(Thanks to David Aurelio and Tajinder Dhillon of Refinitiv IBES for providing the above data.)
Here is what struck me about the above data:
1.) The expected 2020 EPS growth for the Financial sector improved right around the time in July ’20 when bank earnings and other financial earnings began to get reported. The expected 2020 EPS growth rate improved from -36% to -32% by the end of July ’20 but has remained stagnant since.
2.) 2020’s expected revenue decline improved slightly as well from -8% to -7%, and also has remained stable for the rest of August and September ’20.
3.) 2021 expected EPS growth was offsetting the expected 2020 decline up until July 24th, and then, from that week forward, the expected 2020 decline in EPS was greater than the expected growth rate of 2021 EPS for the remainder of August and September ’20.
4.) Same with expected