It’s the busiest week in earnings and these stocks could see a blow up
Some companies that are about to report earnings could see a slide in their share prices. With the busiest week of earnings season underway, investors are certainly in for a hectic time. Nearly a third of the companies in the S & P 500 are scheduled to report their earnings this week. All in all, first-quarter earnings have mostly skewed to the upside so far. About a fifth of the names in the S & P 500 have already reported, according to FactSet. Of these, about 77% have posted beats on earnings as of Tuesday. But that doesn’t mean the trend is due to continue. CNBC Pro screened the S & P 500 for companies that could see their stocks tumble after earnings. To be included in the table, the tickers had to meet the following criteria: Have at least 15 EPS estimate revisions to the downside in the past three months Consensus EPS estimate down at least 10% in the past three and six months Consensus price target is down over the past three and six months Take a look at the names below: Analysts have revised Bristol-Myers Squibb ‘s earnings estimates to the downside 19 times in the past three months. Consensus price targets suggest downside of more than 8% for the company’s stock in the next three months, and shares could slide 23% in the next six months. The pharmaceuticals firm is next set to report its earnings before the market opens this Thursday . Redburn Atlantic downgraded shares of Bristol-Myers Squibb to a neutral rating from buy in February, citing an increasingly uncertain top-line growth. “With limited near-term material pipeline updates increasing challenges to threading the needle on value accretive deals, we downgrade to Neutral,” analyst Steve Chesney wrote. Shares of Bristol-Myers Squibb have slipped 4.5% this year. Industrial technology company Rockwell Automation has had its earnings revised downward 29 times in the past three months. Average analyst price targets show that the stock could slide nearly 6% in the next three months, and drop by almost 7% in six months. Shares of Rockwell Automation are down 11% this year. The company is due to report its fiscal second-quarter earnings before the market opens on Tuesday, May 7 . Biopharmaceutical firm Gilead Sciences , due to post first-quarter results this Thursday, has had its earnings estimates revised 18 times to the downside in the past three months. The stock has already plunged 17% this year, but analysts see another 4% drop in the next three months and a roughly 5% slide in the next six months. The final name on the list was gold miner Newmont , which is set to post its first-quarter results before Thursday’s opening bell . The company has seen 22 downward revisions to its earnings in the last three months. Shares of Newmont are 8.9% lower this year, and consensus shows that the stock could lose another 9% in the next three months and roughly 13% in the next six.
Investment strategy,Stock markets,S&P 500 Index,Bristol-Myers Squibb Co,Rockwell Automation Inc,Gilead Sciences Inc,Newmont Corporation,business news
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