S&P 500 Earnings Estimate Progression

S&P 500 Earnings Estimate Progression The market doesn’t believe that the long term earnings power has changed and expects a V-shaped earnings recovery. Image: Fidelity Investments

S&P 500 Earnings and Dividend Growth (S&P 500 EPS and DPS)

S&P 500 Earnings and Dividend Growth (S&P 500 EPS and DPS) This chart suggests estimates for earnings and dividend growth this year, highlighting the financial crisis and the Great Depression. Image: Goldman Sachs Global Investment Research

U.S. Buybacks vs. Earnings

U.S. Buybacks vs. Earnings Buybacks tend to move alongside earnings and are likely to be reduced in 2020. Image: Goldman Sachs Global Investment Research

S&P 500 Index vs. Earnings per Share (EPS)

S&P 500 Index vs. Earnings per Share (EPS) Currently, the S&P 500 Index prices in a 15% decline in EPS. A decline of 33% from 2019 seems more appropriate, according to Goldman Sachs. Image: Jeroen Blokland

Earnings Sentiment

Earnings Sentiment Chart showing unusually low levels of earnings sentiment. Image: Goldman Sachs Global Investment Research

Earnings, Dividends and Valuation

Earnings, Dividends and Valuation Chart showing the deviation of the S&P 500 Index against its trend line. The U.S. stock market needs earnings growth to rise this year. Image: Fidelity Investments

S&P 500 Annual Return: Dividends, Earnings Growth and Multiple Expansion

S&P 500 Annual Return: Dividends, Earnings Growth and Multiple Expansion In 2019, the S&P 500 rose 31.5%. 26.9% came from multiple expansion, 2.6% from dividends, and 2.0% from earnings growth. Historically, S&P multiples contract or remain flat following years of big multiple expansion. Image: Richardson GMP