Expectations for U.S. company earnings are on a slippery slope down Wall Street as the euro-zone crisis deepens and economic data around the world disappoints.
With one week left in the second quarter, it is a good time to measure revisions in earnings estimates for companies in the S&P 500 for the second quarter.
Since the beginning of the quarter, the earnings per share, or EPS, estimate for the S&P 500 has dropped about 2.5 percent, to $25.37 from $26.02, according to FactSet Research Systems Inc.
And since the start of the quarter, the forecasted earnings growth rate for the index has declined to 3.3 percent from 6.3 percent. Nine of the 10 sectors have recorded decreases in earnings growth rates during this period, led to the downside by the energy and financials sectors. The telecom-services sector is the only sector that has witnessed a slight increase in projected earnings growth, according to FactSet's analysis.
We ran a screen and produced a list of 11 notable companies set to report their earnings June 25-29. We have highlighted their expected reporting dates and times, along with analysts' EPS and revenue estimates from Reuters, as well as the stocks' year-to-date performances.
Accenture PLC (NYSE: ACN) is a management-consulting, technology-services, and outsourcing company. The company has a market cap of $39.81 billion. It is expected to report FY 2012 third-quarter EPS of $1 on revenue of $7.17 billion, compared with a profit of 93 cents a share on revenue of $6.72 billion in the year-ago period. Accenture is trading around $57.56 a share. So far this year, the stock has gained 8.13 percent.
Nike Inc. (NYSE: NKE) is engaged in the design, development, and marketing of footwear, apparel, equipment, and accessory products. The company has a market cap of $45.56 billion. It is expected to report FY 2012 fourth-quarter EPS of $1.37 on revenue of $6.52 billion, compared with a profit of $1.24 a share on revenue of $5.77 billion in the year-ago period. Nike is trading around $99.40 a share. So far this year, the stock has gained 3.14 percent.
Tibco Software Inc. (Nasdaq: TIBX) is a provider of middleware and infrastructure software. The company has a market cap of $4.40 billion. It is expected to report FY 2012 second-quarter EPS of 23 cents on revenue of $244.71 million, compared with a profit of 21 cents a share on revenue of $216.42 million in the year-ago period. Tibco Software is trading around $26.69 a share. So far this year, the stock has gained 11.63 percent.
Constellation Brands Inc. (NYSE: STZ) is a wine company. The company has a market cap of $3.66 billion. It is expected to report FY 2013 first-quarter EPS of 39 cents on revenue of $645.5 million, compared with a profit of 39 cents a share on revenue of $635 million in the year-ago period. Constellation Brands is trading around $19.37 a share. So far this year, the stock has lost 6.29 percent.
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