The bulk of the Q4 earnings season is now behind us, with results from 358 S&P 500 members, or 71.6% of the index’s total membership, already out. With another 53 index members on deck to report results next week, we will have seen results from more than 80% of the index’s members by then.
This earnings season has turned out to be good one. Not only is growth on track to be the highest in two years, but total earnings for the quarter are also on track to be a new quarterly record.
Please recall that earnings growth turned positive only in 2016 Q3, having declined in each of the preceding 5 quarters, as the chart below of year-over-year earnings growth for the S&P 500 index shows.
Importantly, the positive Q4 growth isn’t a result of easy comparisons, but actually a function of strong gains in actual earnings. In fact, the overall tally of Q4 earnings for the S&P 500 index is on track to reach an all-time record for the index, surpassing the previous record achieved in 2014 Q4. The chart below shows the quarterly earnings totals for index, contrasting the highlighted Q4 tally with actual results from the last 8 quarters and expected tallies in the coming 4 quarters.
As you can see, this record isn’t expected to last very long, with growth expected to ramp up notably in the coming quarters.
One other positive for this earnings season is the relatively modest negative revisions to current-quarter (2017 Q1) estimates; they have come down, but not by as much as has historically been the case. The chart below shows evolution of Q1 estimates since the start of the period.
Q4 Scorecard (as of February 10, 2017)
We now have Q4 results from 358 S&P 500 members, or 71.6% of the index’s total membership. With 53 index members on deck to report results next week, we will have seen Q4 results from 80.2% of the index’s total membership by the end of next week. The notable reports this week include Cisco (CSCO - Free Report) , Deere & Co. (DE - Free Report) , Pepsi (PEP - Free Report) , AIG (AIG - Free Report) and others.
Total earnings for these 358 index members are up +6.1% on +4.6% higher revenues, with 69% beating EPS estimates and 54.7% coming ahead of top-line expectations.
The table below provides the current Q4 scorecard
The charts below provide a comparison of the results thus far with what we have seen from this same group of 358 S&P 500 members in other recent periods.
As you can see, the Q4 growth pace is notably tracking above what we had seen from the same group of 358 index members in other recent periods. But positive surprises (right-hand chart above) are tracking on the low side relative to historical periods, particularly on the earnings front. The 69% proportion of Q4 companies beating EPS estimates compares to 75.1% in the preceding quarter, 74.1% as the 4-quarter average and 72.4% as the 12-quarter average. Positive revenue surprises are tracking below what we had seen from the same group of companies in Q3, but are roughly in-line with historical periods.
The chart below compares the proportion of companies reporting Q4 results that are beating both EPS and revenue estimates with what this same group of companies had reported in other recent periods.
Standout Sectors
Sectors with strong growth and better than expected results (earnings & revenues) include the Finance, Construction, Technology, Utilities, And Business Services. Positive surprises for all of these sectors are tracking above the index level.
Finance: With results from 79.9% of the sector’s market cap in the S&P 500 index already out, total earnings for the sector are up +11.8% from the same period last year on +5% higher revenues, with +73.3% beating EPS estimates and +56% beating top-line estimates.
This is better growth performance than we have seen from the sector in other recent periods, as the comparison charts below show. Please note that positive surprises are as hard to come by in the Finance sector as they are elsewhere.
Strong Finance sector growth is a big driver of the aggregate growth performance for the S&P 500 index as a whole. Excluding the Finance sector, the Q4 growth pace still compares favorably with other recent periods, but a lot less so, as the right-hand chart below shows.
Technology: For the Technology sector, we now have Q4 results from 88.6% of the sector’s total market cap. Total earnings for these companies are up +8.2% from the same period last year on +6% higher revenues, with 71.4% beating EPS estimates and 71.4% beating revenue estimates.
This is better earnings growth than we have seen from this same group of Tech companies in Q3 or the preceding four quarters, but is about in-line with the 12-quarter average. Revenue growth, on the other hand, is tracking above historical periods. The revenue outperformance is visible in terms of positive surprises as well, with the proportion of Tech sector positive surprises notably tracking above Q3, the 4-quarter and 12-quarter averages, as you can see in the right-hand side chart. Earnings surprises (green bards in the right-hand chart) are tracking below historical periods, as is the case with other sectors as well.
Q4 Expectations As a Whole
For Q4 as a whole, combining the actual results from the 358 S&P 500 members that have reported with estimates for the still-to-come 142 companies, total earnings are expected to be up +7.5% from the same period last year on +3.9% higher revenues. This would follow the +3.7% growth in Q3 earnings on +2.2% higher revenues, the first instance of positive earnings growth for the index after five quarters of back-to-back declines. Comparisons for the Energy sector, a big driver of the earnings recession, turn positive in Q4, with the sector’s earnings growth turning positive for the first time after 8 quarters of declines.
The chart below shows the Q3 earnings growth contrasted with declines in the preceding 5 quarters. As you can see in the chart below, the growth pace is expected to ramp up in 2017.
The table below shows the summary picture Q4 contrasted with what was actually achieved in the preceding quarter.
For a complete analysis of the Q4 earnings season, please check out our weekly Earnings Trends report - Positive Earnings Picture.
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here >>>
Here is a list of the 380 companies reporting this week, including 53 S&P 500 members.
