Analysts cut earnings estimate for Asian companies for fifth straight month

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

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

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.

They lowered their estimates by 3.8per cent at end-June, after cutting their forecasts by 4.5per cent in May."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 .

Over the past 30 days, analysts have slashed Indian firms' forward 12-month earnings forecasts by 8.05per cent - the steepest cut in Asia, Refinitiv data shows. With over 700,000 coronavirus cases, India has overtaken Russia to record the world's third-highest number of infections, just behind the United States and Brazil.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China shares rally, Asian stocks take a breatherAsian markets looked set to rise on Tuesday as investors weighed growing expectations of an economic rebound in China and a resurgent U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian stocks set to follow US higher on China hopes, upbeat dataAsian markets looked set to rise on Tuesday as investors weighed growing expectations of an economic rebound in China and a resurgent U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »