Fourth quarter earnings season is here and, as usual, it is being kicked off by the big banks and a handful of other bellwether companies, including transports and healthcare.
This is always a look back into the previous year, but this year’s Q4 reports will be important as many companies will be giving 2020 guidance for the first time.
Will earnings rebound after 2019’s lackluster growth?
Is the economy heating up, or slowing down?
We may get the answer to these questions, and more, this week.
The Big Bank Stocks: Hidden Gems?
But first, the big banks will lead off the earnings fun. The group mostly has a good earnings surprise track record with more beats than misses.
After a rocky 2018, when the Fed was raising rates, many of the bank stocks took off in 2019.
Are the Fed rate cuts already priced in or do the stocks have more fuel in the tank?
Who Has the Best Big Bank Earnings Chart?
1. JPMorgan (JPM - Free Report) has beat 3 quarters in a row. Shares have busted out to new 5-year highs and continue to grind higher. JPMorgan is considered to be at the top of the class among the big banks. Will it hold onto the crown this quarter?
2. Citigroup (C - Free Report) has only missed once in 5 years. Shares are on the verge of another break out after gaining 36% in the last year. Will this earnings report put them over the top?
3. Wells Fargo (WFC - Free Report) is the only black sheep amongst the large banks. It has new leadership but is still in the turnaround mode. It’s coming off a miss last quarter and the shares have lagged. Is it a hidden value play?
4. Bank of America (BAC - Free Report) has put together a great earnings streak, as it’s last miss was in 2016. These shares have also busted out to new 5-year highs. Is it finally time for the banks to shine?
5. PNC Financial (PNC - Free Report) has beat 3 quarters in a row. Shares are up 31% in the last year and are testing the 5-year highs. The regional banks have been overlooked by investors. Is it too late to get in?
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