Company | Ticker | Current Qtr | Year-Ago Qtr | Last EPS Surprise % | Report Day | Time |
HCP INC | HCP | 0.57 | 0.8 | 1.41% | Monday | BTO |
BANK OF NT BUTR | NTB | 0.55 | N/A | 22.45% | Monday | BTO |
WEX INC | WEX | 1.17 | 1.11 | 11.32% | Monday | BTO |
VERSUM MATERLS | VSM | 0.4 | N/A | N/A | Monday | BTO |
NATL RETAIL PPT | NNN | 0.59 | 0.57 | 1.67% | Monday | BTO |
FIRST DATA CORP | FDC | 0.3 | -0.07 | 7.41% | Monday | BTO |
INSPERITY INC | NSP | 0.42 | 0.25 | 4.76% | Monday | BTO |
USA COMPRESSION | USAC | 0.03 | 1.5 | -25.00% | Monday | BTO |
CSW INDUSTRIALS | CSWI | 0.3 | 0.24 | 6.67% | Monday | BTO |
DIANA CONTAINER | DCIX | -0.77 | -0.24 | -10.26% | Monday | BTO |
ON SEMICON CORP | ON | 0.23 | 0.19 | -4.17% | Monday | BTO |
SCORPIO TANKERS | STNG | -0.2 | 0.21 | 0.00% | Monday | BTO |
SNYDERS-LANCE | LNCE | 0.4 | 0.32 | 16.67% | Monday | BTO |
RESTAURANT BRND | QSR | 0.42 | 0.33 | 4.88% | Monday | BTO |
VORNADO RLTY TR | VNO | 1.31 | 1.37 | -3.12% | Monday | AMC |
FED RLTY INV | FRT | 1.44 | 1.37 | -0.70% | Monday | AMC |
BRIDGELINE DGTL | BLIN | -0.03 | -0.12 | 40.00% | Monday | AMC |
TIER REIT INC | TIER | 0.36 | 0.38 | 2.70% | Monday | AMC |
DDR CORP | DDR | 0.31 | 0.31 | 6.45% | Monday | AMC |
GULFPORT ENGY | GPOR | 0.21 | -0.01 | 60.00% | Monday | AMC |
BRUKER CORP | BRKR | 0.37 | 0.38 | 60.00% | Monday | AMC |
ONEMAIN HOLDNGS | OMF | 0.8 | 0.77 | -15.89% | Monday | AMC |
RINGCENTRAL INC | RNG | -0.09 | -0.09 | 0.00% | Monday | AMC |
ARCH CAP GP LTD | ACGL | 1.01 | 1.15 | 11.76% | Monday | AMC |
CHEGG INC | CHGG | -0.01 | 0.07 | 23.53% | Monday | AMC |
CORNERSTONE OND | CSOD | -0.28 | -0.25 | 46.15% | Monday | AMC |
QUANTENNA COMMS | QTNA | 0.01 | N/A | N/A | Monday | AMC |
GUIDANCE SOFTWR | GUID | -0.05 | -0.11 | 23.08% | Monday | AMC |
T2 BIOSYSTEMS | TTOO | -0.45 | -0.56 | 5.56% | Monday | AMC |
ARGO GROUP INTL | AGII | 0.63 | 0.82 | 67.16% | Monday | AMC |
GIGPEAK INC | GIG | 0.04 | 0.03 | 50.00% | Monday | AMC |
PDF SOLUTIONS | PDFS | 0.08 | 0.11 | 20.00% | Monday | AMC |
AMKOR TECH INC | AMKR | 0.27 | 0.02 | 25.00% | Monday | AMC |
CUTERA INC | CUTR | 0.24 | 0.17 | 700.00% | Monday | AMC |
MULTI PCKG SOL | MPSX | 0.17 | -0.05 | -26.09% | Monday | AMC |
MASSROOTS INC | MSRT | N/A | N/A | N/A | Monday | AMC |
FLOWERS FOODS | FLO | 0.16 | 0.16 | -4.55% | Monday | AMC |
RENT-A-CENTER | RCII | -0.24 | 0.54 | 22.22% | Monday | AMC |
SERVICE CORP IN | SCI | 0.42 | 0.37 | -3.70% | Monday | AMC |
CORIUM INTRNTNL | CORI | -0.43 | -0.42 | -7.69% | Monday | AMC |
INVITAE CORP | NVTA | -0.69 | -0.76 | -14.93% | Monday | AMC |
ELLINGTON FINL | EFC | 0.27 | 0.39 | -35.48% | Monday | AMC |
AZURE POWER GLB | AZRE | -0.19 | N/A | N/A | Monday | AMC |
DYNATRONICS CP | DYNT | N/A | -0.08 | N/A | Monday | AMC |
BROOKDALE SENR | BKD | 0.47 | 0.58 | -17.74% | Monday | AMC |
STUDENT TRANSPT | STB | 0.07 | 0.07 | -30.00% | Monday | N/A |
RECRUIT HLDGS | RCRRF | N/A | N/A | N/A | Monday | N/A |
TEVA PHARM ADR | TEVA | 1.32 | 1.28 | 0.00% | Monday | N/A |
RECKITT BENCKSR | RBGLY | N/A | N/A | N/A | Monday | N/A |
NOBLE ENERGY | NBL | -0.09 | 0.44 | 68.18% | Tuesday | BTO |
MARTIN MRT-MATL | MLM | 1.65 | 1.15 | -5.68% | Tuesday | BTO |
DR PEPPER SNAPL | DPS | 1.06 | 1 | 5.41% | Tuesday | BTO |
DISCOVERY COM-A | DISCA | 0.51 | 0.38 | -6.98% | Tuesday | BTO |
MOLSON COORS-B | TAP | 0.88 | 0.49 | 1.98% | Tuesday | BTO |
DISCOVERY COM-C | DISCK | 0.47 | 0.38 | -6.98% | Tuesday | BTO |
NOVA MEASURING | NVMI | 0.37 | 0.19 | 33.33% | Tuesday | BTO |
BRIXMOR PPTY GP | BRX | 0.51 | 0.51 | 0.00% | Tuesday | BTO |
LINCOLN ELECTRC | LECO | 0.81 | 0.75 | 7.23% | Tuesday | BTO |
WATSCO INC | WSO | 0.87 | 0.75 | -6.32% | Tuesday | BTO |
TRANSUNION | TRU | 0.32 | 0.28 | 0.00% | Tuesday | BTO |
CAE INC | CAE | 0.17 | 0.17 | 0.00% | Tuesday | BTO |
IPG PHOTONICS | IPGP | 1.4 | 1.14 | 4.88% | Tuesday | BTO |
SEQUANS COMM | SQNS | -0.06 | -0.07 | 22.22% | Tuesday | BTO |
AU OPTRONCS-ADR | AUO | N/A | -0.26 | 50.00% | Tuesday | BTO |
CREDIT SUISSE | CS | N/A | -1.02 | N/A | Tuesday | BTO |
T-MOBILE US INC | TMUS | 0.29 | 0.34 | 22.73% | Tuesday | BTO |
CHARLES RVR LAB | CRL | 1.11 | 1 | 3.51% | Tuesday | BTO |
QUINTILES TRANS | Q | 1.06 | 0.9 | 0.00% | Tuesday | BTO |
INCYTE CORP | INCY | 0.14 | 0.29 | 1000.00% | Tuesday | BTO |
