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When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock&#39;s price, but are they really important?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let&#39;s see what these Wall Street heavyweights think about Agnico Eagle Mines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>).
Agnico currently has an average brokerage recommendation of 1.33, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 15 brokerage firms. An ABR of 1.33 approximates between Strong Buy and Buy.
Of the 15 recommendations that derive the current ABR, 11 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 73.3% and 20% of all recommendations.
<h2>Brokerage Recommendation Trends for AEM</h2>
<img alt="Broker Rating Breakdown Chart for AEM" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/AEM_10182024.png" style="width:100%" title="" /> 
The ABR suggests buying Agnico, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every &quot;Strong Sell&quot; recommendation, brokerage firms assign five &quot;Strong Buy&quot; recommendations.
In other words, their interests aren&#39;t always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock&#39;s price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock&#39;s price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
<h2>Zacks Rank Should Not Be Confused With ABR</h2>
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers&#39; vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company&#39;s changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
<h2>Is AEM Worth Investing In?</h2>
Looking at the earnings estimate revisions for Agnico, the Zacks Consensus Estimate for the current year has increased 4.1% over the past month to $3.88.
Analysts&#39; growing optimism over the company&#39;s earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Agnico.
Therefore, the Buy-equivalent ABR for Agnico may serve as a useful guide for investors.
<a href="https://www.zacks.com/stock/news/2353028/is-it-worth-investing-in-agnico-aem-based-on-wall-street-s-bullish-views?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2353028">To read this article on Zacks.com click here.</a>

Earnings

Large Cap

News

Markets

Analyst Ratings

Trading Ideas

Is It Worth Investing in Agnico Based on Wall Street's Bullish Views?

Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) reported better-than-expected third-quarter <a href="https://www.benzinga.com/quote/MMC/earnings">earnings on Thursday</a>.
Marsh &amp; McLennan reported quarterly earnings of $1.63 per share which beat the analyst consensus estimate of $1.57 per share. The company reported quarterly sales of $5.70 billion which met the analyst consensus estimate.
John Doyle, President and CEO, said: &#8220;This was a milestone quarter for Marsh McLennan as we delivered strong results and announced the acquisition of McGriff Insurance Services. Our performance demonstrated continued momentum, with 5% underlying revenue growth, 110 basis points of margin expansion and adjusted EPS growth of 4%, or 11% excluding a one-time tax benefit a year ago. We remain on track for another great year in 2024.&#8221;
M&amp;T Bank shares fell 0.4% to trade at $198.04 on Friday.
These analysts made changes to their price targets on M&amp;T Bank following earnings announcement.
<ul>
<li>RBC Capital analyst Scott Heleniak maintained Marsh &amp; McLennan with a Sector Perform and raised the price target from $232 to $242.</li>
<li>Roth MKM analyst Harry Fong maintained Marsh &amp; McLennan with a Neutral and raised the price target from $220 to $230.</li>
</ul>
Considering buying MMC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18122114/image-170-1024x490.png" alt="" class="wp-image-603119" style="width:669px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18122114/image-170-1024x490.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18122114/image-170-300x144.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18122114/image-170-768x368.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18122114/image-170.png 1357w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Price Target

These Analysts Boost Their Forecasts On Marsh & McLennan Following Upbeat Earnings

