Here are three stocks with buy rank and strong income characteristics for investors to consider today, September 30: Cool Company Ltd. (CLCO) : This LNG transportation and logistics company. has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% the last 60 days. This Zacks Rank #1 company has a dividend yield of 14.5%, compared with the industry average of 3.4%. CTO Realty Growth, Inc. (CTO) : This real estate investment trust has witnessed the Zacks Consensus Estimate for ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, September 20th: Cool Company Ltd. (CLCO) : This company which is an owner, operator and manager of fuel-efficient liquefied natural gas carriers, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.1% over the last 60 days. This Zacks Rank #1 (Strong Buy) company has a dividend yield of 14.5%, compared with the industry average of 3.4%. Qifu Technology, Inc. (QFIN) : This ...

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Qifu Technology, Inc. (QFIN) : This Credit-Tech platform principally in China which provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services, has seen the Zacks Consensus Estimate for its current year earnings increasing 20.5% over the last 60 days. Co ...

Core Insights - Johnson Controls International (JCI) is positioned to benefit from the growth of data centers and the AI-driven market, providing essential infrastructure for this sector [4][17] - The company has undergone a strategic restructuring, divesting its residential and light commercial HVAC business for $8.1 billion, allowing it to focus on higher-growth commercial and industrial segments [11][12][13] Financial Performance - JCI's stock price is currently $72.87, with a P/E ratio of 29.50 and a dividend yield of 2.03% [3] - The company reported a 10% increase in its Building Solutions backlog for North America, reaching $9 billion at the end of Q3 [9] - JCI's annual dividend is $1.48, with a payout ratio of 59.92%, reflecting its commitment to shareholder returns [15][16] Market Position and Growth Opportunities - Analysts have upgraded JCI's stock, with Bank of America raising the price target to $80 and Morgan Stanley initiating coverage with a target of $85, citing strong end-market exposure [5][6] - JCI expects to generate 14% of its revenue from data centers this year, indicating a significant growth opportunity in this sector [6] - The company is also focusing on retrofitting buildings to enhance efficiency and reduce carbon footprints, supported by its OpenBlue digital platform [7][10] Strategic Focus - The recent restructuring is expected to improve profitability and efficiency, allowing JCI to channel resources toward core businesses better positioned for growth [12][14] - The company aims to capitalize on the increasing demand for data center solutions and its role in the transition to net zero [14][17]

Core Viewpoint - Cool Company Ltd. (CLCO) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, reflecting the company's changing earnings picture [1][2]. - A strong correlation exists between earnings estimate revisions and near-term stock price movements, driven by institutional investors who adjust their valuations based on these estimates [4][6]. Company Performance Indicators - Cool Company Ltd. is expected to earn $2.03 per share for the fiscal year ending December 2024, representing a year-over-year decline of 37.5% [8]. - Over the past three months, the Zacks Consensus Estimate for Cool Company Ltd. has increased by 9.1%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Cool Company Ltd. to a Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

T II E II I alvarez Cool Company (NYSE:CLCO) is currently offering one of the most attractive dividend yields among shipping equities at about 13.7%. The LNG transportation giant, with 11 vessels on its roster, posted its Q2 results on Thursday. The company showed strong numbers and kept the dividend steady, which was a big relief for investors. The stock has risen since, especially after some recent drama around a potential dividend cut. Here's what happened: on Wednesday, August 28th (the day before earni ...

