We've Got New Earnings Expectations, Pick Up Points for a Range of Holdings
We’re also sharing published reporting dates as we venture into the December quarter earnings season.
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As we get ready for the December quarter earnings season to kick up later this, we are sharing an updated table of calendar consensus EPS expectations for the TheStreet Pro Portfolio’s holdings.
We’re also including expected reporting dates published by the respective companies. As you can see below, it’s not quite a complete list but that gives us another reason to update the table as we move through the current earnings season.
In the same table, we’re also sharing updated price levels, which in our view, would make for good pick-up points for existing Portfolio positions. In sharing these figures, we’d remind you these are indications and are subject to change depending on market dynamics, market and individual stock technicals, and new data.
Sharing Some Observations
In looking at the consensus EPS indications in the table below, several holdings have seen their EPS revised higher:
Costco’s COST consensus EPS for 2024 was lifted to $17 from $16.75 following its recent quarterly earnings report. For this year, expectations land at $18.65, up from $18.55.
Following Elastic’s ESTC blowout earnings report late last year, its 2024 EPS lands at $1.62, which suggests the consensus forecast for this year at $1.75 could prove conservative.
For Marvell MRVL, consensus 2024 EPS has risen to $1.51 from $1.41, and prospects for 2025 now stand at 2.71, up from $2.52
The market expects Microsoft’s MSFT EPS to rise to $13.79 this year, up from prior expectations of $13.65.
Morgan Stanley MS also saw positive revisions with 2024 now at $7.39 in EPS, up from $7.32. The company received a bigger revision for 2025 to $8.12 from $7.86.
We also saw big revisions for both 2024 and 2025 at Nvidia NVDA. Consensus calendar EPS now sits at $2.95 for 2024 and 2025 is pegged at $4.45, up from $4.18.
While there was no change in expectations for 2024, 2025 EPS for United Rentals URI was moved up to $47.07 from $46.90.
Across all of our holdings, the only position that saw its calendar 2025 consensus EPS forecast revised lower was Applied Materials AMAT. That outlook has been reduced to $9.17, which as you can see in the table below offers modest growth compared to calendar 2024. As we move through the December quarter earnings season, we’ll be mindful of Big Tech spending on AI and data center as well as capital spending comments from Taiwan Semiconductor TSM, Samsung, Intel INTC and others.
One other item we’re keeping on our radar as it relates to AMAT:
Over the weekend, in an Economist interview, outgoing U.S. Secretary of Commerce Gina Raimondo shared that all targets should be hit for deploying CHIPs Act funding. Recent awards of $6 billion under the program went to Samsung and Texas Instruments as well as $407 million to Amkor Technology. A separate piece in the Economist called out the need for continued spending not only to re-shore U.S. chip capacity but to grow it further. Reasons cited for this included national security, jobs and other items.
As President-Elect Trump returns to the White House, we’ll be listening for comments for additional spending on what has been a bipartisan topic.
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At the time of publication, TheStreet Pro Portfolio was long COST, ESTC, MRVL, MSFT, MS, NVDA, URI and AMAT.
