'19 ROB is down 0.1% to 15.3%
Valuations are a bit high and earnings growth for the whole market is expected to be ~10%. Revenue growth is expected to be ~5%.
Those strike me as pretty optimistic but the market is trading as though those numbers can be bumped higher. Also note that the changes in analyst numbers were pretty small over the last 4 months while the S&P 500 rose 4.5%. The market has been (and is) expecting more than the analysts.
This earnings season will either preserve the earnings-are-great-and-growing narrative or crack it. Until then, it’s small-ball.
Have a great weekend, see youMonday
.-Mike
