2Q24 Earnings: Where Street Earnings Are Too High And Who Should Miss

Category: Finance

Wall Street analysts are overly optimistic about second-quarter earnings expectations for most S&P 500 companies. 75% of S&P 500 companies have Street Earnings higher than Core Earnings, with 42% of companies overstating by more than 10%. The analysis is based on ~3,000 10-Ks and 10-Qs filed with the SEC for 1Q24 results. On average, when Street Earnings exceed Core Earnings, they are overstated by 19%. Additionally, five S&P 500 companies are likely to miss 2Q24 earnings due to overstated Street EPS estimates.

Keywords: Wall Street analysts, S&P 500 companies, Street Earnings, Core Earnings, 2Q24 earnings, overstated earnings

Source: Forbes

Update At: 7/16/2024

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