Kalkine Media lists three stocks to explore after inflation data

October 14, 2022 05:28 AM PDT | By Rupam Roy
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  • The core inflation has advanced to its highest level in four decades.
  • Vector Group Ltd. (NYSE: VGR) revenue rose over 14 per cent YoY in Q2 FY22.
  • Kinetik Holdings Inc.'s (NASDAQ: KNTK) dividend yield was 8.75 per cent.

The latest data by the Labor Department showed that the US inflation remained elevated despite restrictive efforts by the Federal Reserve.

The market is struggling for direction amid the broader market's hovering challenges and volatile trading. Meanwhile, today we will discuss some stocks, that includes Omega Healthcare Investors, Inc. (NYSE: OHI), Kinetik Holdings Inc. (NASDAQ: KNTK), and Vector Group Ltd. (NYSE: VGR), during a topsy-turvy condition in the market.

The CPI soared 0.4 per cent in September, and on a YoY basis, it rose 8.2 per cent. The core CPI, which excludes food and energy prices, rose to its highest level since August 1982. The core inflation jumped 6.6 per cent YoY while increasing 0.6 per cent for the second consecutive month.

Let's discuss how the stocks mentioned above are performing amid the mounting uncertainties in the global economy.

Omega Healthcare Investors, Inc. (NYSE: OHI)

Omega Healthcare is a healthcare-focused REIT firm with a dividend yield of 9.16 per cent. The US$ 7.15 billion market cap company provided its services to skilled nursing and assisted living facility operators.

The stock of the REIT firm rose around two per cent YTD while trading flat on an annual basis. The OHI stock was up about the same percentage as YTD in the last three months after closing at US$ 30.4 on October 13. Its closing price soared 3.86 per cent from the previous session on October 13.

In Q2 FY22, Omega Healthcare's net income available to shareholders was US$ 89.46 million, and the REIT firm's revenue was US$ 244.64 million.

Kinetik Holdings Inc. (NASDAQ: KNTK)

Kinetik Holdings is a midstream energy company with a dividend yield of 8.75 per cent.

The US$ 4.77 billion market cap stock rose 15 per cent YTD and about one per cent in the last three months. On a YoY basis, it slipped around 16 per cent following its closing price of US$ 35.37 on October 13.

Kinetik Holdings Inc.'s net income was US$ 21.94 million, and its revenue was US$ 335.57 million in Q2 FY22.

Second quarter earnings highlights of Vector Group Ltd (VGR)Source: ©Kalkine Media®; © Canva via Canva.com

Vector Group Ltd. (NYSE: VGR)

Vector Group is a holding company that owns and manages discount tobacco brands, and its dividend yield is 8.67 per cent.

The US$ 1.50 billion market cap company's stock fell 17 per cent YTD and four per cent in the last three months. However, on a YoY basis, it rose nearly seven per cent following its closing price of US$ 9.43 on October 14.

Vector Group's revenue surged 14.7 per cent YoY to US$ 387.2 million in Q2 FY22, and the tobacco company's net income was US$ 0.25 per diluted share.

Bottom line:

While the inflation remained stubbornly high despite Fed's aggressive effort to tame it, and the economy is still showing resilience against the policy rates, investors are jitters about a probable recession.

On the other hand, the third quarter earnings season also kicked off this week, which would provide more insights into the impact of the macroeconomic headwinds on businesses.


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