Author: Gary Ashton
Estimated read time: 3 minutes
Publication date: 3rd Nov 2019 21:47 GMT+1
The third-quarter earnings season in the US is in full force. FactSet report that 71% of the companies in the S&P 500 have reported financial results for Q3 2019 and that 76% report actual earnings-per-share (EPS) above Wall Street analyst estimates, which is higher than the 5-year average. They continue that companies are reporting sales that are approximately 1% above estimates, which is also above the 5-year average.
This week nine stocks in the S&P500 with a market capitalization above $50 billion are reporting third-quarter financial results. On Tuesday we get results from Allergan (NYSE: AGN), Becton Dickinson & Co (NYSE: BDX), and Fidelity (NYSE: FIS). On Wednesday, CVS Health Corp (NYSE: CVS) and Qualcomm (NASDAQ: QCOM) report. Thursday sees Booking Holdings (NASDAQ: BKNG), Walt Disney Co (NYSE: DIS), and Zoetis Inc (NYSE: ZTS) reporting. Finally, Duke Energy (NYSE: DUK) will round out the week on Friday.
Data from Finscreener shows a mixed bag of earnings ratings with three “Strong Buy” – CVS, BKNG and ZTS, one “Buy” – AGN, and one “Sell” for BDX and three “Strong Sell” – FIS, QCOM, and DIS. Investor’s eyes will likely be on Disney next week for several reasons, one being that it is the largest company reporting next week with a market cap of over $200 billion. Second, the company is a consumer discretionary name, so if US consumption is slowing, Disney’s results should reflect this.
Analysts are looking for $0.94 earnings per share in Disney’s Q3 results, which has been revised down by over 30% over the last 90 days. Q2 results missed analysts’ expectations and had a negative surprise of 23.30%, so the market will be watching closely to see if Q3 is a repeat of last quarter.
You can follow all the results using our Earnings Calendar. To see the same nine stocks mentioned in this blog, choose “S&P 500” from the market down in the upper left of the page. If not already selected, choose “This Week” in the middle of the page on the left. Finally, to filter down our names, select “Market Cap (mil)” from the filter at the top right and then change the symbol to “>” which means greater-than and type in 50,000, which is $50 billion. You should be able to see the same nine names mentioned here when finished.
Disclaimer: Gary Ashton is an experienced financial consultant who writes for Finscreener.com. The observations he makes are his own and are not intended as investment or trading advice.
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