In the spreadsheet above I have tracked the earnings estimates for the Energy Sector ETF (XLE).
The column under the date 8/20/2019 has a letter that represents the movement in 2019 earnings estimates since the most recent print (6/10/2019). “U” means 2019 estimates are UP in the last 71 days. “D” means 2019 estimates are DOWN in the last 71 days. “S” means 2019 estimates have remained the SAME in the last 71 days. The column entitled “1yr Target Est” is the Wall Street consensus 12 month price target for each stock. You can see how it has come up or come down in recent weeks.
What this table is telling us is that estimates have decreased materially in the past 71 days. More estimates came DOWN for 2019 in the past 30 days than went UP – Down:Up – 21:9 ratio. The rest remained the same.
The cumulative 2019 earnings power of these 30 stocks was revised DOWN by -10.8% in the past 71 days.
