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Positive Sales And EPS Revisions Are At Multi-year Lows Which May Be Good News For Investors

Positive Sales And EPS Revisions Are At Multi-year Lows Which May Be Good News For Investors by Eric Bush, CFA, Gavekal Capital Blog

While most of equity investors’ attention over the past month has been understandably on the volatile price action in the stock market, analyst estimates have quietly declined to historically low levels. Over the past six months, only 49% of US stocks have experienced a positive EPS estimate revision. If we go back to 2000, we are currently sitting at a negative extreme for this series outside of when the US falls into a recession. The current reading is the lowest since September 2012 and is far below the 15-year average of 65%. It will...


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