Watch out. Analysts have been cutting earnings estimates on these stocks reporting next week

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Enphase Energy Inc News

Valero Energy Corp,Tesla Inc,S&P 500 Index

Several stocks, like Tesla and Centene, have seen their earnings estimates cut by at least 10% over the past three and six months.

Investors should keep an eye on companies that could disappoint on earnings and see their share price fall. Wall Street has been lowering its third-quarter growth estimates for months now. According to a recent FactSet note, companies in the S & P 500 are projected to see a 4.2% increase in earnings compared with the same quarter a year ago, down from an expected 7.8% on June 30. That's not abnormal, however, as third-quarter growth estimates tend to decline in the preceding months.

" Enphase Energy also made the screener, as analysts surveyed by FactSet have slashed their earnings per share estimates on the stock by nearly 39% and 35.5% over the past three and six months, respectively. Just under half of analysts rate the stock a buy. RBC Capital Markets analyst Christopher Dendrinos recently lowered his outlook on the stock, downgrading Enphase to sector perform from outperform on Tuesday.

 

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