Most investors dismiss insurance stocks as the boring niche in the finance sector without realizing that this industry could significantly outperform all others during an economy ridden by threats of prolonged higher inflation. Today&#39;s environment is ripe for insurance businesses to rally further into the year, if not continue their bullish momentum into 2025.
Markets don&#39;t need to understand the insurance ins and outs to know that when the price of the assets being insured increases, so do the insurance premiums being charged to protect that item. Not only that, insurance companies will increase prices by a set premium to avoid any further inflation shocks that may come their way, making them the perfect business to keep in mind during interest rate cut cycles such as today.
The prime target, who holds significant market share and is a household name, has become the Progressive Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>), especially after the company reported its latest set of quarterly earnings to show investors just how much growth awaits them by choosing to invest in insurance companies this cycle. Wall Street analysts agree, and markets love it just as much.
<h2>Progressive Stock Earnings Signal Strong Growth</h2>
With inflation up roughly 3% to 3.5% over the past 12 months, Progressive&#39;s new signed-up policies had a compound effect on the company&#39;s revenues. According to the latest quarterly earnings press release, Progressive reported up to 25% jumps in net premiums written.
The addition of new premiums through policies ended up raising Progressive&#39;s premiums by 23%, laying the foundation for further double-digit growth in the rest of the business. The bottom line, exciting to investors, saw enough growth to get Wall Street&#39;s attention this quarter.
A 108% expansion in net income should be enough to send any stock into a new rally. Progressive stock&#39;s price action shows the company now trading at 96% of its 52-week high as a sign of bullish interest surrounding the stock today. But it doesn&#39;t stop there.
Earnings per share (EPS) forecasts from Wall Street analysts today are set for a flattish pattern in the next 12 months, which is considerably below the recent track record Progressive has shown markets. Over the past 12 months, Progressive reported EPS growth of up to 110% to reach $3.97.
All of this growth might not be priced in, despite the stock trading near a 52-week high price, and that is something a few Wall Street analysts &ndash; alongside broader markets &ndash; have started to notice in the way they&#39;ve expressed their views and action toward Progressive stock lately.
<h2>Wall Street Weighs In on Progressive Stock&#39;s Future: Key Insights for Investors</h2>
Now, for another gauge, investors can consider moving forward in their hunt for upside in the insurance industry; here is what Wall Street has to say about Progressive stock. This is a particularly important view now that the company has reported such a strong quarterly trend.
The consensus price target for Progressive stock is $268.2 a share today, which calls for up to 5% upside from where it trades today. While this benchmark is good enough to beat inflation this year, that&#39;s not why investors want to stick around for this insurance play.
After the company released its latest quarter, filled with double&mdash;and even triple-digit growth, analysts at Bank of America reiterated their Buy target for Progressive, this time coupling their view with a much higher price target. These analysts see the stock trading as high as $331 a share, daring it to rally by as much as 30% from where it trades today, not to mention a new all-time high for the company.
Broader markets are also willing to express their bullish view for Progressive stock today, a trend investors can see in the premiums paid for the stock compared to peers in the industry. Progressive&#39;s price-to-book (P/B) ratio of 7.5x today commands a significant premium over the insurance industry&#39;s average 2.2x valuation.
More than that, on a price-to-earnings (P/E) basis, Progressive stock again commands a premium as it trades at 21.7x compared to the industry&#39;s 15.6x multiple. Markets will typically overpay for stocks they believe will grow at above-average rates, so this time, the premium is more than justified in Progressive&#39;s triple-digit EPS growth during the year.
Lastly, there are even signs of bearish capitulation, judging by the 8% decline in short interest for Progressive over the past month, an accelerating trend as overall short interest has declined during the third quarter of 2024.
The article &quot;<a href="https://www.marketbeat.com/originals/progressive-leads-the-way-as-analysts-bet-big-on-insurance-stocks/">Progressive Leads the Way as Analysts Bet Big on Insurance Stocks</a>&quot; first appeared on MarketBeat.

