In the spreadsheet above I have tracked the earnings estimates for the top 30 weighted stocks in the IBD 50 Growth Index (ETF: FFTY) [that are not either included in the top 30 weights of the Russell (posted Jan 22: https://www.hedgefundtips.com/russell-2000-top-30-weights-earnings-estimates-revisions/) or in the top 30 weights of the Nasdaq (posted Jan 23: https://www.hedgefundtips.com/nasdaq-top-30-weights-earnings-estimates-revisions/)]. The purpose of this is so we have up to date EPS earnings/revisions for the top 30 weighted stocks in the DOW, S&P500, Russell 2000, Nasdaq, and IBD 50.
I have columns for what the 2019 and 2020 estimates (if available) were: 11/25/18, 12/25/18, and 1/25/19. The column under the date 1/25/19 has a letter that represents the movement in 2019 earnings estimates since the most recent print (12/25/18). “U” means 2019 estimates are UP in the last 10 days. “D” means 2019 estimates are DOWN in the last 10 days. “S” means 2019 estimates have remained the SAME in the last 10 days. The column entitled “1yr Target Est” is the Wall Street consensus 12 month price target for each stock. You can see how it has come up or come down in recent weeks.
What this table is telling us so far is that despite the dramatic dislocation in price in December, estimates have remained relatively stable so far. We will know more in coming weeks as more companies provide guidance in their earnings reports.
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