Tuesday, October 10, 2017

Bullish on Earnings Season

Quarterly earnings season kicks off this week, and according to FactSet, it should be a strong one. Earnings for S&P 500 companies are seen coming in at $32.34 a share in the third quarter. That represents growth of 2.8 percent from a year ago. Sales are seen rising 4.8 percent compared with the third quarter of 2016.

J.P. Morgan Chase & Co. is even more bullish on the coming season. Their recent reports indicate that the overall earnings per share growth rate could be more than three times that of current consensus expectations.

But these forecasts have dimmed in recent months. Profit expectations have dropped 4.2 percent since the end of June, when earnings were seen coming in at $33.76 a share, according to FactSet.

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