{"id":6603,"date":"2017-01-09T13:26:35","date_gmt":"2017-01-09T13:26:35","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=6603"},"modified":"2017-01-09T13:26:35","modified_gmt":"2017-01-09T13:26:35","slug":"nice-bump-in-forward-4-quarter-sp-500-earnings-estimate","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=6603","title":{"rendered":"Nice Bump in &#8220;Forward 4-Quarter&#8221; SP 500 Earnings Estimate"},"content":{"rendered":"<p>Moving into January, 2017, here is the Thomson Reuters I\/B\/E\/S data by the numbers:<\/p>\n<ul>\n<li><em><strong>Forward 4-qtr est:<\/strong><\/em> $132.73, up from $128.57 last week, and typical with the roll into the new quarter.<\/li>\n<li><em><strong>P.E ratio:<\/strong><\/em> 17(x)<\/li>\n<li><em><strong>PEG ratio:<\/strong><\/em> 3.5(x)<\/li>\n<li><em><strong>SP 500 earnings yield<\/strong><\/em>: 5.83% vs. last week&#8217;s 5.74%<\/li>\n<li><em><strong>Year-over-year growth of forward estimate:<\/strong><\/em> +4.81%vs last week&#8217;s 5.03%.<\/li>\n<\/ul>\n<p><em><strong>Analysis \/ conclusion:<\/strong><\/em>\u00a0The &#8220;forward 4-quarter&#8221; estimate is now basically the calendar-year 2017 estimate. The bottom-up calendar year 2017 estimate is $132.61 versus the forward 4-quarter estimate of $132.73, so the difference is minor.<\/p>\n<p>If you read yesterday&#8217;s blog post <a href=\"https:\/\/fundamentalis.com\/?p=6596\">here<\/a>, you&#8217;ll see how the sell-side analysts have turned decidedly negative each of the first quarters of the last 3 years in terms of &#8220;positive vs. negative&#8221; revisions.<\/p>\n<p>We&#8217;ll see if this happens again this year, but I doubt it.<\/p>\n<p>Several big banks report Friday morning, January 13, &#8217;17. JP Morgan (JPM), Wells Fargo (WFC) and Bank of America (BAC).<\/p>\n<p>Per Thomson, the Financial sector&#8217;s y\/y earnings growth is expected at 15.7% in Q4 &#8217;16. Per Factset, Goldman Sachs (GS) and AIG (AIG) are the two biggest positive contributors to the sector.<\/p>\n<p>Long JPM, GS.<\/p>\n<p>Thanks for reading today.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Moving into January, 2017, here is the Thomson Reuters I\/B\/E\/S data by the numbers: Forward 4-qtr est: $132.73, up from&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":[84,53,92,60,27,91],"tags":[],"class_list":["post-6603","post","type-post","status-publish","format-standard","hentry","category-financial-sector","category-financials","category-fwd-4-qtr-growth-rate-sp-500","category-gs","category-jpm","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\/6603","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=6603"}],"version-history":[{"count":3,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/6603\/revisions"}],"predecessor-version":[{"id":6606,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/6603\/revisions\/6606"}],"wp:attachment":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}