Buy 4 Top Consumer Staples Stocks Ahead Of Earnings Results
Zacks Investment Research | Jan 29, 2020 06:54AM ET
Wall Street has maintained its momentum of 2019 since the beginning of this year, despite facing intermittent fluctuations due to geopolitical conflict with Iran and the outbreak of coronavirus in China. Meanwhile, fourth-quarter 2019 results have so far not been as disappointing as expected initially. However, overall earnings are still expected to dip.
Better-Than-Expected Fourth-Quarter Earnings Results So Far
As of Jan 27, just 87 S&P 500 members reported fourth-quarter earnings results. Total earnings of these companies are down 0.1% from the same period last year on 3.4% higher revenues. Of the total, 70.1% surpassed EPS estimates while 72.4% outpaced revenue estimates.
As of Jan 27, fourth-quarter 2019 earnings for the S&P 500 Index were projected to be down 2.6% year over year on 3.7% higher revenues. This suggests an improvement from earnings decline of 3.2% from the same period last year on 3.5% higher revenues, projected at the beginning of the reporting cycle. (Read More: Zacks Investment Research
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