Insurance

Progressive Leads the Way as Analysts Bet Big on Insurance Stocks

Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) Thursday reported <a href="https://www.benzinga.com/news/24/10/41399062/why-intuitive-surgical-shares-are-trading-higher-by-around-7-here-are-20-stocks-moving-premarket">upbeat earnings for its third quarter</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
<ul>
<li>RBC Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/606ed90d9e63ea0001ef8211/shagun-singh">analyst Shagun Singh</a> reiterated an Outperform rating, while raising the price target from $525 to $555.</li>
<li>Stifel analyst Rick Wise maintained a Buy rating, while lifting the price target from $475 to $525.</li>
<li>Goldman Sachs <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/66585980a3067c00012c48c0/david-roman">analyst David Roman</a> reaffirmed a Buy rating, while raising the price target from $583 to $604.</li>
<li>Piper Sandler <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6010072ea6fe6f000120d9a0/anthony-elian">analyst Adam Maeder</a> maintained an Overweight rating, while lifting the price target from $495 to $538.</li>
<li>Truist Securities <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/613f4c11b4035700018daeca/brandon-king">analyst Richard Newitter</a> reiterated a Buy rating and price target of $570.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
RBC Capital Markets: Intuitive Surgical reported its third-quarter sales 2% higher than estimates. This was driven by robust procedure volume growth and gross system placements, Singh said in a note. The company also reported a 12% earnings beat on "revenue drop-through and strong margins," he added.
Management raised the low end of their guidance for procedure volumes by 50 basis points (bps) to 16%-17%, with the upper end assuming that bariatric procedures stabilize at the current quarter's rates and that headwinds in Korea and China do not worsen, the analyst stated. Management also lowered their projection for operating expense growth by 50 bps at the midpoint, he added.
Stifel: Intuitive Surgical achieved "one of the fastest installed base growth rates in years, at 15.1%," Wise said. The company is well-positioned to approach 10,000 robots installed by the end of 2024.
The midpoint of the new guidance range implies around 2.6 million procedures in 2024, the analyst stated. "Just seven months following the US da Vinci 5 (dv5) approval, Intuitive is already generating meaningful post-launch growth momentum," which suggests the potential for acceleration in 2025, he further wrote.
Goldman Sachs: Intuitive Surgical reported third-quarter revenues of $2.04 billion. That&#8217;s up 17% year-on-year and ahead of consensus of $2 billion. "Against strong YTD performance, 3Q results underscore sustained momentum in the top-line and, as importantly, the significant earnings leverage and upside in the model," Roman said
The company has "multiple layers of growth," including the continued rollout of dv5 until mid-2025, uptake of the new SP platform and continued adoption of the ION diagnostics system, the analyst stated. "Importantly, with Intuitive's consistent investment in the robotic surgery ecosystem and differentiated technology, we are increasingly confident in the company further extending its competitive advantage," he further wrote.
Piper Sandler: &#8220;We were also encouraged to see another strong placement quarter for DV5 (110 systems in Q3) and hear that ISRG is tracking towards a broad launch in mid-2025," Maeder wrote in a note. Management indicated that physician feedback of the system had been strong, he added.
Leverage was another "bright spot in the quarter," as the company reported adjusted operating margins of 37.0%, well ahead of "our 33.3% bogey," the analyst stated. Although estimates have been raised, there is "ample opportunity for upside to play out going forward," he further wrote.
Truist Securities: Intuitive Surgical delivered a massive beat on DV5, at 110 versus analyst estimate of 78, Newitter said. The upside delivered by DV5 in its soft launch is "particularly encouraging." It gives greater confidence in further estimate upside and growth acceleration into 2025, when the full launch in planned, he added.
Intuitive Surgical should be able to sustain its "already substantial lead" in a large and underpenetrated robotic opportunity.
ISRG Price Action: Shares of Intuitive Surgical had risen by 8.63% to $514.59 at the time of publication on Friday.
Read More: 
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<li><a href="https://www.benzinga.com/news/24/10/41404035/autoliv-posts-strong-sales-joins-united-states-cellular-netflix-intuitive-surgical-and-other-big-sto">Autoliv Joins United States Cellular, Netflix, Intuitive Surgical And Other Big Stocks Moving Higher On Friday</a></li>
</ul>
Courtesy of Intuitive Surgical

Analyst Color

Earnings Beats

Reiteration

Movers

ISRG

Intuitive Surgical Posts Q3 Earnings Beat, These Analysts Raise Forecasts On DV5 Uptake

CIBC analyst Mark Jarvi maintains TransAlta (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TA#TSX">TA</a>) with a Outperformer and raises the price target from C$16 to C$16.5.

TSX:TA

CIBC Maintains Outperformer on TransAlta, Raises Price Target to C$16.5

RBC Capital analyst Matthew McKellar upgrades Clearwater Paper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLW#NYSE">CLW</a>) from Sector Perform to Outperform and lowers the price target from $48 to $37.

Upgrades

RBC Capital Upgrades Clearwater Paper to Outperform, Lowers Price Target to $37

Roth MKM analyst Matt Koranda maintains Byrna Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYRN#NASDAQ">BYRN</a>) with a Buy and raises the price target from $17 to $20.