ITT INC | ITT | 0.42 | 0.58 | 0.00% | Tuesday | BTO |
ACORDA THERAPT | ACOR | -0.18 | 0.21 | -7.69% | Tuesday | BTO |
DIANA SHIPPING | DSX | -0.4 | -0.3 | -130.23% | Tuesday | BTO |
MONEYGRAM INTL | MGI | 0.17 | 0.16 | 40.00% | Tuesday | BTO |
NAVIOS MARIT LP | NMM | 0 | 0.09 | 600.00% | Tuesday | BTO |
RETAILMENOT INC | SALE | 0.24 | 0.28 | 200.00% | Tuesday | BTO |
TILE SHOP HLDGS | TTS | 0.09 | 0.08 | 11.11% | Tuesday | BTO |
AMAG PHARMA INC | AMAG | 0.24 | 0.2 | 19.44% | Tuesday | BTO |
AIRCASTLE LTD | AYR | 0.48 | 0.63 | -12.20% | Tuesday | BTO |
CAPELLA EDUCATN | CPLA | 0.95 | 0.96 | 30.65% | Tuesday | BTO |
DISCOVERY COM-B | DISCB | 0.5 | 0.38 | 2.56% | Tuesday | BTO |
H2O INNOVATION | HEOFF | -0.01 | 0.01 | 100.00% | Tuesday | BTO |
NEWSTAR FIN INC | NEWS | 0.12 | 0.09 | 72.73% | Tuesday | BTO |
NETSOL TECH INC | NTWK | 0.03 | 0.08 | 137.50% | Tuesday | BTO |
RADCOM LTD | RDCM | 0.03 | -0.23 | -100.00% | Tuesday | BTO |
STATE AUTO FINL | STFC | 0.5 | 0 | -81.13% | Tuesday | BTO |
MICHELIN COMP G | MGDDY | N/A | N/A | N/A | Tuesday | BTO |
ROLLS ROYCE PLC | RYCEY | N/A | N/A | N/A | Tuesday | BTO |
GENERAC HOLDING | GNRC | 1.03 | 0.97 | 7.89% | Tuesday | BTO |
VONAGE HOLDINGS | VG | 0.05 | 0.06 | 60.00% | Tuesday | BTO |
DIEBOLD INC | DBD | 0.33 | 0.78 | 17.24% | Tuesday | BTO |
TOWER INTL INC | TOWR | 0.96 | 0.67 | 12.50% | Tuesday | BTO |
ALLIANCEBERNSTN | AB | 0.48 | 0.5 | 2.27% | Tuesday | BTO |
DCP MIDSTREAM | DCP | 0.49 | 0.81 | 18.60% | Tuesday | BTO |
MERUS LABS INTL | MSLI | -0.01 | -0.01 | -200.00% | Tuesday | BTO |
EXPRESS SCRIPTS | ESRX | 1.87 | 1.56 | 0.00% | Tuesday | AMC |
DEVON ENERGY | DVN | 0.19 | 0.77 | 80.00% | Tuesday | AMC |
FLIR SYSTEMS | FLIR | 0.55 | 0.47 | -2.27% | Tuesday | AMC |
AMER INTL GRP | AIG | 1.24 | -1.1 | -17.36% | Tuesday | AMC |
AGILENT TECH | A | 0.49 | 0.46 | 13.46% | Tuesday | AMC |
DIAMONDBACK EGY | FANG | 0.54 | 0.58 | 54.29% | Tuesday | AMC |
FOSSIL GRP INC | FOSL | 1.21 | 1.74 | 40.00% | Tuesday | AMC |
RETAIL PROPERTS | RPAI | 0.25 | 0.25 | 3.85% | Tuesday | AMC |
CENTURY COMMUNT | CCS | 0.67 | 0.62 | 5.00% | Tuesday | AMC |
KORNIT DIGITAL | KRNT | 0.12 | 0.08 | 50.00% | Tuesday | AMC |
HUBSPOT INC | HUBS | -0.47 | -0.3 | 16.67% | Tuesday | AMC |
ON ASSIGNMENT | ASGN | 0.67 | 0.76 | -11.90% | Tuesday | AMC |
BOYD GAMING CP | BYD | 0.24 | 0.16 | 16.67% | Tuesday | AMC |
ENLINK MIDST LP | ENLK | 0 | 0.18 | -200.00% | Tuesday | AMC |
LENDINGCLUB CP | LC | -0.09 | 0.02 | 20.00% | Tuesday | AMC |
MASIMO CORP | MASI | 0.51 | 0.15 | 11.90% | Tuesday | AMC |
ENLINK MIDS LLC | ENLC | 0.08 | 1.81 | -100.00% | Tuesday | AMC |
OWENS & MINOR | OMI | 0.5 | 0.56 | 0.00% | Tuesday | AMC |
AMER ASSETS TR | AAT | 0.49 | 0.45 | -2.08% | Tuesday | AMC |
CAI INTL INC | CAI | 0.11 | 0.52 | -30.43% | Tuesday | AMC |
CALIX INC | CALX | -0.11 | -0.09 | -25.00% | Tuesday | AMC |
AEROHIVE NETWRK | HIVE | -0.2 | -0.14 | 0.00% | Tuesday | AMC |
VIPER ENERGY | VNOM | 0.15 | 0.06 | 20.00% | Tuesday | AMC |
BLACKSTONE MRTG | BXMT | 0.6 | 0.64 | 8.20% | Tuesday | AMC |
FRANKLIN ST PPT | FSP | 0.25 | 0.27 | 0.00% | Tuesday | AMC |
PAN AMER SILVER | PAAS | 0.12 | -0.12 | 84.62% | Tuesday | AMC |
SOLAREDGE TECH | SEDG | 0.23 | 0.41 | 10.26% | Tuesday | AMC |
CHIMERA INVEST | CIM | 0.64 | 0.53 | 21.43% | Tuesday | AMC |
HAWAIIAN ELEC | HE | 0.42 | 0.41 | 18.37% | Tuesday | AMC |
WORLD FUEL SVCS | INT | 0.62 | 0.84 | 5.56% | Tuesday | AMC |
ADESTO TECH CP | IOTS | -0.12 | -0.15 | 0.00% | Tuesday | AMC |
RPX CORP | RPXC | 0.16 | 0.16 | 11.76% | Tuesday | AMC |
TRUPANION INC | TRUP | -0.05 | -0.11 | 14.29% | Tuesday | AMC |
TECHTARGET | TTGT | 0.01 | 0.06 | -50.00% | Tuesday | AMC |
CEMENTOS PACASM | CPAC | 0.3 | 0.17 | -7.69% | Tuesday | AMC |
ENSYNC INC | ESNC | -0.07 | -0.1 | -25.00% | Tuesday | AMC |
HOLLYSYS AUTOMT | HOLI | 0.51 | 0.59 | -30.19% | Tuesday | AMC |
INNOSPEC INC | IOSP | 0.9 | 1.24 | -2.50% | Tuesday | AMC |
LUXOFT HOLDING | LXFT | 0.63 | 0.52 | -5.71% | Tuesday | AMC |
MAM SOFTWARE GP | MAMS | 0.03 | 0.06 | 233.33% | Tuesday | AMC |
NORTH AMER EGY | NOA | 0.01 | -0.01 | 42.86% | Tuesday | AMC |
NATL RESEARCH-A | NRCIA | 0.22 | 0.24 | 0.00% | Tuesday | AMC |
VASCO DATA SEC | VDSI | 0.1 | 0.15 | 12.50% | Tuesday | AMC |
GENOMIC HEALTH | GHDX | 0 | -0.1 | -14.29% | Tuesday | AMC |
