For Immediate Release
Chicago, IL – March 9, 2012 – Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include NRG Energy, Inc. (
NRG), SunPower Corporation ( SPWR), BJ's
Restaurants Inc. ( BJRI), Brinker International
Inc. ( EAT) and Texas Roadhouse Inc. (
TXRH).
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Here are highlights from Thursday’s Analyst
Blog:
NRG Set to Ramp Solar Portfolio
NRG Energy, Inc.’s ( NRG) subsidiary, NRG Solar
LLC is on its way to expand its solar power generation portfolio.
The company plans to develop projects, with a capacity of over 11
megawatt (MW), in collaboration with PsomasFMG LLC. The deal
comprises a 7.3 MW project at William S. Hart School District in
Santa Clarita, California and another project with a capacity of
3.3 MW in the County of Orange, California.
NRG will be in charge of the financial resources and raw
materials, primarily power inverters and solar panels. On the other
hand, PsomasFMG will provide support in terms of the design and
construction of the project.
After completion of this project, the companies will sell
solar-generated electricity to the facility owners who sign the
power purchase agreements. The revenue-sharing will be done on the
basis of individual contributions for each project.
In November 2011, NRG and SunPower Corporation
( SPWR) began the construction of a 250-megawatt project at
California Valley Solar Ranch. During the 2-year construction
period, the project is expected to create 350 jobs and inject $315
million in the local economy.
During NRG’s earnings conference call, the company announced its
plans to allocate approximately $553 million for environment
capital expenditure for the 2012–2016 span. The investment would be
made in compliance with the government’s stringent environmental
rules and regulations.
Earlier, NRG acquired stakes in three Utility Scale Solar
facilities namely California Valley Solar Ranch, Agua Caliente and
Ivanpah for approximately $165 million as part of its efforts to
capitalize on the future growth opportunities in renewables.
As of December 31, 2011, NRG reported total electricity
generation of 25,135 MW, out of which 95 MW was contributed by
Utility Scale Solar and Distributed Solar segments. NRG Energy is a
pioneer in developing cleaner and smarter energy choices for its
customers.
The company is expanding its solar energy portfolio and
continues to maintain its dominance in the sustainable energy
space. The company has a large-scale photovoltaic and solar thermal
projects pipeline, with an approximate capacity of 2,000 MW, spread
across different locations in Southwestern United States and the
Western Hemisphere. The company expects the output to go up to 860
MW next year.
We expect that NRG is well positioned with a consistent cash
balance and is using the same to increase shareholder value through
share repurchases and expansion of its solar power generation
portfolio. The company entered into several agreements to acquire
solar power generation assets and distribution companies and
develop solar power plants with its partners.
NRG Energy currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating.
BJ’s Restaurants Downgraded
We have recently downgraded our long-term rating on the shares
of BJ's Restaurants Inc. ( BJRI) to Neutral from
Outperform due to the higher cost structure for 2012 as well as
tougher sales comparison in the upcoming first quarter.
Boasting a unique position in the commoditized hyper-competitive
bar and grill segment, along with a viable business strategy, BJ’s
Restaurants offer investors one of the strongest growth stories in
the U.S. restaurant industry.
The company’s earnings have been able to beat the consensus over
the trailing four quarters by an average surprise of 15.08%. While
the new menu and beverage ready for rollout this spring and summer
will likely add some flavors to the upcoming quarters’ earnings of
BJ’s, there is set of factors which could put its growth on hold in
the near term.
BJ’s always experiences higher labor costs in the first quarter
of each year due to the resetting of state unemployment taxes and
FICA limits. Management generally incurs increased payroll taxes in
the first and second quarter of each year. BJ’s expects to see some
higher state payroll taxes as many states have increased their
payroll taxes to help fund their unemployment deficit.
There will also be pressure on medical benefits in 2012, which
currently account for approximately 1% of sales. Additionally, the
company continues to witness higher hourly labor, primarily in the
kitchen, due to the complexity of new menu offerings.
Some increases in consulting costs related to certain ongoing
initiatives and higher training as well as recruiting costs related
to expected openings in 2012 are also likely. Total commodity
basket is expected to be up around 4% in 2012. Hence, a higher cost
structure, in turn, will lessen the magnitude of margin
rebound.
Operation for the first quarter of fiscal 2012 began on January
4, 2012 compared to December 29 last year. Hence, the first quarter
of 2012 is seeing tougher comparison with the absence of Christmas
and New Year. This will hurt first quarter comparable restaurant
sales as well as the change in average weekly sales.
Following the earnings, there was a negative sentiment
prevailing among the analysts regarding the upcoming quarters with
majority of estimates moving southward.
BJ's Restaurants, which competes with the likes of
Brinker International Inc. ( EAT) and
Texas Roadhouse Inc. ( TXRH), currently retains
the Zacks #3 Rank that translates into a short-term Hold
rating.
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BJ'S RESTAURANT (BJRI): Free Stock Analysis Report
BRINKER INTL (EAT): Free Stock Analysis Report
NRG ENERGY INC (NRG): Free Stock Analysis Report
SUNPOWER CORP-A (SPWR): Free Stock Analysis Report
TEXAS ROADHOUSE (TXRH): Free Stock Analysis Report
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