Several companies scheduled to release quarterly results next week could see their shares take a dive after Wall Street analysts lowered their latest earnings estimates. Third-quarter earnings season is already off to a strong start. As of Tuesday, 19% of S & P 500 companies had reported, with earnings and revenue coming in 6.1% and 1.4% above analysts' expectations, respectively, according to LSEG. Compared to the year-ago quarter, earnings are up 4%, while revenue is ahead 4.2%.
mountain INTC, year-to-date Of all the names that made the screen, Humana has seen the biggest percentage decline in earnings estimates in the past three months, with analysts slashing forecasts by around 62%, according to FactSet data. Heading into quarterly results on Oct. 30, only around 31% of those analysts covering the health insurance provider have a buy rating. When Humana last reported results in late July, it told investors it still expected to earn about $16.
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