In the spreadsheet above I have tracked the earnings estimates for the top weighted Russell 2000 small cap stocks. I have columns for what the 2020 and 2021 estimates were on 4/14/2020 and today.
The column under the date 6/14/2020 has a letter that represents the movement in 2020 earnings estimates since the most recent print (4/14/2020). “U” means 2020 estimates are UP in the last 60 days. “D” means 2020 estimates are DOWN in the last 60 days. “S” means 2020 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 so far is that estimates have remained surprisingly stable in the last 60 days. More estimates came DOWN for 2020 in the past 60 days than went UP 21:7 DOWN:UP ratio. The rest remained the same.
The cumulative 2020 earnings power of these 30 stocks flat-lined by -1.09% in the past 60 days. HOWEVER, the 2021 estimates actually ROSE by +1.66% in the past 2 months.