[Management's Discussion and Analysis of Financial Condition and Results of Operations](index=5&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) [Overview and Recent Developments](index=5&type=section&id=Overview%20and%20Recent%20Developments) CoolCo, an LNGC pure-play, secured a 14-year newbuild charter, upsized a $200 million loan, and maintained $0.41 quarterly dividends - The company's strategy focuses on being an LNGC pure play with a mix of short and long-term charters, funded growth from **two newbuild vessels**, and potential market consolidation[12](index=12&type=chunk) - Secured a **14-year charter** with GAIL (India) Limited for one of its two newbuild MEGA LNG carriers, commencing early 2025[13](index=13&type=chunk) - Upsized an existing term loan facility by **$200 million** to prepare for the maturity of two sale and leaseback facilities in Q1 2025[14](index=14&type=chunk) - Declared quarterly cash dividends of **$0.41 per common share** for Q4 2023 and Q1 2024[15](index=15&type=chunk) [Operating Results](index=6&type=section&id=Operating%20Results) H1 2024 total operating revenues decreased **9%** to **$171.5 million**, with average daily TCE rate down **6%** Operating Results Comparison (Six Months Ended June 30) | Metric (in thousands of $) | 2024 | 2023 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Total operating revenues | 171,497 | 188,965 | (17,468) | (9)% | | Vessel operating expenses | (34,631) | (37,423) | 2,792 | (7)% | | Administrative expenses | (11,323) | (12,865) | 1,542 | (12)% | | Other non-operating income | — | 42,549 | (42,549) | (100)% | | Gains on derivative instruments | 15,366 | 10,704 | 4,662 | 44% | | Average daily TCE rate ($) | 77,800 | 82,500 | (4,700) | (6)% | - Time and voyage charter revenues decreased by **$18.1 million (10%)** due to vessel idling and dry dock maintenance[18](index=18&type=chunk) - Vessel operating expenses decreased by **$2.8 million (7%)**, primarily due to the sale of the Golar Seal vessel in March 2023[20](index=20&type=chunk) - H1 2024 lacked 'Other non-operating income', contrasting with a **$42.5 million gain** from the Golar Seal vessel sale in H1 2023[21](index=21&type=chunk) [Liquidity and Capital Resources](index=9&type=section&id=Liquidity%20and%20Capital%20Resources) H1 2024 cash decreased to **$86.5 million**, operating cash flow fell **31%**, and total contractual obligations reached **$1.19 billion** Cash Flow Summary (Six Months Ended June 30) | Cash Flow Activity (in thousands of $) | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | 81,369 | 117,581 | (36,212) | | Net cash (used in) / provided by investing activities | (25,377) | 182,996 | (208,373) | | Net cash used in financing activities | (106,829) | (120,207) | 13,378 | | **Net (decrease) / increase in cash** | **(50,837)** | **180,370** | **(231,207)** | | **Cash at end of period** | **86,501** | **313,447** | **(226,946)** | - Cash from operations decreased by **$36.2 million**, primarily due to higher dry dock expenditure and working capital timing[27](index=27&type=chunk) - Investing activities used **$25.4 million** for newbuilds and upgrades, contrasting with **$183.0 million** provided by the Golar Seal sale in the prior year[28](index=28&type=chunk) - Financing activities used **$106.8 million**, including **$58.0 million** in debt repayments and **$44.0 million** in dividend payments[29](index=29&type=chunk) Contractual Obligations as of June 30, 2024 | Obligation Type (in millions of $) | Total | Remainder of 2024 | 2025-2026 | 2027-2028 | Thereafter | | :--- | :--- | :--- | :--- | :--- | :--- | | Debt (CoolCo & VIE) | 1,009.4 | 139.1 | 153.7 | 448.4 | 268.2 | | Interest commitments | 175.6 | 29.0 | 97.4 | 42.4 | 6.8 | | Operating lease obligations | 3.2 | 0.5 | 1.2 | 1.0 | 0.5 | | **Total** | **1,188.2** | **168.6** | **252.3** | **491.8** | **275.5** | [Quantitative and Qualitative Disclosures About Market Risk](index=10&type=section&id=Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) [Key Market and Operational Risks](index=10&type=section&id=Key%20Market%20and%20Operational%20Risks) The company manages interest rate risk with swaps covering **70%** of debt, faces foreign currency exposure, and navigates significant operational risks - Interest rate risk on floating-rate debt is managed with swaps, hedging **70%** of exposure on major facilities at an average fixed rate of **3.42%** as of June 30, 2024[35](index=35&type=chunk) - Foreign currency risk from NOK and EUR expenses means a hypothetical **10% USD depreciation** would increase H1 2024 expenses by **$0.5 million (NOK)** and **$1.1 million (EUR)**[36](index=36&type=chunk)[37](index=37&type=chunk) - Operational risks encompass marine disasters, mechanical failures, piracy, and political events, potentially causing revenue loss, property damage, and increased insurance costs[40](index=40&type=chunk) - Credit risk is concentrated with major reputable banks, which the company considers a remote risk[39](index=39&type=chunk) [Unaudited Condensed Consolidated Financial Statements](index=12&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) [Financial Performance (Statements of Operations & Comprehensive Income)](index=13&type=section&id=Financial%20Performance) H1 2024 net income decreased to **$63.3 million** from **$114.8 million**, with basic and diluted EPS falling to **$1.17** Consolidated Statements of Operations Highlights (Six Months Ended June 30) | Metric (in thousands of $) | 2024 | 2023 | | :--- | :--- | :--- | | Total operating revenues | 171,497 | 188,965 | | Operating income | 85,458 | 97,506 | | Other non-operating income | — | 42,549 | | **Net income** | **63,290** | **114,778** | | Net income attributable to Owners | 62,641 | 113,835 | | **Basic and diluted EPS ($)** | **$1.17** | **$2.12** | [Financial Position (Balance Sheets)](index=15&type=section&id=Financial%20Position) Total assets decreased to **$2.02 billion**, liabilities fell to **$1.19 billion**, and equity rose to **$826.9 million** as of June 30, 2024 Consolidated Balance Sheet Highlights | Metric (in thousands of $) | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | 84,362 | 133,496 | | Vessels and equipment, net | 1,685,936 | 1,700,063 | | Newbuildings | 206,549 | 181,904 | | **Total assets** | **2,017,695** | **2,056,943** | | Current portion of long-term debt | 175,156 | 194,413 | | Long-term debt | 827,241 | 866,671 | | **Total liabilities** | **1,190,750** | **1,250,363** | | **Total equity** | **826,945** | **806,580** | [Cash Flows (Statements of Cash Flows)](index=17&type=section&id=Cash%20Flows) H1 2024 saw a net cash decrease of **$50.8 million**, with operating cash flow down **31%** and **$106.8 million** used in financing activities Consolidated Statements of Cash Flows Highlights (Six Months Ended June 30) | Metric (in thousands of $) | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | 81,369 | 117,581 | | Net cash (used in) / provided by investing activities | (25,377) | 182,996 | | Net cash used in financing activities | (106,829) | (120,207) | | **Net (decrease) / increase in cash** | **(50,837)** | **180,370** | | **Cash at end of period** | **86,501** | **313,447** | [Notes to the Financial Statements](index=21&type=section&id=Notes%20to%20the%20Financial%20Statements) Notes detail company structure, **two newbuild vessel** commitments, over **$900 million** in outstanding debt, and derivative use for interest rate risk [Newbuildings (Note 12)](index=32&type=section&id=Newbuildings) The company is acquiring **two newbuild LNG carriers** for **$235 million each**, with **$206.5 million** capitalized and **$269.6 million** remaining committed - Exercised option to acquire **two newbuild LNG carriers** for approximately **$235 million each**, scheduled for late 2024 delivery[103](index=103&type=chunk) Newbuildings Expenditure as of June 30, 2024 | Component (in thousands of $) | Amount | | :--- | :--- | | Shipyard Installments | 202,984 | | Onsite Supervision Costs | 900 | | Interest cost capitalized | 1,754 | | Other Costs | 911 | | **Total Newbuildings** | **206,549** | - As of June 30, 2024, remaining commitments for newbuild vessels are approximately **$269.6 million**[103](index=103&type=chunk) [Debt (Note 15)](index=33&type=section&id=Debt) Total debt reached **$1.0 billion** as of June 30, 2024, primarily from two major facilities, with a **$200 million** upsize for refinancing Debt Summary as of June 30, 2024 | Debt Component (in thousands of $) | Amount | | :--- | :--- | | Current portion of long-term debt | 175,156 | | Long-term debt | 827,241 | | **Total Debt (net of deferred charges)** | **1,002,397** | - The **$520 million** term loan facility was upsized by **$200 million** in March 2024 to refinance Q1 2025 sale & leaseback maturities[112](index=112&type=chunk) - The company was in compliance with all financial covenants under its debt agreements as of June 30, 2024[116](index=116&type=chunk) [Subsequent Events (Note 22)](index=38&type=section&id=Subsequent%20Events) On August 29, 2024, the company declared a cash dividend of **$0.41 per ordinary share** for Q2 2024 - On August 29, 2024, a cash distribution of **$0.41 per share** was declared for the three months ended June 30, 2024[135](index=135&type=chunk)

