In the spreadsheet above I have tracked the earnings estimates for the top 30 weighted Nasdaq stocks. I have columns for what the 2020 estimates were on 1/25/2020 today.
The column under the date 3/25/2020 has a letter that represents the movement in 2020 earnings estimates since the most recent print (1/25/2020). U means 2020 estimates are UP in the last 60 days. D means 2020 estimates are DOWN in the last 60 days. S means 2020 estimates have remained the SAME in the last 60 days. The column entitled 1yr Target Est is the Wall Street consensus 12 month price target for each stock.
What this table is telling us is that estimates have come down. More estimates came DOWN for 2020 in the past 60 days than went UP Down:Up 21:8 ratio. The rest remained the same.
The cumulative 2020 earnings power of these 30 stocks was revised DOWN by -10.89% in the past 60 days.
Thomas J. Hayes is Chairman and Managing Member of Great Hill Capital, LLC (a long/short equity manager based in New York City). He started HedgeFundTips.com as a platform to share actionable insights, tips and research for Hedge Funds, Institutions and Individual Traders to benefit from – based on what he has learned in his years of experience in the Hedge Fund industry. You can read his full bio at the site below.
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