Search Results for: EPS revision

S&P 500 Price Return vs. 2021 EPS Revisions This chart highlights the positive correlation between price return and 2021 earnings revisions. Image: Goldman Sachs Global Investment Research

STOXX Europe 600 EPS Revisions This year, SXXP EPS revisions have not been worse than a typical year. Image: Goldman Sachs Global Investment Research

U.S. ISM Manufacturing Index and Cyclicals EPS Revision This chart shows the correlation between the ISM Manufacturing Index and cyclicals EPS revision, suggesting that 4Q19 will see a reset, with capital goods pricing in an actual earnings recession. Image: Morgan Stanley Research

S&P 500 1-Year Volatility vs. EPS Revisions This chart from SG shows a good correlation between earning revisions and the S&P 500 1-year volatility. You may also like “S&P 500 1-Month Volatility History Since 1928 and VIX Since 1990.” Image: Societe Generale Cross Asset 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

S&P 500 Earnings Revisions Breadth and S&P 500 NTM EPS How will earnings growth drive the U.S. stock market? Image: Morgan Stanley Research

Revision to Consensus S&P 500 EPS Have consensus earnings estimates for 2021 the potential to rise again? Image: BofA US Equity & Quant Strategy

Cumulative YTD Change in Consensus 2027 EPS Estimates AI infrastructure and energy are carrying the bulk of S&P 500 EPS revisions, while the rest of the market is barely moving. Strip those sectors out and 2027 estimates are flat year to date. Image: Goldman Sachs Global Investment Research

U.S. ISM Manufacturing Index vs. S&P 500 EPS Annual % Change With the ISM Manufacturing Index and S&P 500 earnings growth moving hand in hand, either ISM climbs into the high 50s as the cycle heats up, or earnings estimates reset lower. At this point in the cycle, the revisions tend to come first. Image:…

Typical Path of S&P 500 Bottom-Up Consensus EPS Estimate Analysts usually trim EPS estimates in the first four months of the year. Not this time. In 2026, revisions are heading higher, fueled by AI optimism and backed by confident management guidance. Image: Goldman Sachs Global Investment Research

Change in 12-Month Forward EPS for S&P Tech Sector Firms Nearly all of the year-to-date increase in S&P tech forward earnings traces back to SanDisk and Micron. Excluding those names, revisions look subdued and the growth narrative starts to look less convincing. Image: Bloomberg