SuperValu, First Solar: S&P Gainers
NEW YORK ( TheStreet) -- The S&P 500 was a sea of red on Tuesday, but SuperValu(SVU) and First Solar (FSLR) stood out as the best-performers in the index. The retailer reported earnings upside and an improved outlook, while the alternative energy company bounced off its all-time low share price.
The S&P 500 dropped 23.61 points, or 1.71%, on Tuesday to 1,358.59, as the equities market suffered its worst decline of the year and fifth-losing day in a row.
Shares of SuperValu rose 15.23% Tuesday to $6.13. The food retailer reported on Tuesday a fourth-quarter loss of $424 million, or $2 a share, compared with a year-earlier profit of $95 million, or 44 cents. Excluding one-time items, earnings in the quarter were 38 cents a share, which beat the average analyst estimate of 35 cents.
SuperValu guided to fiscal 2013 earnings of between $1.27 and $1.42 a share, which also beat the consensus analyst estimate of $1.19.
SuperValu has an estimated price-to-earnings ratio for next year of 4.86X; the average for food retailers and wholesalers is 14.38X. For comparison, both Sysco(SYY) and Whole Foods Market (WFM) have higher forward P/Es of 14.02X and 30.4X, respectively.
Eleven of the 17 analysts who cover SuperValu rate it a hold. Four analysts give the stock a buy rating and two rate it a buy.
TheStreet Ratings gives SuperValu a D+ grade and sell rating.
First Solar shares increased 5.89% to $21.38.
The stock hit a 52-week low on Tuesday of $20.03, which tested the level of $20 at which the solar company's initial public offering priced five years ago.
First Solar's forward P/E is 5.07X; the average for renewable energy equipment companies is 8.7X. For comparison, SunPower(SPWR) has a forward P/E of 10.18X.
Twenty-seven of the 49 analysts who cover First Solar rate it at hold. Six analysts rate the stock a buy and another six give the stock a sell rating.
TheStreet Ratings gives First Solar a C- grade and hold rating.
Other top S&P 500 stocks on Tuesday included:
- Newmont Mining (NEM) : The stock rose 2.02% Tuesday to $48.97. The stock has fallen 18.4% year to date. TheStreet Ratings gives Newmont Mining a C+ grade and hold rating.
- Alpha Natural Resources (ANR) : The stock increased 1.49% Tuesday to $14.27. The stock has fallen 30.15% year to date. TheStreet Ratings gives Alpha Natural Resources a D grade and sell rating.
- Motorola Mobility (MMI) : The stock rose 1.34% Tuesday to $39.37. The stock has increased 1.47% year to date. TheStreet Ratings gives Motorola Mobility a C- grade and hold rating.
- Safeway(SWY) : The stock increased 1.32% Tuesday to $19.90. The stock has fallen 5.42% year to date. TheStreet Ratings gives Safeway a B grade with a buy rating and $22.78 price target.
- Southwestern Energy (SWN) : The stock rose 27 cents, or 0.93%, Tuesday to $29.30. The stock has fallen 8.27% year to date. TheStreet Ratings gives Southwestern Energy a C+ grade and hold rating.
- Range Resources (RRC) : The stock increased 30 cents, or 0.53%, Tuesday to $56.79. The stock has fallen 8.31% year to date. TheStreet Ratings gives Range Resources a C grade and hold rating.
- Hewlett-Packard(HPQ) : The stock rose 13 cents, or 0.56%, Tuesday to $23.27. The stock has fallen 9.67% year to date. TheStreet Ratings gives HP a C+ grade and hold rating.
- Lexmark(LXK) : The stock increased 12 cents, or 0.38%, Tuesday to $32.10. The stock has fallen 2.93% year to date. TheStreet Ratings gives Lexmark a B+ grade with a buy rating and $37.28 price target.