Thursday, September 8, 2011

S&P 500 Sectors: Forward & 2012 Earnings

Today’s charts show the percentage changes in the S&P 500’s forward earnings and 2012 consensus estimates since the beginning of the year for the 10 sectors. Keep in mind that as we approach the end of the year, forward earnings will converge to equal the 2012 estimate at the end of this year. Through the week of September 1, forward earnings for the sectors are mostly up year-to-date as follows: Energy (33.7%), Materials (21.4), Industrials (15.8), Information Technology (15.5), Consumer Discretionary (10.6), Consumer Staples (6.2), Health Care (5.1), Financials (4.2), Utilities (-0.9), and Telecommunication Services (-1.0).
A similar pattern can be seen in the 2012 estimates. However, estimates for Financials (down 6.3% ytd) and Telecommunication Services (down 9.8% ytd) have been falling since the start of this year.

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