Equity Outlook: Still Positive, Risks Increasing Modestly
Summary Even as stock price volatility has increased in 2018, the U. S. equity outlook remains fundamentally sound. Strength in corporate profitability is broad-based, with nine of the eleven sectors in the…
Equity Outlook: Fundamentally Sound, Valuations Still Key
On January 26, 2018 the S&P 500 closed at a record high, and up 7% for the year to date. On February 5, the S&P 500 was down 1% for the year-to-date, reflecting a…
Equity Outlook: Tax Reform an Earnings Wildcard in 2018
Summary: Robust Earnings Environment. The combination of favorable bottom-up factors (sales growth, margin expansion) and a solid economic environment (synchronized global growth) has created a healthy earnings environment.…
August 2017 Equity Outlook: Tough Comparisons in 2018
Executive Summary Earnings Growth Set to Slow in 2018. S&P margins and earnings are now at record levels, while sales growth has accelerated in recent quarters. Likely reflecting tough comparisons,…
Equity Outlook: US Equities on Track for More Gains in 2017
Executive Summary Accelerating Earnings Growth. With earnings reporting season about to begin, Q2 2017 S&P 500 operating earnings are forecast to rise 19% from year-ago levels, an acceleration from the 13%…
Global Earnings Synthesis: Earnings Growth Likely to Determine the Direction of Stock Prices in 2017
Executive Summary 2017 Estimates Still Seem Overly Optimistic. While the initial estimate of 2015 earnings was below the initial estimate of 2014 earnings, and the initial 2016 estimate was below the…
Sector and Regional Strategy: Monthly Update January 2017
Executive Summary Regional Strategy: Upgrade UK; Remain Positive on Russia. This month the UK is being upgraded, largely reflecting a continued improvement in earnings momentum. In contrast to Russia —…
Extractive Company Values: Environmental & Social Issues as Indicators of Strategy Execution Potential
Below is an executive summary of our in-depth report. Click here for an extract of that report. The full version is available to clients of Cornerstone Capital Group. …