INVUITY INC | IVTY | -0.56 | -0.76 | 9.68% | Tuesday | AMC |
TANGER FACT OUT | SKT | 0.61 | 0.58 | 3.33% | Tuesday | AMC |
ACADIA RLTY TR | AKR | 0.42 | 0.35 | 5.88% | Tuesday | AMC |
POTBELLY CORP | PBPB | 0.06 | 0.08 | 20.00% | Tuesday | AMC |
PROTHENA CP PLC | PRTA | -1.24 | -0.76 | -2.44% | Tuesday | AMC |
ORCHIDS PAPER | TIS | 0.25 | 0.36 | -30.00% | Tuesday | AMC |
SEMICON MFG-ADR | SMI | N/A | 0.05 | 50.00% | Tuesday | AMC |
DIODES INC | DIOD | 0.17 | 0.14 | 0.00% | Tuesday | AMC |
NOBLE MIDSTREAM | NBLX | 0.76 | N/A | -77.78% | Tuesday | N/A |
RANDSTAD HOLDNG | RANJY | N/A | N/A | N/A | Tuesday | N/A |
TOKIO MARINE HL | TKOMY | N/A | 1.07 | N/A | Tuesday | N/A |
TUI AG ADR | TUIFY | N/A | N/A | N/A | Tuesday | N/A |
ANALOG DEVICES | ADI | 0.74 | 0.56 | 16.67% | Wednesday | BTO |
ENTERGY CORP | ETR | 0.11 | 1.58 | 18.46% | Wednesday | BTO |
WYNDHAM WORLDWD | WYN | 1.3 | 0.98 | 1.07% | Wednesday | BTO |
PEPSICO INC | PEP | 1.16 | 1.06 | 6.06% | Wednesday | BTO |
TECK RESOURCES | TECK | 1.43 | 0.02 | -13.04% | Wednesday | BTO |
CERAGON NETWRKS | CRNT | 0.05 | 0.02 | 66.67% | Wednesday | BTO |
NOW INC | DNOW | -0.37 | -0.25 | 12.82% | Wednesday | BTO |
CEDAR FAIR | FUN | 0.06 | -0.13 | -12.18% | Wednesday | BTO |
WIX.COM LTD | WIX | -0.16 | -0.27 | -9.52% | Wednesday | BTO |
ALCOBRA LTD | ADHD | -0.25 | -0.2 | -3.70% | Wednesday | BTO |
US FOODS HLDG | USFD | 0.48 | N/A | 0.00% | Wednesday | BTO |
AKZO NOBEL NV | AKZOY | N/A | 0.26 | N/A | Wednesday | BTO |
TARGA RESOURCES | TRGP | 0 | 0.48 | -130.00% | Wednesday | BTO |
GROUPON INC | GRPN | -0.02 | -0.02 | 25.00% | Wednesday | BTO |
SHOPIFY INC | SHOP | -0.12 | -0.08 | -10.00% | Wednesday | BTO |
CINCINNATI BELL | CBB | 0.03 | 0.1 | 0.00% | Wednesday | BTO |
LITHIA MOTORS | LAD | 1.87 | 1.74 | -4.63% | Wednesday | BTO |
ALLETE INC | ALE | 0.73 | 0.37 | 3.13% | Wednesday | BTO |
ANGIES LIST INC | ANGI | 0.03 | 0.24 | -86.67% | Wednesday | BTO |
MANITOWOC FOODS | MFS | 0.17 | N/A | 17.65% | Wednesday | BTO |
OCH-ZIFF CAPTL | OZM | 0.01 | -0.07 | 66.67% | Wednesday | BTO |
PHOTRONICS INC | PLAB | 0.04 | 0.17 | 150.00% | Wednesday | BTO |
SODASTREAM INTL | SODA | 0.31 | 0.24 | 187.50% | Wednesday | BTO |
SONUS NETWORKS | SONS | -0.05 | 0.13 | 0.00% | Wednesday | BTO |
ALKERMES INC | ALKS | -0.19 | -0.3 | 0.00% | Wednesday | BTO |
COMPUGEN LTD | CGEN | -0.18 | -0.01 | -15.38% | Wednesday | BTO |
CROWN CRAFTS | CRWS | 0.13 | 0.21 | -37.50% | Wednesday | BTO |
COLLIERS INT GP | CIGI | 1.1 | 1.04 | -29.09% | Wednesday | BTO |
SYNERON MED LTD | ELOS | 0.03 | 0.05 | 200.00% | Wednesday | BTO |
CREDIT AGRICOLE | CRARY | N/A | N/A | N/A | Wednesday | BTO |
DANONE-ADR | DANOY | N/A | N/A | N/A | Wednesday | BTO |
HEINEKEN NV | HEINY | N/A | N/A | N/A | Wednesday | BTO |
BUNGE LTD | BG | 1.6 | 1.49 | -9.88% | Wednesday | BTO |
HUNTSMAN CORP | HUN | 0.25 | 0.51 | 8.57% | Wednesday | BTO |
HILTON WW HLDG | HLT | 0.65 | 0.66 | 0.00% | Wednesday | BTO |
CIMAREX ENERGY | XEC | 0.58 | -0.25 | 10.81% | Wednesday | AMC |
CBS CORP | CBS | 1.1 | 0.92 | 7.14% | Wednesday | AMC |
NETAPP INC | NTAP | 0.59 | 0.52 | 10.53% | Wednesday | AMC |
APPLD MATLS INC | AMAT | 0.66 | 0.26 | 1.54% | Wednesday | AMC |
MARRIOTT INTL-A | MAR | 0.83 | 0.77 | 1.11% | Wednesday | AMC |
MARATHON OIL CP | MRO | -0.13 | -0.48 | 42.11% | Wednesday | AMC |
CF INDUS HLDGS | CF | -0.06 | 0.76 | 160.00% | Wednesday | AMC |
KRAFT HEINZ CO | KHC | 0.87 | 0.62 | 9.21% | Wednesday | AMC |
WILLIAMS COS | WMB | 0.2 | 0.01 | 25.00% | Wednesday | AMC |
CISCO SYSTEMS | CSCO | 0.5 | 0.53 | 1.85% | Wednesday | AMC |
STERICYCLE INC | SRCL | 0.92 | 1.11 | 5.08% | Wednesday | AMC |
EQUINIX INC | EQIX | 3.41 | 2.85 | 16.52% | Wednesday | AMC |
INTL F & F | IFF | 1.16 | 1.05 | -4.96% | Wednesday | AMC |
TRIPADVISOR INC | TRIP | 0.18 | 0.36 | -2.38% | Wednesday | AMC |
ANNALY CAP MGMT | NLY | 0.3 | 0.31 | 3.57% | Wednesday | AMC |
RUSH ENTRPRS-A | RUSHA | 0.3 | 0.33 | 27.59% | Wednesday | AMC |
CHOICE HTL INTL | CHH | 0.54 | 0.51 | 6.33% | Wednesday | AMC |
COPA HLDGS SA-A | CPA | 1.35 | 0.73 | 1.56% | Wednesday | AMC |
JAMES RIVER GRP | JRVR | 0.65 | 0.6 | 7.46% | Wednesday | AMC |
LAREDO PETROLM | LPI | 0.16 | 0.06 | -7.69% | Wednesday | AMC |
GODADDY INC-A | GDDY | 0.08 | 0 | 66.67% | Wednesday | AMC |
LIFE STORAGE | LSI | 1.3 | 1.28 | -2.90% | Wednesday | AMC |
