Call it the "incredible shrinking earnings story." Strategists are again starting to reduce earnings estimates. Analysts began cutting 2023 earnings estimates aggressively in the third quarter of last year. However, in February the rate of decline has slowed, but it now appears to be re-accelerating. Earnings: shrinking fast June 2022: $252 Dec. 1: $231 Jan.
"Multiples should flatline as persistently high inflation, tighter monetary policy and sub-par economic growth offset declining recession risk," Golub said in a note to clients. With 2022 earnings of roughly $220 already in the bag, a large part of Wall Street now expects earnings to be flattish to slightly negative for 2023. The problem is, even flattish earnings expectations may be too rosy.
less workers less products less profit. It’s time to booblr burst
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: fox13 - 🏆 550. / 51 Read more »