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The July-September 2024 quarter (Q2FY25) corporate earnings delivered an unwelcome surprise, compelling analysts to reassess forward earnings estimates for the companies under their purview.
The outcome? A wave of downgrades to forward earnings per share (EPS) forecasts for FY25 and FY26. In simpler terms, the anticipated EPS for most top-listed companies in these financial years now lags analysts’ pre-earnings season expectations.
Brokerages routinely revise forward earnings estimates following quarterly results and recalibrate price targets based on the projected trajectory of company earnings over the next two years. Usually, earnings downgrades result in lowered price targets, while upgrades
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