MOLINA HLTHCR | MOH | 0.75 | 0.65 | 11.84% | Wednesday | AMC |
BARRICK GOLD CP | ABX | 0.21 | 0.08 | 26.32% | Wednesday | AMC |
COVANTA HOLDING | CVA | 0.12 | 0.03 | 28.57% | Wednesday | AMC |
OIL STATES INTL | OIS | -0.22 | 0.13 | 17.39% | Wednesday | AMC |
TALLGRASS ENRGY | TEP | 0.61 | 0.4 | -15.00% | Wednesday | AMC |
CONFORMIS INC | CFMS | -0.3 | -0.37 | 13.89% | Wednesday | AMC |
CURTISS WRIGHT | CW | 1.48 | 1.53 | 0.99% | Wednesday | AMC |
MARTIN MIDSTRM | MMLP | 0.34 | N/A | -175.00% | Wednesday | AMC |
WILLIAMS PTR LP | WPZ | 0.41 | 0.2 | 68.00% | Wednesday | AMC |
AGNICO EAGLE | AEM | 0.14 | 0 | 26.32% | Wednesday | AMC |
CLOUD PEAK EGY | CLD | -0.05 | 0.37 | 150.00% | Wednesday | AMC |
KINROSS GOLD | KGC | 0.03 | -0.06 | 100.00% | Wednesday | AMC |
AVIS BUDGET GRP | CAR | 0.18 | 0.18 | 5.56% | Wednesday | AMC |
CRYOLIFE INC | CRY | 0.08 | 0.13 | 225.00% | Wednesday | AMC |
CASTLIGHT HLTH | CSLT | -0.11 | -0.21 | 28.57% | Wednesday | AMC |
SYNOPSYS INC | SNPS | 0.48 | 0.39 | 2.17% | Wednesday | AMC |
ANDERSONS INC | ANDE | 0.72 | 0.18 | -73.91% | Wednesday | AMC |
ANIKA THERAPEUT | ANIK | 0.52 | 0.72 | 25.53% | Wednesday | AMC |
CHEMOURS COMPNY | CC | 0.32 | 0.03 | 74.29% | Wednesday | AMC |
COMMERCEHUB-A | CHUBA | 0.13 | N/A | N/A | Wednesday | AMC |
BLACKHAWK NETWK | HAWK | 0.99 | 1.08 | -76.19% | Wednesday | AMC |
IRHYTHM TECH | IRTC | -0.28 | N/A | -937.04% | Wednesday | AMC |
NEENAH PAPER | NP | 0.9 | 0.91 | -1.98% | Wednesday | AMC |
ENPRO INDUS INC | NPO | 0.56 | 0.44 | -10.42% | Wednesday | AMC |
NETEASE INC | NTES | 3.55 | 2.52 | 0.65% | Wednesday | AMC |
PARKER DRILLING | PKD | -0.38 | -0.19 | 11.90% | Wednesday | AMC |
Q2 HOLDINGS INC | QTWO | -0.15 | -0.15 | 5.88% | Wednesday | AMC |
SS&C TECHNOLOGS | SSNC | 0.39 | 0.32 | 8.57% | Wednesday | AMC |
CHEMED CORP | CHE | 2.11 | 1.9 | -3.89% | Wednesday | AMC |
JMP GROUP INC | JMP | 0.1 | 0.04 | -40.00% | Wednesday | AMC |
LATTICE SEMICON | LSCC | 0.11 | -0.08 | -50.00% | Wednesday | AMC |
NMI HOLDINGS-A | NMIH | N/A | -0.08 | 42.86% | Wednesday | AMC |
OMNICELL INC | OMCL | 0.07 | 0.33 | 15.38% | Wednesday | AMC |
QUICKLOGIC CORP | QUIK | -0.07 | -0.09 | 0.00% | Wednesday | AMC |
SUNPOWER CORP-A | SPWR | -0.51 | 1.62 | -16.42% | Wednesday | AMC |
TIVO CORP | TIVO | 0.45 | 0.52 | 267.86% | Wednesday | AMC |
HEALTHCARE TRST | HTA | 0.41 | 0.39 | 0.00% | Wednesday | AMC |
HEALTHCARE RLTY | HR | 0.4 | 0.41 | -2.50% | Wednesday | AMC |
NEW GOLD INC | NGD | 0.02 | 0.01 | 50.00% | Wednesday | AMC |
HORNBECK OFFSHR | HOS | -0.52 | -0.07 | 27.42% | Wednesday | AMC |
CARRIAGE SVCS-A | CSV | 0.45 | 0.39 | 13.16% | Wednesday | AMC |
DENNY'S CORP | DENN | 0.13 | 0.11 | 0.00% | Wednesday | AMC |
EQUITY COMMONWL | EQC | 0.21 | 0.27 | -14.81% | Wednesday | AMC |
SUN LIFE FINL | SLF | 0.71 | 0.73 | 11.27% | Wednesday | AMC |
VANDA PHARMACT | VNDA | -0.06 | -0.28 | 160.00% | Wednesday | AMC |
PHH CORP | PHH | -0.17 | -0.39 | -150.00% | Wednesday | AMC |
GLADSTONE COMML | GOOD | N/A | 0.39 | N/A | Wednesday | AMC |
GOLDCORP INC | GG | 0.09 | -0.15 | -8.33% | Wednesday | AMC |
TALLGRASS ENRGY | TEGP | 0.17 | 0.37 | -28.57% | Wednesday | AMC |
AGEAS-ADR | AGESY | N/A | 0.87 | N/A | Wednesday | N/A |
CONS PORTFOLIO | CPSS | 0.22 | 0.29 | 18.18% | Wednesday | N/A |
KNOT OFFSHOR LP | KNOP | 0.44 | 0.68 | 15.56% | Wednesday | N/A |
BANCO MACRO-ADR | BMA | 1.62 | 3.37 | 13.66% | Wednesday | N/A |
AIR LIQUIDE-ADR | AIQUY | N/A | N/A | N/A | Wednesday | N/A |
AMEREN CORP | AEE | 0.15 | 0.12 | 10.14% | Thursday | BTO |
SCANA CORP | SCG | 0.93 | 0.83 | 25.71% | Thursday | BTO |
CHARTER COMM-A | CHTR | 1.06 | -1.21 | 11.29% | Thursday | BTO |
LABORATORY CP | LH | 2.13 | 1.98 | -1.75% | Thursday | BTO |
DUKE ENERGY CP | DUK | 0.81 | 0.87 | 7.69% | Thursday | BTO |
WASTE MGMT-NEW | WM | 0.77 | 0.71 | 5.00% | Thursday | BTO |
PG&E CORP | PCG | 1.29 | 0.5 | -14.55% | Thursday | BTO |
ALEXION PHARMA | ALXN | 1.1 | 0.84 | 13.46% | Thursday | BTO |
ZOETIS INC | ZTS | 0.45 | 0.43 | 13.04% | Thursday | BTO |
CYS INVESTMENTS | CYS | 0.24 | 0.27 | 4.00% | Thursday | BTO |
CABELAS INC | CAB | 1.23 | 1.26 | -33.75% | Thursday | BTO |
CONE MIDSTREAM | CNNX | 0.38 | 0.38 | 8.11% | Thursday | BTO |
MGM RESORTS INT | MGM | 0.17 | -0.01 | 625.00% | Thursday | BTO |
