Warren Buffett’s Berkshire Hathaway (NYSE:BRK.B) is slated to report its first-quarter numbers this Saturday. When long-time fans of the legendary investor and his company gather in Omaha this week for its annual shareholder meeting, there will be a stark difference in the air as compared to the mood of years gone by. It will be Berkshire’s first annual meeting since the passing of Buffett’s lifelong business partner Charlie Munger.
The End of an Era
Munger passed away in November, only months before turning 100. Over the years, devotees gathered in thousands to hear Buffett and Munger at the company’s annual meeting. Munger, known for his sharp wits, never shied away from airing his views on everything from how envy is the worst of the seven sins to the folly of modern portfolio theory.
Over the decades, the Buffet-Munger duo transformed Berkshire from a struggling textile operation into a thriving conglomerate, with its interests spanning nearly everything, from toys and railroads to insurance and energy.
Berkshire Hathaway’s Upcoming Q1
This Saturday, analysts expect Berkshire to post an EPS of $4.47 on a revenue of $87.04 billion. In the comparable year-ago period, BRK’s EPS of $3.69 had comfortably outpaced expectations by $0.11. The company is sitting on a cash pile of over $165 billion and its legendary investments such as Apple (NASDAQ:AAPL) (which announced a $110 billion stock buyback this week), and Coca-Cola (NYSE:KO) are thriving.
Meanwhile, on Saturday, Buffett, aged 93, is expected to share the stage with his designated heir Greg Abel and Ajit Jain. However, without Munger’s witty remarks, nostalgia may permeate the atmosphere.
Is BRK.B a Buy, Sell, or a Hold?
Berkshire’s share price has gained by nearly 24% over the past year. Overall, the Street has a Moderate Buy consensus rating on the stock, alongside an average BRK.B price target of $443.
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