BOSTON (TheStreet) -- TheStreet.com's quantitative equity model, which evaluates stocks' fundamentals and performance, shifted its position on three key companies yesterday.
The model downgraded real estate investment trust
National Retail Properties
: National Retail Properties swung to a fourth-quarter loss of $21 million, or 21 cents a share, from a profit of $27 million, or 33 cents, a year earlier. Revenue increased 14% to $66 million. The company's operating margin tumbled from 63% to 14%. National Retail Properties holds $15 million of cash and $987 million of debt. Its 0.6 debt-to-equity ratio is less than the industry average.
: National Retail Properties rose 21% during the past year, more than the
Dow Jones Industrial Average
, but less than the
S&P 500 Index
. Its shares are cheap relative to those of REIT peers based on trailing earnings, projected earnings and book value. National Retail Properties has a PEG ratio, a measure of value relative to growth, of 0.5, a discount to the industry average of 1.2.
The model upgraded diversified energy company
National Fuel Gas
: National Fuel Gas swung to a fiscal first-quarter profit of $65 million, or 78 cents a share, from a loss of $43 million, or 54 cents, a year earlier. Revenue decreased 25% to $457 million. The company's operating margin extended from 19% to 28%. National Fuel Gas holds $406 million of cash and $1.2 billion of debt. Its 0.8 debt-to-equity ratio is less than the industry average.
: National Fuel Gas advanced 39% during the past year, outpacing major U.S. indices. The shares are inexpensive relative to those of gas utility peers based on trailing earnings and book value, but are costly when comparing sales and cash flow. National Fuel Gas has a PEG ratio of 0.2, indicating a substantial discount to the industry average of 2.
The model upgraded Japan-based electronics company
( PC) to "hold."
: Panasonic swung to a fiscal third-quarter profit of $367 million, or 18 cents a share, from a loss of $493 million, or 23 cents, a year earlier. Revenue dropped 32% to $19 billion. Panasonic's operating margin widened from 2.4% to 5.7%. The company holds $13 billion of cash and $16 billion of debt. Its 0.6 debt-to-equity ratio indicates conservative leverage.
: Panasonic appreciated 17% during the past year, trailing major U.S. indices. The shares are cheap relative to those of electronics peers based on book value, sales and cash flow. Panasonic suffered losses in four out of the past five quarters as consumer spending languished. The model awards Panasonic a financial-strength score of 8.9 out of 10, but a growth score of just 2.5.
-- Reported by Jake Lynch in Boston.