HUNTINGTON INGL | HII | 2.48 | 2.24 | -5.02% | Thursday | BTO |
BLUERCK RG REIT | BRG | 0.14 | 0.21 | 320.00% | Thursday | BTO |
LIBERTY GLBL-A | LBTYA | N/A | -0.32 | -1700.00% | Thursday | BTO |
HYATT HOTELS CP | H | 0.24 | 0.21 | 67.86% | Thursday | BTO |
ICON PLC | ICLR | 1.26 | 1.11 | 0.85% | Thursday | BTO |
DEAN FOODS CO | DF | 0.41 | 0.36 | 0.00% | Thursday | BTO |
ON DECK CAPITAL | ONDK | -0.23 | -0.06 | -15.00% | Thursday | BTO |
WENDYS CO/THE | WEN | 0.09 | 0.12 | 10.00% | Thursday | BTO |
RELIANCE STEEL | RS | 0.75 | 0.87 | -4.58% | Thursday | BTO |
AGIOS PHARMACT | AGIO | -1.55 | -1.08 | -7.95% | Thursday | BTO |
AVON PRODS INC | AVP | 0.1 | 0 | -33.33% | Thursday | BTO |
GENESIS ENERGY | GEL | 0.31 | 0.21 | -9.68% | Thursday | BTO |
GNC HOLDINGS | GNC | 0.37 | 0.63 | -16.90% | Thursday | BTO |
HUDSON PAC PPTY | HPP | 0.46 | 0.44 | 4.55% | Thursday | BTO |
ENCANA CORP | ECA | 0.03 | 0.13 | 500.00% | Thursday | BTO |
GENOCEA BIOSCI | GNCA | -0.47 | -0.37 | -4.65% | Thursday | BTO |
NAVIGANT CONSLT | NCI | 0.26 | 0.28 | 27.59% | Thursday | BTO |
WEST PHARM SVC | WST | 0.55 | 0.47 | 1.92% | Thursday | BTO |
BUILD-A-BEAR WK | BBW | 0.69 | 0.62 | 0.00% | Thursday | BTO |
MGM GROWTH PPTY | MGP | 0.5 | N/A | -4.00% | Thursday | BTO |
NICE LTD | NICE | 1.03 | 1.01 | 5.88% | Thursday | BTO |
PBF LOGISTICS | PBFX | 0.54 | 0.5 | -3.85% | Thursday | BTO |
POOL CORP | POOL | 0.05 | 0.06 | 4.04% | Thursday | BTO |
ENDURANCE INTL | EIGI | -0.29 | 0.1 | 59.09% | Thursday | BTO |
MAZOR ROBOTICS | MZOR | -0.18 | -0.14 | 16.67% | Thursday | BTO |
STRAYER EDUC | STRA | 1.16 | 1.21 | 19.05% | Thursday | BTO |
STILLWATER MNG | SWC | 0.06 | 0.04 | 400.00% | Thursday | BTO |
TEXTAINER GROUP | TGH | -0.37 | 0.22 | -666.67% | Thursday | BTO |
TRADE DESK INC | TTD | 0.2 | N/A | 4.35% | Thursday | BTO |
CVR PARTNERS LP | UAN | 0.03 | 0.26 | -33.33% | Thursday | BTO |
BRASKEM SA | BAK | -2.1 | 0.15 | 107.79% | Thursday | BTO |
BLUCORA INC | BCOR | -0.27 | -0.33 | 20.59% | Thursday | BTO |
CBIZ INC | CBZ | -0.04 | 0.09 | 0.00% | Thursday | BTO |
CRA INTL INC | CRAI | 0.22 | 0.03 | 21.88% | Thursday | BTO |
LIBERTY LILAC A | LILA | 0.38 | -0.3 | -571.43% | Thursday | BTO |
YANDEX NV-A | YNDX | N/A | 0.13 | 50.00% | Thursday | BTO |
COCA-COLA HBC | CCHGY | N/A | N/A | N/A | Thursday | BTO |
PETROLEUM GEO | PGSVY | N/A | -0.68 | N/A | Thursday | BTO |
SCHNEIDER ELECT | SBGSY | N/A | N/A | N/A | Thursday | BTO |
PBF ENERGY INC | PBF | -0.46 | 0.7 | -30.00% | Thursday | BTO |
HIMAX TECH-ADR | HIMX | 0.07 | 0.04 | -20.00% | Thursday | BTO |
CIRCOR INTL | CIR | 0.41 | 0.63 | 6.98% | Thursday | BTO |
INDEP REALTY TR | IRT | 0.16 | 0.22 | 0.00% | Thursday | BTO |
EPAM SYSTEMS | EPAM | 0.55 | 0.56 | 3.70% | Thursday | BTO |
SELECT INCOME | SIR | 0.71 | 0.76 | -4.17% | Thursday | BTO |
FORTIS INC | FTS | 0.36 | 0.37 | 7.89% | Thursday | BTO |
TIME INC | TIME | 0.76 | 0.58 | 0.00% | Thursday | BTO |
TEMPUR SEALY | TPX | 1.13 | 0.99 | 8.20% | Thursday | BTO |
AIR FRANCE-ADR | AFLYY | N/A | 0.07 | N/A | Thursday | BTO |
DIGITAL RLTY TR | DLR | 1.43 | 1.38 | -0.69% | Thursday | AMC |
FLOWSERVE CORP | FLS | 0.65 | 0.89 | -14.75% | Thursday | AMC |
DAVITA INC | DVA | 0.91 | 1.01 | 1.06% | Thursday | AMC |
REPUBLIC SVCS | RSG | 0.55 | 0.5 | 6.90% | Thursday | AMC |
CONSOL EDISON | ED | 0.65 | 0.61 | 0.67% | Thursday | AMC |
CYTOKINETCS INC | CYTK | -0.27 | -0.24 | 374.07% | Thursday | AMC |
US ECOLOGY INC | ECOL | 0.45 | 0.36 | -16.07% | Thursday | AMC |
KEYSIGHT TECH | KEYS | 0.5 | 0.45 | 5.26% | Thursday | AMC |
TRINITY INDS IN | TRN | 0.38 | 1.3 | 5.77% | Thursday | AMC |
TIMKENSTEEL CP | TMST | -0.46 | -0.58 | -2.70% | Thursday | AMC |
URBAN EDGE PROP | UE | 0.33 | 0.3 | 0.00% | Thursday | AMC |
ULTRAGENYX PHAR | RARE | -1.74 | -1.42 | -5.13% | Thursday | AMC |
ALLSCRIPTS HLTH | MDRX | 0.12 | 0.11 | 10.00% | Thursday | AMC |
WHITEWAVE FOODS | WWAV | 0.42 | 0.36 | -7.89% | Thursday | AMC |
ARISTA NETWORKS | ANET | 0.67 | 0.68 | 16.95% | Thursday | AMC |
CUBESMART | CUBE | 0.37 | 0.33 | 5.56% | Thursday | AMC |
MRC GLOBAL INC | MRC | -0.11 | 0.12 | 60.00% | Thursday | AMC |
STAG INDUSTRIAL | STAG | 0.4 | 0.4 | 5.26% | Thursday | AMC |
WEBMD HEALTH CP | WBMD | 0.67 | 0.6 | 17.50% | Thursday | AMC |
COGNEX CORP | CGNX | 0.3 | 0.22 | 2.08% | Thursday | AMC |
