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Analysts cut earnings estimate for Asian companies for fifth straight month

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Analysts cut their forward 12-month earnings estimates for Asian companies for a fifth consecutive month in June, citing the economic fallout from the coronavirus pandemic.

FILE PHOTO: A man and a child sit in a park near the Central Business District on a “blue sky day" in Beijing in China, April 22, 2020. REUTERS/Thomas Peter/File Photo“Consensus estimates do not point to a return to pre-crisis EPS levels until the third quarter of 2021. And even this estimate is highly uncertain,” said Daniel Morris, senior investment strategist at BNP Paribas Asset Management, referring to earnings per share .

“The timing of a vaccine is the most important factor determining how quickly companies can return to pre-crisis activity levels.” Over the past 30 days, analysts have slashed Indian firms’ forward 12-month earnings forecasts by 8.05% - the steepest cut in Asia, Refinitiv data shows.

 

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