Are you an investor looking for insights on potential earnings disappointments in the stock market? Look no further than Extreme Investor Network for unique and valuable information to help you make informed decisions.
Wall Street analysts have been lowering their third-quarter growth estimates for months now, with companies in the S&P 500 projected to see a 4.2% increase in earnings compared to the same quarter last year. While nearly 80% of companies have beaten earnings estimates so far, there are still some names that could disappoint.
For example, Valero Energy has seen its earnings per share estimates slashed by 80.3% over the past three months and 85% over the past six months. Despite this, the stock is favored by 60% of Wall Street analysts, including Morgan Stanley analyst Joe Laetsch, who has an overweight rating and a $165 price target on Valero. Enphase Energy is another stock to watch, with analysts cutting their earnings estimates by nearly 39% over the past three months and 35.5% over the past six months. RBC Capital Markets analyst Christopher Dendrinos recently downgraded Enphase to sector perform, citing concerns about slower growth next year.
Tesla, set to report earnings on Oct. 23, faces a high bar to overcome after disappointing third-quarter deliveries and failing to impress investors with its robotaxi unveiling. Analysts have cut their earnings per share estimates on Tesla by 24.1% over the past three months and 30.8% over the past six months, with Wells Fargo reiterating an underweight rating on the stock.
Stay ahead of potential earnings disappointments and make well-informed investment decisions with Extreme Investor Network. Our unique insights and analysis will help you navigate the stock market with confidence.