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Stock impact report

Earnings forecasts will still be 'too high' after first quarter washout: Morning Brief [Yahoo! Finance News]

Shake Shack, Inc. Class A (SHAK) 
Last shake shack, inc. class a earnings: 2/24 04:05 pm Check Earnings Report
Tuesday, April 21, 2020Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.SubscribePrepare for more quarters of bad newsCompanies comprising around 15% of the S&P 500’s market cap have announced their first quarter results.According to analysis from Credit Suisse, earnings are missing analysts’ estimates by 6.3% in aggregate. But asMorning Brief readers already knowanalysts’ estimates haven’t been revisedOne of the major reasons why analysts have been reluctant to change is that many companies have eithersuspended or withdrawn guidance“80 S&P 500 companies have now suspended guidance amid uncertainty around COVID-19,” Bank of America’s Savita Subramanian observed on Monday. Regarding what that means for analysts, she added, “Estimate dispersionAnd when analysts don’t have guidance, they tend to be conservative when it comes to forecasting bad news.“Our work indicates that in the absence of guidance, analysts will not fully mark down earnings estim Show less Read more
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