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Senior Earnings Analyst
John’s weekly research report, Earnings Insight provides analysis and commentary on trends in corporate earnings data for the S&P 500, including revisions to estimates, year-over-year growth, performance relative to expectations, and valuations. He is a widely used source for the media and has appeared on CNBC, Fox Business News, and the Business News Network. In addition, he has been cited by numerous print and online publications such as The Wall Street Journal, Financial Times, The New York Times, MarketWatch, and Yahoo! Finance.

Here are some of the key metrics from the week of December 26.
  • Earnings Growth: For Q4 2016, the estimated earnings growth rate for the S&P 500 is 3.2%. If the index reports earnings growth for Q4, it will mark the first time the index has seen year-over-year growth in earnings for two consecutive quarters since Q4 2014 and Q1 2015.
  • Earnings Revisions: On September 30, the estimated earnings growth rate for Q4 2016 was 5.2%. Eight of the 11 sectors have lower growth rates today (compared to September 30) due to downward revisions to earnings estimates, led by the Materials sector.
  • Earnings Guidance: For Q4 2016, 77 S&P 500 companies have issued negative EPS guidance and 34 S&P 500 companies have issued positive EPS guidance.
  • Valuation: The forward 12-month P/E ratio for the S&P 500 is 16.9. This P/E ratio is based on Thursday’s closing price (2249.26) and forward 12-month EPS estimate ($132.79).
  • Earnings Scorecard: As of today (with 4% of the companies in the S&P 500 reporting actual results for Q4 2016), 68% of S&P 500 companies have beat the mean EPS estimate and 37% of S&P 500 companies have beat the mean sales estimate.

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