Jim Cramer Discusses Favorite Financial Stocks and Insights
Jim Cramer's Stock Preferences
On a recent episode of CNBC's "Mad Money Lightning Round," financial expert Jim Cramer expressed his concerns about Brighthouse Financial, Inc. and emphasized his preference for Chubb Limited instead. Cramer specifically noted the struggles of Brighthouse and identified it as a company that may not perform well moving forward.
Analyst Opinions
Backing up Cramer's sentiments, Morgan Stanley analyst Nigel Dally confirmed a maintained Underweight rating on Brighthouse Financial, suggesting a price target adjustment from $45 to $42. This indicates a cautious approach toward the company amidst market fluctuations.
Grindr: A Promising Choice
Cramer shared his excitement about Grindr Inc., highlighting its potential for profitability next year. He noted, "I like affinity social networks," believing that Grindr is an attractive investment opportunity at its current standing, despite past financial losses.
Supporting Analyst Ratings
Further supporting Cramer's enthusiasm for Grindr, JMP Securities analyst Andrew Boone upgraded their rating for Grindr, projecting a price target increase from $24 to $27 on June 24. The outlook suggests a potential rise in value for those considering investing.
Hecla Mining Company Overview
When discussing Hecla Mining Company, Cramer was less optimistic, labeling it as lacking high-quality mines. With its upcoming release of the second-quarter operational and financial results, scheduled for the close of a specific day in early August, analysts forecast earnings of 5 cents per share, an increase from 2 cents per share from the previous year.
Investors Keeping an Eye on Earnings
Hecla Mining is expected to generate around $257.68 million in revenue for the quarter, compared to $245.66 million from the same time last year. These figures will be vital in determining investor sentiment around the company's performance going forward.
Universal Technical Institute's Future Prospects
In his analysis of Universal Technical Institute, Inc., Cramer noted the relevance of technical education moving forward. He stated that the education sector could present lucrative opportunities as the demand for skilled workers continues to grow.
Upcoming Financial Discussions
Universal Technical Institute plans to hold a conference call to shed light on its financial and operational results for the fiscal third quarter on a chosen date in early August. This could provide insights for investors eager to understand their trajectory.
Recent Price Movements
Price actions on Monday reflected market reactions:
- Brighthouse Financial shares dipped by 3%, settling at $48.69.
- Hecla Mining shares saw a decrease of 2.6% to close at $5.98.
- Universal Technical Institute shares dropped by 1.3% to wrap up at $31.14.
- Grindr shares fell by 2.4%, closing at $17.85.
Navigating Market Choices
With fluctuating prices and varying analyst opinions, investors will need to navigate carefully through their options. While Cramer endorses Chubb and keeps a watchful eye on Grindr, the future performance of Brighthouse Financial and Hecla Mining remains uncertain. Observations in the market will dictate strategies for stakeholders.
Frequently Asked Questions
What stocks did Jim Cramer prefer over Brighthouse Financial?
Jim Cramer expressed a preference for Chubb Limited, suggesting that Brighthouse Financial may not perform well in the future.
Which company has a positive outlook according to analysts?
Grindr Inc. received a Market Outperform rating from JMP Securities, with an increased price target reflecting a positive outlook.
When will Hecla Mining report its earnings?
Hecla Mining plans to release its second-quarter operational and financial results on a date in early August, with analysts anticipating earnings improvements.
What are the recent movements in Brighthouse Financial's stock price?
Brighthouse Financial shares fell by 3%, closing at $48.69, indicating market challenges for the company.
Why does Cramer believe in technical schools?
Cramer believes that technical education represents the future, driven by the increasing need for skilled labor in various industries.
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