized), Beta: 1.08, R-Squared: 0.76, Market Cap: $49.22 billion, Revenue Growth: 10.33%, Operating Margin: 30.75%, P/E: 7.20, Dividend Yield: 3.98%. Rating: BUY.

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM)  is expected to earn $0.92 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $0.62. Taiwan Semiconductor Manufacturing Company Ltd. beat the earnings estimate by 6.85% in June 2020, 13.64% in Mar 2020, 1.39% in Dec 2019, and -% in Sep 2019. Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits and semiconductors.

Alpha: 17.51% (annualized), Beta: 1.03, R-Squared: 0.23, Market Cap: $419.43 billion, Revenue Growth: 6.19%, Operating Margin: 34.87%, P/E: 40.85, Dividend Yield: 1.92%. Rating: STRONG BUY/LONG.

Honeywell International Inc. (NYSE: HON)  is expected to earn $1.48 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $2.08. Honeywell International Inc. beat the earnings estimate by 9.57% in June 2020, 11.62% in Mar 2020, 0.98% in Dec 2019, and 3.48% in Sep 2019. Honeywell International Inc. a global diversified technology and manufacturing company.

Alpha: 1.24% (annualized), Beta: 1.01, R-Squared: 0.71, Market Cap: $122.92 billion, Revenue Growth: -1%, Operating Margin: 19.96%, P/E: 21.52, Dividend Yield: 2.13%. Rating: NEUTRAL.

Morgan Stanley (NYSE: MS)  is expected to earn $1.26 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.21. Morgan Stanley beat the earnings estimate by 74.36% in June 2020, -7.48% in Mar 2020, 22.45% in Dec 2019, and 10% in Sep 2019. Morgan Stanley is an investment banking company.

Alpha: 5.03% (annualized), Beta: 1.26, R-Squared: 0.66, Market Cap: $88.93 billion, Revenue Growth: 31.49%, Operating Margin: 33.28%, P/E: 9.21, Dividend Yield: 2.87%. Rating: NEUTRAL.

Intuitive Surgical, Inc. (NASDAQ:ISRG)  is expected to earn $1.62 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $3.33. Intuitive Surgical, Inc. beat the earnings estimate by -3.39% in June 2020, 19.63% in Mar 2020, 7.94% in Dec 2019, and 41.7% in Sep 2019. Intuitive Surgical, Inc. manufactures surgical systems.

Alpha: 10.92% (annualized), Beta: 1.03, R-Squared: 0.41, Market Cap: $88.49 billion, Revenue Growth: 17.18%, Operating Margin: 30.69%, P/E: 79.62, Dividend Yield: -. Rating: STRONG BUY/LONG.

Truist Financial Corporation (NASDAQ:TFC)  is expected to earn $0.84 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.07. Truist Financial Corporation beat the earnings estimate by 28.13% in June 2020, 61.11% in Mar 2020, 9.8% in Dec 2019, and 3.88% in Sep 2019. Truist Financial Corporation provides banking and trust services for clients in the US.

Alpha: 4.12% (annualized), Beta: 1.13, R-Squared: 0.82, Market Cap: $58.71 billion, Revenue Growth: 10.51%, Operating Margin: 30.64%, P/E: -, Dividend Yield: 4.17%. Rating: BUY.

The Bank of New York Mellon Corporation (NYSE: BK)  is expected to earn $0.96 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $1.07. The Bank Of New York Mellon Corporation beat the earnings estimate by 7.45% in June 2020, 16.67% in Mar 2020, 2.02% in Dec 2019, and 8.08% in Sep 2019. The Bank Of New York Mellon Corporation is a corporate investment banking company.

Alpha: -1.51% (annualized), Beta: 0.84, R-Squared: 0.57, Market Cap: $33.49 billion, Revenue Growth: 23.31%, Operating Margin: 26.48%, P/E: 8.15, Dividend Yield: 3.29%. Rating: NEUTRAL.

Schlumberger N.V. (NYSE: SLB)  is expected to earn $0.13 per share for the fiscal quarter ending in Sep 2020. The earnings per share (EPS) for the same quarter last year is $0.43. Schlumberger N.V.  beat the earnings estimate by -% in June 2020, 4.17% in Mar 2020, 5.41% in Dec 2019, and 7.5% in Sep 2019. Schlumberger N.V. is an oil and gas services company.

Alpha: -27.40% (annualized), Beta: 1.71, R-Squared: 0.75, Market Cap: $22.36 billion, Revenue Growth: -1.01%, Operating Margin: 8.9%, P/E: -, Dividend Yield: 3.08%. Rating: SELL/SHORT.

Tangency Portfolio – Banks and Financial Services

$100,000 invested in Jan 2015 = $215,332 in Oct 2020. Alpha: 2.94%. See portfolio return comparisons below for full quantitative analysis.

TickerNameAllocation
JPMJ P Morgan Chase & Co1.49%
BLKBlackRock, Inc.29.64%
FRCFIRST REPUBLIC BANK68.86%
Tangency Portfolio – Optimum

$100,000 invested in Jan 2015 = $492,017 in Oct 2020. Alpha: 19.75%. See portfolio return comparisons below for full quantitative analysis.

TickerNameAllocation
EDUNew Oriental Education & Technology Group, Inc.22.41%
UNHUnitedHealth Group Incorporated39.93%
TSMTaiwan Semiconductor Manufacturing Company Ltd.20.57%
ISRGIntuitive Surgical, Inc.17.10%
Portfolio Return Comparisons
MetricsTangency Portfolio – Banks and Financial ServicesTangency Portfolio – OptimumS&P 500 
$100,000 invested in Jan 2015, result in Oct 2020$215,332$492,017$182,490
RebalanceAnnuallyAnnuallyAnnually
Annual Return14.27%31.93%11.03%
Annual Volatility21.37%17.21%14.53%
Sharpe Ratio0.681.650.73
Alpha (annualized)2.94%19.75%0.77%
Beta1.130.860.96
R-Squared63.61%57.38%99.38%
US Market Correlation0.80.761
Gain/Loss Ratio1.181.360.7
Max. Drawdown-24.57%-14.60%-19.43%
Best Year35.04%65.08%31.22%
Worst Year-5.76%1.16%-4.56%
Historical Value-at-Risk (5%)-10.14%-7.22%-7.41%
Analytical Value-at-Risk (5%)-8.88%-5.68%-5.94%
Conditional Value-at-Risk (5%)-11.79%-8.40%-9.72%
Positive Periods41 out of 69 (59.42%)50 out of 69 (72.46%)50 out of 69 (72.46%)
Backtest (years)5.00%5.00%5.00%
Efficient Frontier
Tangency Portfolio and Efficient Frontier for Earnings from Oct 12-Oct 16

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