10 February 2022 Earnings estimates in the US continue to rise overall, helped by the continued solid economic backdrop, but the pace has eased from last year’s extraordinarily positive levels and divergences among sectors are more visible now. Part of…
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5 January 2022 With 2021 now in the history books, earnings reporting season for Q4 and the full year is set to begin soon. Below we update the current consensus earnings outlook for Q4 as well as the coming year…
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9 December 2021 We remain overweight the Energy sector, as analysts continue to raise earnings estimates and the sector is very favorably valued, though the picture has become somewhat more mixed as crude oil prices have been volatile recently. News…
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14 October 2021 As Q3 earnings season gets underway, stocks in the Financials sector are in focus as they are typically among the first to report earnings. While history indicates companies are on average likely to beat Q3 estimates, our…
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30 September 2021 As Q3 ends and with reporting season set to begin in the coming weeks, we can update the current consensus earnings outlooks for Q3 and Q4 as well as calendar year 2021 and 2022 for the S&P…
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2 September 2021 In our regional allocation work, we have been underweight in Emerging Markets relative to developed markets since May, and remain so currently. A key reason for our continued underweight stance is that the relative fundamental momentum for…
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8 July 2021 As we have discussed for some time now, equity analysts are raising their forecasts for corporate earnings more broadly and by larger amounts than at any previous time in our 20-year data history. However, while analysts are…
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24 June 2021 One of the biggest questions we have been getting from clients is “is it time to rotate out of Cyclical/Value sectors toward Growth (or Defensive) sectors?”. Based on our measures of fundamental earnings momentum and macro views,…
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3 June 2021 While we have commented on the strength in US earnings estimate revisions activity recently, the latest readings warrant additional comment. Our data now show a new record (20-year+) high in the net proportion of analysts raising earnings…
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27 May 2021 Among the biggest losers from COVID-19 and the resulting work-from-home trends that followed was the commercial real estate industry. Office buildings and retail stores that had been mostly full in 2019 were suddenly empty, and the companies…
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