{"id":11780,"date":"2021-07-18T15:22:37","date_gmt":"2021-07-18T21:22:37","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=11780"},"modified":"2021-07-18T15:22:37","modified_gmt":"2021-07-18T21:22:37","slug":"sp-500-weekly-earnings-2021-2022-eps-and-revenue-revisions-still-headed-higher","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=11780","title":{"rendered":"SP 500 Weekly Earnings: 2021, 2022 EPS and Revenue Revisions Still Headed Higher"},"content":{"rendered":"<p><a href=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-11781\" src=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721-300x121.png\" alt=\"\" width=\"300\" height=\"121\" srcset=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721-300x121.png 300w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721-1024x414.png 1024w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721-150x61.png 150w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721-768x311.png 768w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/q221fwdepsrevgrorates71721.png 1444w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>My favorite table for a quick look at SP 500 EPS and revenue revisions across the next 7 quarters. The data still telling a good story. Let&#8217;s see if the stock market has something else in mind.<\/p>\n<p>The &#8220;forward&#8221; 4-quarter estimate rose to $200.04 this weekend, for the first time ever. To think that during the pandemic, the 2020 SP 500 estimate fell to $125 per share or so, given Ed Yardeni&#8217;s work.<\/p>\n<p>SP 500 data:<\/p>\n<ul>\n<li>The forward 4-quarter estimate rose to $200.04 this week, from $199.63 last week and up from $159 as of 12\/31\/20.<\/li>\n<li>The PE ratio on the SP 500 at week&#8217;s end was 21.6x<\/li>\n<li>The SP 500 earnings yield ended the week at 4.62% vs 4.57% last week.<\/li>\n<li>The Q2 &#8217;21 bottom-up estimate jumped to $46.44 from last week&#8217;s $45.21. It was the 17th straight week of either flat or a sequential increase in the Q2 &#8217;21 bottom up estimate. It hasn&#8217;t declined sequentially since late March &#8217;21.<\/li>\n<\/ul>\n<p>SP 500 revisions &#8211; must have liked the financial sector numbers:<\/p>\n<p><a href=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/SP500revisions71621.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-11783\" src=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/SP500revisions71621-300x70.png\" alt=\"\" width=\"300\" height=\"70\" srcset=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/SP500revisions71621-300x70.png 300w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/SP500revisions71621-150x35.png 150w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/SP500revisions71621-768x179.png 768w, https:\/\/fundamentalis.com\/wp-content\/uploads\/2021\/07\/SP500revisions71621.png 958w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Data source: IBES by Refinitiv<\/p>\n<p>The Street liked either the financial sector earnings reports or the Retail Sales data (or both). Note the number and percentage of positive EPS revisions this week.<\/p>\n<p>That&#8217;s another plus.<\/p>\n<p><em><strong>Summary \/ conclusion:<\/strong><\/em> The data is sourced from IBES by Refinitiv but the table above are this blogs work. Hope you like the presentation and the content.<\/p>\n<p>Friday&#8217;s selloff seems to have spooked a number of people but let&#8217;s see what happens on Monday.<\/p>\n<p>The revision trends are still very positive &#8211; look at the first spreadsheet &#8211; but the growth rates will slow as we begin to lap the economic recovery which started in 2h &#8217;20.<\/p>\n<p>The market itself will sniff out any change possibly before the numbers do. Invest accordingly.<\/p>\n<p>Thanks for reading.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>My favorite table for a quick look at SP 500 EPS and revenue revisions across the next 7 quarters. The&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91],"tags":[],"class_list":["post-11780","post","type-post","status-publish","format-standard","hentry","category-weekly-earnings-update"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/11780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11780"}],"version-history":[{"count":4,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/11780\/revisions"}],"predecessor-version":[{"id":11786,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/11780\/revisions\/11786"}],"wp:attachment":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}