In the spreadsheet above I have tracked the earnings estimates for the top 30 weighted Nasdaq stocks. I have columns for what the 2021 estimates were on 11/3/2020 and today.
The column under the date 1/3/2021 has a letter that represents the movement in 2021 earnings estimates since the most recent print (11/3/2020). “U” means 2021 estimates are UP in the last 60 days. “D” means 2021 estimates are DOWN in the last 60 days. “S” means 2021 estimates have remained the SAME in the last 60 days. The column entitled “1yr Target Est” is the Wall Street consensus 12 month price target for each stock.
What this table is telling us is that estimates have moved up (in terms of number of companies – not aggregate earnings). More estimates went UP for 2021 in the past 60 days than came DOWN – Up:Down – 22:8 ratio.
The cumulative 2021 earnings power of these 30 stocks was revised DOWN by -1.5% in the past 60 days.