BYRN

Roth MKM Maintains Buy on Byrna Technologies, Raises Price Target to $20

Cantourage Group SE reported its financial results for the period from July 1 to September 30 revealing a new record quarter in the company's history. The Berlin-headquartered cannabis company posted revenue of EUR 13.2 million ($14.32 million).
Last month, the company announced that it had <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">exceeded its total annual revenue for 2023</a> (EUR 23.6 million) from Jan.1 to August 30, 2024, by posting revenue of EUR 24.9 million. Another positive EBITDA, between EUR 900,000 and EUR 1.1 million in the third quarter of 2024, suggests Cantourage can convert current developments in European medical cannabis markets into sustainable, profitable growth. Revenue of at least EUR 40 million is expected for the full year of 2024.
"It is important for investors to realize that the only areas in Germany and Europe in which truly profitable and growing business models can be established and monetized are those related to medical cannabis," <a href="https://www.cantourage.com/en/blog-posts/medizinisches-cannabis-boomt-cantourage-group-se-verzeichnet-rekordquartal-in-q3-2024">stated</a> Philip Schetter, CEO of Cantourage, according to translation. "I am not aware of any German company that is growing significantly and operating profitably with seeds, cuttings and non-commercial association structures."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41382195/german-medical-marijuana-sales-to-reach-1-09b-by-2028-new-report">German Medical Marijuana Sales To Reach $1.09B By 2028, New Report</a>
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Partial cannabis legalization <a href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect" target="_blank" rel="noreferrer noopener">took effect in Germany on April 1</a>, allowing people over 18 to legally possess up to 25 grams of dried cannabis and cultivate up to three plants at home. One of the biggest breakthroughs under the law is that medical cannabis is essentially <a href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" target="_blank" rel="noreferrer noopener">regulated like ibuprofen</a>.
Cannabis clubs became legal on July 1, 2024, and the first such marijuana social clubs <a href="https://www.benzinga.com/markets/cannabis/24/07/39690787/first-cannabis-club-in-germany-opens-lawmaker-says-it-will-stem-illicit-marker-cops-say-the-oppo" target="_blank" rel="noreferrer noopener">opened their doors on July 8</a> in Lower Saxony. However, across many other states, applications for cannabis cultivation associations face multiple setbacks. In August, Berlin granted its <a href="https://www.benzinga.com/markets/cannabis/24/08/40564933/berlin-grants-first-cannabis-cultivation-permission-lower-saxony-to-introduce-fines-with-hefty-p" target="_blank" rel="noreferrer noopener">first permission for cannabis cultivation</a>.
"The real legalization of recreational cannabis that contains THC, as is the case in North America, for example, is off the table here for the time being," added Schetter. "Nevertheless, medical cannabis is here to stay and will continue to grow. We are pleased that so many people in Germany have found their way to cannabis therapy in the past few months. This development will definitely continue in the future. Millions of cannabis users who have so far treated themselves for sleep disorders, pain or other widespread diseases – and have often resorted to unsafe products from the black market for this purpose – can now access safe preparations in pharmaceutical quality. We deliver these products through our flexible and efficient sourcing model, which we can and will continue to scale up in the months ahead. One thing is clear to us: regardless of what happens in the recreational market, the medical market will play the leading role in the years to come in ensuring that people in Germany and other European countries have access to safe, tested cannabis."
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Courtesy of Africa Studio on Shutterstock

Cannabis

Germany's Medical Marijuana Market Is Booming, Says Cannabis Producer Reporting Record Quarter

