Ex-Dividend Stocks: Boeing, Wal-Mart, Pfizer

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Wednesday, meaning an investor must purchase the shares Tuesday to qualify for the next dividend payment: Boeing ( BA), BP ( BP), Consol Energy ( CNX), GlaxoSmithKline ( GSK), Pfizer ( PFE), Charles Schwab ( SCHW), Spectra Energy ( SE), J.M. Smucker ( SJM) and Wal-Mart ( WMT).

Boeing

The commercial jetliner company reported on April 25 first-quarter earnings of $923 million, or $1.22 a share, up from year-earlier earnings of $586 million, or 72 cents.

"Despite the recent move in the BA stock, it is still up only 5% year to date," Sterne Agee analysts wrote in a May 2 report. "With a slew of orders coming before and at Farnborough Air Show (July), an investor day on May 14 to highlight progress on major platforms and our view that 2012 guidance is conservative, we believe both short- and long-term investors should still buy BA at current levels."

Forward Annual Dividend Yield: 2.3%

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BP

"We reiterate our Buy rating for three reasons, (1) we expect improving underlying momentum in BP's operations; (2) BP's shares are discounting upwards of US$30bn more than the US$37bn net provisions already taken for the Macondo spill costs; and; (3) the shares trade at a 22% discount to sector on 2013 P/E," Bank of America Merrill Lynch analysts wrote in a May 2 report.

Forward Annual Dividend Yield: 4.7%


Consol Energy

The energy company reported first-quarter earnings on April 26 of $97 million, or 42 cents a share, down from year-earlier earnings $192 million, or 84 cents.

"Last Thursday, CONSOL reported 1Q12 EBITDA of $324 million, below consensus of $390 million," Dahlman Rose analysts wrote in a May 2 report. "Lower-than-expected realized prices for met coal (both low and high vol) were big factors in the miss. Management resumed and updated guidance for the year, which included lower volumes and contracted prices than previously guided for low- and high-vol met."

Forward Annual Dividend Yield 4.7%

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GlaxoSmithKline

"Following 1Q12 results that were 5% below our forecasts we have trimmed FY12 EPS and beyond by c2-3%," Bank of America Merrill Lynch analysts wrote in a May 4 report. "Changes are mostly driven by sales (emerging markets and FX) with margins unchanged and an increased Buyback (to £3.5bn from £3bn excluding HGSI offer which would see this fall to £2bn) offering some small offset. Despite cuts our forecasts remain c3-4% above consensus near-term and c17% above consensus buy 2016 mostly due to higher buybacks. Maintain buy for superior growth, pipeline upside and income."

Forward Annual Dividend Yield: 4.8%


Pfizer

The drug company reported on May 1 first-quarter earnings of $4.4 billion, or 58 cents a share, down from year-earlier earnings of $4.8 billion, or 60 cents.

"We believe that continued strong cash flow generation, focus on shareholder return through a stable and growing dividend and significant share buybacks, expense control, and potential for positive pipeline news could improve sentiment over time and lead to multiple expansion," Bank of America Merrill Lynch analysts wrote in a report Monday.

Forward Annual Dividend Yield: 3.9%

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Charles Schwab

The securities brokerage reported first-quarter earnings on April 16 of $195 million, or 15 cents a share, down from year-earlier earnings of $243 million, or 20 cents.

"Management's financial outlook was in line with our forecast--we remain a bit more conservative than management's 2012 base case (8% revenue & 6% expense growth, 30%+ P/T margin with no change in Fed Funds, ~2.00% 10-yr Treasury yields, +6.5% market appreciation) largely due to our more subdued NIM forecast (we exit 2012 at 1.55% vs. mgmt's 1.60%)," Credit Suisse analysts wrote in an April 26 report. "Expect MMF waivers to hover near $60-65 million. We heard reinforcement of management's firm-wide expense discipline and 'controlling what can be controlled'--this should not only help to protect current operating margin profile but also boost earnings leverage as the macro and market environment ultimately heals."

Forward Annual Dividend Yield: 1.8%


Spectra Energy

The energy company reported on May 4 first-quarter earnings of $331 million, or 51 cents a share, down from year-earlier earnings of $350 million, or 54 cents.

"SE reported EPS of $0.51 in line with our estimate but below consensus of $0.55 and $0.54 in 1Q11," Deutsche Bank analysts wrote in a report Sunday. "Western Canada gathering and processing business revenue improved by $30 mm from expansions in the Horn River area, and Field services improved yoy as a result of higher gas throughput. On the other hand, the warm weather lead to lower earnings at the U.S. Transmission and Distribution while a lower NGL margin drove poor results at the Empress natural gas liquids (NGL) business. Management noted the NGL margin is typically lower in the first quarter. In the quarter, SE received distributions of $89mm from DCP Midstream."

Forward Annual Dividend Yield: 3.7%

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J.M. Smucker

The food products company is scheduled to report its fourth-quarter earnings on June 7. Analysts, on average, expect earnings of 99 cents a share on $1.35 billion in revenue.

"We recognize that Smucker's lack of international presence, especially in emerging markets, may contribute to the company's slightly below average valuation multiples," Deutsche Bank analysts wrote in an April 9 report. "We believe this is a long-term concern the company will eventually need to address, but again we do not anticipate anything significant happening in the short-term or even intermediate-term future. However, with respect to calendar 2012, we believe that Smucker's US-focused business should be a positive. Unlike many of its peers, Smucker has no exposure to some of the less predictable European and Australian markets."

Forward Annual Dividend Yield: 2.5%


Wal-Mart

The discount retailer is scheduled to report first-quarter earnings on May 17. Analysts, on average, anticipate earnings of $1.04 a share on revenue of $110.44 billion.

"While we expect upside in Q1, the Mexico news will likely overshadow progress, so we are reluctant to recommend adding to positions on the recent dip," Jefferies analysts wrote in a report Monday. "Our increased comp store sales expectations for Q1 reflects a pull forward of demand on good weather, benefits from SKU addbacks in the last year and inflation."

Forward Annual Dividend Yield: 2.7%

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-- Written by Alexandra Zendrian

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