BRIGHTCOVE | BCOV | -0.02 | 0 | 0.00% | Thursday | AMC |
COOPER-STANDARD | CPS | 2.32 | 3.01 | 6.44% | Thursday | AMC |
AMN HLTHCR SVCS | AMN | 0.55 | 0.47 | 10.71% | Thursday | AMC |
YAMANA GOLD INC | AUY | 0.03 | -0.01 | -60.00% | Thursday | AMC |
FIVE9 INC | FIVN | -0.08 | -0.07 | 50.00% | Thursday | AMC |
NORTHWESTERN CP | NWE | 0.96 | 0.98 | 17.24% | Thursday | AMC |
UNIVL ELECTRS | UEIC | 0.7 | 0.91 | 2.17% | Thursday | AMC |
CA RESOURCES CP | CRC | -1.52 | -2 | -4.79% | Thursday | AMC |
CATCHMARK TB TR | CTT | -0.11 | -0.08 | 36.36% | Thursday | AMC |
GRAND CANYON ED | LOPE | 0.98 | 0.81 | 13.56% | Thursday | AMC |
AMBER ROAD INC | AMBR | -0.14 | -0.24 | 27.78% | Thursday | AMC |
COHU INC | COHU | 0.04 | 0.08 | 50.00% | Thursday | AMC |
IMPINJ INC | PI | 0.09 | N/A | -66.67% | Thursday | AMC |
GRPO SUPERV-ADR | SUPV | 0.39 | N/A | 8.11% | Thursday | AMC |
TRUECAR INC | TRUE | -0.13 | -0.26 | 30.77% | Thursday | AMC |
INTRICON CORP | IIN | -0.04 | 0.19 | -18.75% | Thursday | AMC |
MARCHEX INC | MCHX | -0.07 | -0.02 | 0.00% | Thursday | AMC |
NAVIGATORS GRP | NAVG | 0.62 | 0.67 | -11.95% | Thursday | AMC |
TREND MICRO INC | TMICY | N/A | 0.25 | -2.70% | Thursday | AMC |
REXFORD IND RTY | REXR | 0.23 | 0.21 | 4.76% | Thursday | AMC |
WASHINGTON REIT | WRE | 0.44 | 0.46 | 2.27% | Thursday | AMC |
NU SKIN ENTERP | NUS | 0.8 | 0.62 | 30.49% | Thursday | AMC |
VEECO INSTRS-DE | VECO | -0.03 | -0.09 | 46.43% | Thursday | AMC |
GLOBANT SA | GLOB | 0.29 | 0.24 | -6.90% | Thursday | AMC |
TELSTRA CRP-ADR | TLSYY | N/A | N/A | N/A | Thursday | N/A |
CENOVUS ENERGY | CVE | -0.05 | -0.4 | -214.29% | Thursday | N/A |
SHIRE PLC-ADR | SHPG | 3.25 | 2.97 | -0.31% | Thursday | N/A |
CVR REFINING LP | CVRR | -0.09 | -0.83 | -59.26% | Thursday | N/A |
TRANSCDA CORP | TRP | 0.73 | 0.48 | 22.92% | Thursday | N/A |
GOLD FIELDS-ADR | GFI | N/A | 0.02 | N/A | Thursday | N/A |
CAPGEMINI SA | CGEMY | N/A | N/A | N/A | Thursday | N/A |
VALEO SA-ADR | VLEEY | N/A | N/A | N/A | Thursday | N/A |
NESTLE S A REG | NSRGY | N/A | N/A | N/A | Thursday | N/A |
CAMPBELL SOUP | CPB | 0.88 | 0.87 | 5.26% | Friday | BTO |
SPECTRA ENERGY | SE | 0.33 | 0.28 | 19.23% | Friday | BTO |
DEERE & CO | DE | 0.51 | 0.8 | 150.00% | Friday | BTO |
FLUOR CORP-NEW | FLR | 0.79 | 0.68 | 29.89% | Friday | BTO |
MOODYS CORP | MCO | 1.12 | 1.09 | 13.56% | Friday | BTO |
V F CORP | VFC | 0.98 | 0.95 | -0.87% | Friday | BTO |
SMUCKER JM | SJM | 2 | 1.76 | 5.67% | Friday | BTO |
GOL LINHAS-ADR | GOL | -0.12 | -0.9 | 100.00% | Friday | BTO |
GASLOG LTD | GLOG | 0.05 | -0.02 | 66.67% | Friday | BTO |
PIONEER EGY SVC | PES | -0.31 | -0.25 | 12.12% | Friday | BTO |
PORTLAND GEN EL | POR | 0.64 | 0.57 | -9.52% | Friday | BTO |
ESSILOR INTL SA | ESLOY | N/A | N/A | N/A | Friday | BTO |
SPECTRA EGY PTR | SEP | 0.8 | 1.05 | -1.30% | Friday | BTO |
WABCO HOLDINGS | WBC | 1.44 | 1.43 | 4.76% | Friday | BTO |
AARONS INC | AAN | 0.45 | 0.41 | 6.38% | Friday | BTO |
NATL HEALTH INV | NHI | 1.26 | 1.17 | -1.60% | Friday | BTO |
RUTHS HOSPITLTY | RUTH | 0.29 | 0.26 | 11.11% | Friday | BTO |
MATERION CORP | MTRN | 0.33 | 0.36 | 31.43% | Friday | BTO |
GIBRALTAR INDUS | ROCK | 0.25 | 0.29 | 10.00% | Friday | BTO |
ASTRONICS CORP | ATRO | 0.43 | 0.53 | -8.89% | Friday | BTO |
REWALK ROBOTICS | RWLK | -0.42 | -0.62 | -3.51% | Friday | BTO |
MONOTYPE IMAGNG | TYPE | 0.12 | 0.25 | -8.33% | Friday | BTO |
ENBRIDGE INC | ENB | 0.42 | 0.43 | 2.86% | Friday | BTO |
CONTROLADORA VL | VLRS | 0.28 | 0.38 | 37.84% | Friday | BTO |
AEGON N V | AEG | N/A | 0.2 | N/A | Friday | BTO |
SEGRO PLC REIT | SEGXF | N/A | N/A | N/A | Friday | BTO |
LIFEPOINT HOSP | LPNT | 1.07 | 1.11 | 11.90% | Friday | BTO |
BLOOMIN BRANDS | BLMN | 0.32 | 0.3 | 0.00% | Friday | BTO |
BARNES GRP | B | 0.64 | 0.6 | 5.97% | Friday | BTO |
COOPER TIRE | CTB | 0.93 | 1.04 | 2.97% | Friday | BTO |
IMMUNOGEN INC | IMGN | -0.38 | -0.38 | -21.05% | Friday | BTO |
GRANITE CONSTRU | GVA | 0.53 | 0.72 | -2.13% | Friday | AMC |
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The bulk of the Q4 earnings season is now behind us, with results from 358 S&P 500 members, or 71.6% of the index’s total membership, already out. With another 53 index members on deck to report results next week, we will have seen results from more than 80% of the index’s members by then.