When Elizabeth and her husband filed for Chapter 13 bankruptcy, they thought they were making a smart move to manage their growing debt. But fast-forward a few months and they're having serious second thoughts. Elizabeth explained during a call with Dave Ramsey, "We <a href="https://www.benzinga.com/personal-finance/24/08/40583428/you-cant-earn-your-way-out-of-stupidity-dave-ramsey-on-why-60k-earning-teachers-often-become-mil">panicked and did some stupid things</a>," and boy, has that panic come with a price –$91,000 in debt and two car payments they can barely handle.
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It all started when Elizabeth lost her job, leaving the couple to juggle everything on one income. Trying to stay afloat, they made what she describes as "some stupid decisions" to dig deeper into debt rather than step back and assess the situation. They filed for Chapter 13 bankruptcy, which, in their words, "seemed like the only way out" at the time. However, as Elizabeth shared, they quickly realized the payment plan tied to Chapter 13 was putting a strain on their monthly income, even after she landed a better job.
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
They're working hard to turn things around – having yard sales and selling everything they can – but there's one big obstacle they can't shake: that Chapter 13 payment. It's become an unwanted guest at the table, eating up their income and standing in the way of their debt-free dreams.
"You've Got a Hornet's Nest in the Closet"
When Elizabeth <a href="https://www.benzinga.com/personal-finance/24/09/40838359/dave-ramsey-says-youre-wasting-5-000-a-year-if-you-spend-13-70-a-day-on-things-you-dont-need">called into the Ramsey Show for advice</a>, Dave Ramsey painted quite the picture for her. "Pretend like you took a baseball bat and you hit a hornet's nest and you threw the hornet's nest in a closet and closed the door," he said. If they dismiss their bankruptcy, "you're getting ready to open the door" to all the creditors they owe money to – credit cards, personal loans and those pesky car payments.
Trending: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a>
In other words, those creditors won't be pleased. They'll come after the couple "with everything they've got." And Elizabeth knew it: "Oh Lord," she responded, immediately grasping the gravity of what that meant. Filing for Chapter 13 might have put their creditors on pause, but dismissing the case would unleash the swarm and they'd need a solid plan to deal with the fallout.
"Some Stupid Decisions" and $91,000 in Debt
Let's breakdown the numbers. Elizabeth and her husband owe $30,000 on each of their two cars and have about $25,000 in credit card debt. On top of that, there's $6,000 in personal loans hanging over their heads. The irony? According to Elizabeth, these cars aren't even worth what they owe – probably closer to $26,000 or $27,000.
Now that she's back to work and they've stabilized their income, they're ready to take control and dump their debt, but the bankruptcy payments are still choking their budget. With a combined monthly income of $5,100 after taxes, health insurance and a $1,400 rent payment, those debts feel like an anchor they just can't pull up.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
The Path Forward: Opening the Door to the Hornets
Dave's advice? If they want to voluntarily dismiss the Chapter 13 bankruptcy and avoid the hornets, they need a plan. "You've got to have a plan for taking care of every one of them if you're going to open the door," he explained. For starters, it's time to sell those cars. And the good news is, Elizabeth and her husband have been saving up from their yard sales and hustling in gazelle mode. They've got enough to cover the difference and pay off the cars.
The personal loans, according to Dave, will be the toughest to deal with because those lenders are "bottom feeders" who will come after them hard and fast. On the other hand, credit card companies are "incompetent and inefficient," giving them a bit more breathing room to set up payment plans. But once the <a href="https://www.benzinga.com/personal-finance/24/03/37588475/dave-ramsey-shares-he-went-bankrupt-and-lost-everything-years-ago-while-empathizing-with-caller-">bankruptcy protection is gone</a>, the couple must stay on top of things and negotiate with creditors to keep the swarm at bay.
Trending: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Lesson Learned
Looking back, Elizabeth and her husband wish they hadn't panicked and rushed into bankruptcy. Now, with a clearer head and some solid advice from Dave, they're ready to <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">dig out of debt the old-fashioned way – </a>through hard work, sacrifice and patience. But one thing's certain: they won't forget Dave's warning. They'll be ready for whatever flies out when they open that door.
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In the current session, the stock is trading at $37.62, after a 0.48% spike. Over the past month, Werner Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WERN#NASDAQ">WERN</a>) stock increased by 0.78%, and in the past year, by 1.57%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1729268146_0.png" alt="Past Year Chart" />

<h3>Comparing Werner Enterprises P/E Against Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 63.97 in the Ground Transportation industry, Werner Enterprises Inc. has a lower P/E ratio of 37.82. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1729268146_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

WERN

A Look Into Werner Enterprises Inc's Price Over Earnings

Roth MKM analyst Sean McGowan maintains MGP Ingredients (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGPI#NASDAQ">MGPI</a>) with a Buy and lowers the price target from $92 to $88.

MGPI

Roth MKM Maintains Buy on MGP Ingredients, Lowers Price Target to $88

M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) reported better-than-expected third-quarter <a href="https://www.benzinga.com/quote/MTB/earnings">financial results on Thursday</a>.
M&amp;T Bank reported quarterly earnings of $4.08 per share which beat the analyst consensus estimate of $3.64 per share. The company reported quarterly sales of $2.332 billion which beat the analyst consensus estimate of $2.318 billion.
M&amp;T&#8217;s Chief Financial Officer said, &#8220;M&amp;T&#8217;s positive earnings momentum, strong capital position and unyielding focus on delivering for our customers and the communities we serve have positioned the franchise for a strong finish to 2024. I am proud of how our employees have exhibited our core values as we execute on our strategic priorities.&#8221;
M&amp;T Bank shares fell 0.5% to trade at $197.98 on Friday.
These analysts made changes to their price targets on M&amp;T Bank following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e2085217da4190001b418fa/gerard-cassidy">RBC Capital analyst Gerard Cassidy</a> maintained M&amp;T Bank with an Outperform and raised the price target from $190 to $208.</li>
<li>Barclays analyst Jason Goldberg maintained the stock with an Equal-Weight and raised the price target from $170 to $228.</li>
<li>Goldman Sachs analyst Ryan Nash maintained M&amp;T Bank with a Neutral and raised the price target from $190 to $216.</li>
</ul>
Considering buying MTB stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="485" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18121056/image-169-1024x485.png" alt="" class="wp-image-603093" style="width:610px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18121056/image-169-1024x485.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18121056/image-169-300x142.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18121056/image-169-768x363.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18121056/image-169.png 1367w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

M&T Bank Analysts Boost Their Forecasts After Upbeat Earnings

Roth MKM analyst Harry Fong maintains Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) with a Neutral and raises the price target from $220 to $230.

Roth MKM Maintains Neutral on Marsh & McLennan, Raises Price Target to $230

<a href="https://www.federalreserve.gov/newsevents/speech/waller20241018a.htm" title="https://www.federalreserve.gov/newsevents/speech/waller20241018a.htm">https://www.federalreserve.gov/newsevents/speech/waller20241018a.htm</a>

Federal Reserve

Fed's Waller Does Not Comment On Monetary Policy, Economic Outlook In Prepared Remarks On Decentralized Finance

Hunter Horsley, CEO of Bitwise, one of the companies attending Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19, likened blockchain&#8217;s potential to the internet's far-reaching impact. 
What Happened: In an interview on the When Shift Happens <a href="https://www.youtube.com/watch?v=L68Ask6Ygx8">podcast</a>, Horsley said he believes public blockchains have the potential to transform global interactions and organizational structures in the same way the internet reshaped society
He described blockchain as "an apolitical monetary instrument," capable of providing people worldwide with access to digital currencies and decentralized applications, without the interference of governments or corporations.
Horsley emphasized the need for the crypto industry to better communicate its value to mainstream audiences and underscored Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) role in fostering financial independence and security. He also applauded creative initiatives, such as the NFT project <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39936042/peter-thiel-founders-fund-lead-11m-investment-in-pudgy-penguins-parent-company-excited-to-">Pudgy Penguins</a>, for making the crypto world more approachable and accessible.
Horsley left Facebook to co-found Bitwise, as he believed platforms like Facebook, Snapchat and Pinterest wouldn&#8217;t be as significant in the long term. In contrast, he sees blockchain as a transformative technology that will endure for decades or even centuries since it can provide people with access to reliable digital currencies and applications, free from corporate or governmental control.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/digital-assets"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41403206/bitcoin-is-the-simplest-story-in-finance-will-climb-regardless-of-election-winner-says-ant">Bitcoin Is &#8216;The Simplest Story In Finance,&#8217; Will Climb Regardless Of Election Winner, Says Anthony Pompliano</a>
As blockchain technology integrates more deeply into everyday life, it has the potential to revolutionize areas like digital identity, data ownership and global commerce. 
Despite the challenges and reputation issues that crypto faces, such as its association with volatility and speculation, Horsley remains optimistic about its long-term potential. He sees Bitwise as essential in bridging the gap between crypto and traditional investment communities.
What&#8217;s Next: The influence of blockchains on global commerce will be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
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Image: Shutterstock

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Cryptocurrency

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Stephens &amp; Co. analyst Charles Nabhan downgrades ACI Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACIW#NASDAQ">ACIW</a>) from Overweight to Equal-Weight.

