by Chris Becker
The earnings season is upon us! A majority of the ASX200 will report end of year earnings in the coming weeks and all the brokers and investment houses are still essentially bullish on the outcome, even if the price movement in aggregate hasn’t been spectacular – only 2.5% appreciation (ex-dividends) in the last 12 months.
MorganStanley have earnings per share (EPS) guidance growth at approximately 13%, which sounds like a convergence maybe in order, but have rightly put the macro outlook first and foremost above the micro analysis.