S&P 500 Earnings Decline For Fifth Consecutive Quarter by John Butters, Senior Earnings Analyst – FactSet
With 98% of the companies in the S&P 500 reporting earnings to date for Q2 2016, 71% have reported earnings above the mean estimate and 53% have reported sales above the mean estimate. What other notable movements have occurred in the S&P this quarter?
S&P 500 Earnings Growth
For Q2 2016, the blended earnings decline for the S&P 500 is -3.2%. The second quarter marks the first time the index has recorded five consecutive quarters of year-over-year declines in earnings since Q3 2008 through Q3 2009.
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On June 30, the estimated earnings decline for Q2 2016 was -5.5%. Seven sectors have higher growth rates today (compared to June 30) due to upside earnings surprises, led by the Information Technology and Consumer Discretionary sectors.
For Q3 2016, 77 S&P 500 companies have issued negative EPS guidance and 33 S&P 500 companies have issued positive EPS guidance.
The forward 12-month P/E ratio for the S&P 500 is 16.9. This P/E ratio is based on Thursday’s closing price (2172.47) and forward 12-month EPS estimate ($128.77).
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