Downgrades

ACIW

Stephens & Co. Downgrades ACI Worldwide to Equal-Weight

WIIM

Nokia shares are trading higher after falling Thursday on worse-than-expected Q3 results. It was also reported the company will cut jobs in China and Europe.

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Several large insurers have reported higher-than-expected medical costs, particularly in their government-sponsored Medicaid plans, following the end of a pandemic-era policy that required insurers <a href="https://www.benzinga.com/news/earnings/24/10/41387258/3-medical-services-stocks-to-buy-to-navigate-industry-challenges">to keep members enrolled. </a>
The Details: The end of the COVID-19 public health emergency triggered significant changes to Medicaid coverage, including the end of the continuous enrollment provision, which prevented states from disenrolling members during the pandemic. Beginning on April 1, 2023, states began the process of redetermining eligibility for all Medicaid enrollees, which<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41388721/why-is-elevance-health-stock-trading-lower-on-thursday"> created a disparity</a> between payments from states and rising trends in medical expenses for insurers. 
Analysts at William Blair <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41388721/why-is-elevance-health-stock-trading-lower-on-thursday">recently noted</a> that large managed care organizations (MCOs) seem to be facing pressure regarding Medicaid utilization. At the same time, outdated data often determine the premiums they receive from states.
Read Next: <a href="https://www.benzinga.com/news/24/10/41385546/ftc-click-to-cancel-rule-makes-it-easy-to-end-subscriptions-what-it-means-for-netflix-planet-fitness">FTC &#8216;Click-To-Cancel&#8217; Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More</a>
Effects on Insurers: Elevance Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) lowered its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41388721/why-is-elevance-health-stock-trading-lower-on-thursday">annual profit forecast </a>Thursday due to persistently high medical costs tied to its Medicaid plans, which account for 20% of the company's total medical membership. 
&#8220;The issues impacting the Medicaid business are time-bound,&#8221; Elevance CEO Gail Boudreaux said on the company's earnings call.&nbsp;
CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) replaced its CEO on Friday and cut its <a href="https://www.benzinga.com/news/earnings/24/10/41399396/pharmacy-retailer-cvs-health-backs-away-from-annual-forecast-names-new-ceo">third-quarter outlook</a> to earnings of between $1.05 and $1.10, compared to the consensus estimate of $1.70. The company cited "elevated medical cost pressures in the Health Care Benefits segment" as a cause of the revision.&nbsp;&nbsp;
UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) reported its <a href="https://www.benzinga.com/news/earnings/24/10/41328272/unitedhealth-q3-earnings-revenue-and-eps-beat-revises-annual-profit-guidance-as-change-healthcare-c">third-quarter results </a>on Tuesday and also lowered its annual profit forecast as challenges across its government-supported health insurance businesses continue.&nbsp;
UnitedHealth's president and CFO John Rex pointed to "the continued timing mismatch between the current health status of Medicaid members and state rate updates" as an ongoing pressure point for the company.&nbsp;
"As a result of the lagging care activity data, as well as the annual rate cycle timing, updates remain well short of current care activity, a factor that for us was more pronounced through the period than anticipated," Rex said on the company's post-earnings conference call.&nbsp;
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Health Care

General

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

Elevance, CVS, UnitedHealth Struggle With Rising Medical Costs After COVID-19 Medicaid Policy Ends

CIBC analyst Jamie Kubik maintains Precision Drilling (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PD#TSX">PD</a>) with a Outperformer and lowers the price target from C$140 to C$125.

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In this brief market review, we will take a look at the various asset classes, sectors, equity categories, ETFs, and stocks that moved the market higher, as well as the market segments that defied the trend by moving lower.

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