In the spreadsheet above I have tracked the earnings estimates for the Oil & Gas Equipment & Services ETF (XES) top 30 weighted stocks.
The column under the date 12/14/2023 has a letter that represents the movement in 2024 earnings estimates since the most recent print (10/14/2023). “U” means 2024 estimates are UP in the last 60 days. “D” means 2024 estimates are DOWN in the last 60 days. “S” means 2024 estimates have remained the SAME in the last 60 days. The column entitled “1yr Target Est” is the Wall Street consensus 12 month price target for each stock.
What this table is telling us is that estimates have gone DOWN. More estimates came DOWN in the past 60 days than went UP – Up:Down – 6:24 ratio. The rest remained the same.
The cumulative 2024 earnings power of these stocks has fallen by -17.80%.