This earnings season has turned out to be good one. Not only is growth on track to be the highest in two years, but total earnings for the quarter are also on track to be a new quarterly record.
Please recall that earnings growth turned positive only in 2016 Q3, having declined in each of the preceding 5 quarters, as the chart below of year-over-year earnings growth for the S&P 500 index shows.
Importantly, the positive Q4 growth isn’t a result of easy comparisons, but actually a function of strong gains in actual earnings. In fact, the overall tally of Q4 earnings for the S&P 500 index is on track to reach an all-time record for the index, surpassing the previous record achieved in 2014 Q4. The chart below shows the quarterly earnings totals for index, contrasting the highlighted Q4 tally with actual results from the last 8 quarters and expected tallies in the coming 4 quarters.
As you can see, this record isn’t expected to last very long, with growth expected to ramp up notably in the coming quarters.
One other positive for this earnings season is the relatively modest negative revisions to current-quarter (2017 Q1) estimates; they have come down, but not by as much as has historically been the case. The chart below shows evolution of Q1 estimates since the start of the period.
Q4 Scorecard (as of February 10, 2017)
We now have Q4 results from 358 S&P 500 members, or 71.6% of the index’s total membership. With 53 index members on deck to report results next week, we will have seen Q4 results from 80.2% of the index’s total membership by the end of next week. The notable reports this week include Cisco (CSCO - Free Report) , Deere & Co. (DE - Free Report) , Pepsi (PEP - Free Report) , AIG (AIG - Free Report) and others.
Total earnings for these 358 index members are up +6.1% on +4.6% higher revenues, with 69% beating EPS estimates and 54.7% coming ahead of top-line expectations.
The table below provides the current Q4 scorecard
The charts below provide a comparison of the results thus far with what we have seen from this same group of 358 S&P 500 members in other recent periods.
As you can see, the Q4 growth pace is notably tracking above what we had seen from the same group of 358 index members in other recent periods. But positive surprises (right-hand chart above) are tracking on the low side relative to historical periods, particularly on the earnings front. The 69% proportion of Q4 companies beating EPS estimates compares to 75.1% in the preceding quarter, 74.1% as the 4-quarter average and 72.4% as the 12-quarter average. Positive revenue surprises are tracking below what we had seen from the same group of companies in Q3, but are roughly in-line with historical periods.
The chart below compares the proportion of companies reporting Q4 results that are beating both EPS and revenue estimates with what this same group of companies had reported in other recent periods.
Standout Sectors
Sectors with strong growth and better than expected results (earnings & revenues) include the Finance, Construction, Technology, Utilities, And Business Services. Positive surprises for all of these sectors are tracking above the index level.
Finance: With results from 79.9% of the sector’s market cap in the S&P 500 index already out, total earnings for the sector are up +11.8% from the same period last year on +5% higher revenues, with +73.3% beating EPS estimates and +56% beating top-line estimates.
This is better growth performance than we have seen from the sector in other recent periods, as the comparison charts below show. Please note that positive surprises are as hard to come by in the Finance sector as they are elsewhere.
Strong Finance sector growth is a big driver of the aggregate growth performance for the S&P 500 index as a whole. Excluding the Finance sector, the Q4 growth pace still compares favorably with other recent periods, but a lot less so, as the right-hand chart below shows.
Technology: For the Technology sector, we now have Q4 results from 88.6% of the sector’s total market cap. Total earnings for these companies are up +8.2% from the same period last year on +6% higher revenues, with 71.4% beating EPS estimates and 71.4% beating revenue estimates.
This is better earnings growth than we have seen from this same group of Tech companies in Q3 or the preceding four quarters, but is about in-line with the 12-quarter average. Revenue growth, on the other hand, is tracking above historical periods. The revenue outperformance is visible in terms of positive surprises as well, with the proportion of Tech sector positive surprises notably tracking above Q3, the 4-quarter and 12-quarter averages, as you can see in the right-hand side chart. Earnings surprises (green bards in the right-hand chart) are tracking below historical periods, as is the case with other sectors as well.
Q4 Expectations As a Whole
For Q4 as a whole, combining the actual results from the 358 S&P 500 members that have reported with estimates for the still-to-come 142 companies, total earnings are expected to be up +7.5% from the same period last year on +3.9% higher revenues. This would follow the +3.7% growth in Q3 earnings on +2.2% higher revenues, the first instance of positive earnings growth for the index after five quarters of back-to-back declines. Comparisons for the Energy sector, a big driver of the earnings recession, turn positive in Q4, with the sector’s earnings growth turning positive for the first time after 8 quarters of declines.
The chart below shows the Q3 earnings growth contrasted with declines in the preceding 5 quarters. As you can see in the chart below, the growth pace is expected to ramp up in 2017.
The table below shows the summary picture Q4 contrasted with what was actually achieved in the preceding quarter.
For a complete analysis of the Q4 earnings season, please check out our weekly Earnings Trends report - Positive Earnings Picture.
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here >>>
Here is a list of the 380 companies reporting this week, including 53 S&P 500 members.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on CSCO - FREE
Get the latest research report on AIG - FREE
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Get the latest research report on PEP - FREE