Earnings – S&P 500 Consensus EPS Revision 2024 EPS estimates point to a typical non-recessionary trend, suggesting a positive market outlook and the potential for strong corporate profits. Image: Goldman Sachs Global Investment Research
EPS Revisions In comparison to the rest of the S&P 500, the top 10 stocks in the S&P 500 index have seen positive EPS revisions over the past 12 months. Image: Goldman Sachs Global Investment Research
S&P 500 Historical FY2 EPS Revisions vs. Consensus EPS Consensus EPS estimates for 2024 continue to track a typical non-recessionary year revision trend, suggesting a positive market outlook and the possibility of strong corporate profits. Image: BofA US Equity & Quant Strategy
EPS Revisions Positive EPS revisions typically boost stock market value and attract more investors. Conversely, negative EPS revisions tend to put downward pressure on stocks. Image: Goldman Sachs Global Investment Research
S&P 500 Earnings Estimate Revision Ratio The S&P 500 earnings estimate revision ratio has shown significant improvement, reflecting positive trends in earnings and expectations. Image: BofA US Equity & Quant Strategy
U.S. Earnings Revision The earnings revision ratio is showing an improving trend for small and large caps, while it is trending down for the Nasdaq 100. This divergence in earnings revisions could reflect changing market dynamics. Image: BofA US Equity & Quant Strategy
S&P 500 Earnings Revisions Breadth S&P 500 earnings revision breadth remains in negative territory, suggesting that there is still a cautious outlook for future earnings of S&P 500 companies. Image: Morgan Stanley Research
S&P 500 Earnings Revisions Breadth Earnings revisions breadth for both large and small caps has returned to negative territory, which means that the overall sentiment and expectations for future earnings have worsened. Image: Morgan Stanley Research
S&P 500 Earnings Revisions Breadth vs. S&P 500 YoY The decline in earnings revisions breadth and its deviation from the S&P 500 performance suggests a disparity between analyst expectations for corporate earnings and the actual trajectory of the S&P 500. Image: Morgan Stanley Research
Revision to Consensus S&P 500 3Q EPS 2Q EPS fell by just 2% over the last 3 months, compared to the usual 4%. Image: BofA US Equity & Quant Strategy