Financial Data and Key Metrics Changes - Average Time Charter Equivalent (TCE) rate increased to $78,400 per day from $77,200 in the previous quarter, expected to rise further in Q3 due to full chartering of the existing fleet [3][18] - Total operating revenues for Q2 2024 were reported at $83.4 million, aligning with guidance and slightly above consensus estimates [18] - Adjusted EBITDA for Q2 2024 was $55.7 million, down from $58.5 million in Q1 2024, primarily due to lower TCE revenues [19][22] - Net income decreased to $26.1 million in Q2 from $36.6 million in Q1, largely due to reduced unrealized gains on interest rate swaps [22] Business Line Data and Key Metrics Changes - TCE revenues for the quarter were $76.4 million, a slight decrease from $78.7 million in the previous quarter, impacted by one vessel in dry dock and lower floating rates [18][19] - The Kool Blizzard vessel transitioned to a new 12-month charter, expected to generate approximately $10,000 more per day compared to its previous earnings [6] Market Data and Key Metrics Changes - The LNG market has been quiet during the summer, but expectations for increased activity in the winter season due to new supply and tender activity are anticipated [4][8] - The Asia Pacific region shows strong appetite for LNG, which is beneficial for shipping due to increased shipping distances [10] Company Strategy and Development Direction - The company maintains a strong backlog of $1.8 billion, equivalent to approximately 62 years of backlog, with an average TCE rate of $79,000 per day per vessel [23] - The company is focused on securing long-term charters while balancing the optionality of higher rates in the future [32] Management's Comments on Operating Environment and Future Outlook - Management noted that the LNG market sentiment is split between long-term and short-term charterers, with optimism for securing long-term deals [28] - The company expects a moderate increase in TCE rates and charter revenues in Q3 compared to Q2, despite ongoing dry dock activities [20][21] Other Important Information - The company has maintained a dividend of $0.41 per share, with a payout ratio of approximately 70% of net income [22][24] - Cash and cash equivalents totaled approximately $84 million, down from $106 million in the previous quarter, primarily due to debt amortization [24] Q&A Session Summary Question: Current market sentiment for the uncommitted newbuild - Management indicated a split market with some looking for long-term contracts while others are hesitant due to short-term market conditions [27][28] Question: Impact of upgraded TFDEs on vessel desirability - Management highlighted potential for increased day rates and attractiveness compared to older vessels, with expectations of sharing upside with charterers [29][30] Question: Outlook for the spot market - Management suggested two favorable scenarios for shipping: a cold winter increasing demand or volumes heading to emerging markets [35][36] Question: Long-term charter rates for Kool Tiger - Management expressed confidence in achieving competitive long-term rates similar to previous deals, with expectations of around $95,000 for shorter-term charters [38][39] Question: Impact of the Suez Canal on shipping routes - Management noted that while the Suez Canal's closure could affect arbitrage opportunities, it would not significantly impact overall shipping demand [37]

Financial Performance - The average TCE (Time Charter Equivalent) was $78,400 per day in Q2 2024[3, 5] - CoolCo's Q2 2024 total operating revenues reached $834 million[3, 5] - Adjusted EBITDA for Q2 2024 was $557 million[3, 6] - Net income for Q2 2024 was $261 million, including a $41 million mark-to-market gain on interest rate swaps[3] Backlog and Charters - The company's backlog is approximately $18 billion[3] - CoolCo secured a 14+2 year charter with GAIL (India) Limited for a newbuild, starting in early 2025[5] - A one-year time charter agreement was secured for a TFDE vessel starting in Q3 2024[5] Dividends and Debt - A dividend of $041 per share was declared for Q2 2024[3, 5] - The company's net debt is $1024 billion, with an average interest rate of approximately 58%[3] - The hedge ratio is approximately 76%[3, 33] Market Outlook - LNG supply is expected to grow significantly from 2023 to 2030, with a 75% increase[11]

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