Citi: Right Now Analysts Are Slashing Earnings More Often Than Increasing Them
A higher percentage of earnings revisions are hiking (rather than reducing) earnings forecasts right now, as compared with a month earlier:
Citi:
Upward revisions as a % of total revisions for the S&P 500 were up thus far in July from June with six of the ten sectors showing an increase.
But... note in the table below that only 46.13% of revisions as of July 10th were upward, which means that the majority of analyst earnings revisions continue to be downward adjustments to earnings. Analysts are still reducing earnings forecasts more often than increasing them.
Read more: http://www.businessinsider.com/citi-2010-7#ixzz0u5Tvdc9I
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