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We’re barely three weeks into the new year, but we’re already seeing some stocks start 2021 on the right foot. This week is Netflix (NASDAQ: NFLX), opening higher on Wednesday after posting explosive quarterly results.
The main premium streaming service isn’t the only one. Earlier this month we saw Tangier factory centers (NYSE: SKT) and fuboTV (NYSE: FUBO) come out of the crisis as well by painting a brighter picture of how 2021 will unfold. Let’s take a look at these three values that kick off the new year with good news.
Image source: Getty Images.
Netflix
We spend a lot of time at home. Streaming video has been a clear beneficiary, and Netflix is the best dog in this burgeoning niche. Netflix saw its popularity increase in the first half of 2020, adding 25.9 million to its growing audience of paying subscribers worldwide. In six months, he had almost as many net additions as the 28 million he added for all of 2019.
Subscriber growth slowed in the second half of the year, but this was widely expected with Netflix dragging so many of its year-round members into the initial “safe-in-place” phase of the pandemic. It still ended up beating its forecast of 6 million net additions in the fourth quarter. Growth of 8.5 million net additions in the last three months of the year pushes the company’s global audience beyond 200 million.
The news is even better. After five quarters of slowing year-over-year revenue growth, he sees revenue picking up. Its profit target is also well ahead of analysts. With Netflix now confident that it can run its day-to-day operations without the need for external funding, the market leader will continue to produce more content than anyone on the planet with money to spare for share buybacks for the first time in a decade. .
Image source: Getty Images.
Tangier factory centers
The operator of 38 outlet shopping centers has had a difficult 2020 with its storefronts temporarily closed and some of its tenants bankrupt. He also suspended his payments in the spring of last year. As a real estate investment trust (REIT), Tangier must distribute at least 90% of its taxable income to investors. He vowed to return to distributions in 2021 if he was on the path to profitability – and it didn’t take long.
Tanger Factory Outlet Centers said a resumption in quarterly payments last week. The new discount mall REIT payout stands at a 5.3% return at Tuesday’s close, but it’s also half of what it was before it suspended distributions last year. Buyer traffic is already 90% of what it was a year ago, and its occupancy rate is expected to peak here at nearly 92%. As it refreshes its portfolio with better brands as tenants, Tangier factory centers may be even better fit than before the pandemic.
Image source: Getty Images.
FuboTV
Streaming services, including Netflix, help keep people entertained, but what are cord cutters turning to for live sports, news broadcasting, and major networks? Live TV streaming services are filling the void as expensive but flexible platforms, and fuboTV has tried to differentiate itself from YouTube TV and Sling TV by focusing on live sports. It offers around 40 sports channels among its more than 100 live networks.
FuboTV drew two naysayers, and one of them – Kerrisdale Capital, which is short on the stock with a price target of $ 10 – pointed to third-party data showing listing momentum has slowed in the during the last two months of 2020. FuboTV increased its subscriber forecast twice during the quarter; was this setting up investors for a fall?
Kerrisdale Capital may want to get its money back from the third-party data source it was unable to attribute. FuboTV recently announced that it is closing 2020 with 545,000 subscribers, well ahead of the 500,000 to 510,000 expected in November and which was as low as a year-end target of 410,000 at the start of the fourth quarter. Revenue increased from 77% to 84% for the last quarter of 2020, accelerating from the still impressive 71% increase recorded in the third quarter.
Of course, there is still a long way to go before the end of this new year. Netflix, Tanger Factory Outlet Centers, and fuboTV are doing a good job of starting 2021 on a winning note.
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