Five companies in the S&P 500 have reported earnings for the third calendar quarter of 2019, as of Sept. 20. Of those, three have reported earnings that beat Wall Street expectations, according to S&P Global Market Intelligence's analyst polling.
Collectively, the five constituents have reported an EPS surprise of 1.0% for the third quarter.
The blended growth rate for the S&P 500, which reflects all sectors on an aggregate level, for the third calendar quarter of 2019 is down 3.6% as of Sept. 20. Sectors leading the growth trend include financials with 3.0%, healthcare with 1.9% and industrials with 1.3%.
Companies that are expected to report the largest earnings growth for the third quarter include Welltower Inc. with 343.9%, CF Industries Holdings Inc. with 260.5%, and SBA Communications Corp. with 151.2%.
Companies with the most upward revisions for the quarter include Best Buy Co. Inc. with 19 upward revisions, Seagate Technology PLC with 17 upward revisions, and Hewlett Packard Enterprise Co. with 15 upward revisions.
Meanwhile, companies expected to report the largest percentage change in EPS for the third quarter include Vornado Realty Trust with 44.8%, Welltower Inc. with 13.8%, and Seagate Technology PLC with 12.3%.
Companies with the greatest potential upside based on S&P Capital IQ consensus target prices as of Sept. 20 include Nektar Therapeutics with 101.9%, DXC Technology Co. with 66.4%, and Concho Resources Inc. with 56.5%.
FedEx Corp. reported earnings of $3.05 per share, below the consensus estimate of $3.15 per share. Earnings fell by 11.8% year over year. The company reported revenue of $17.05 billion, matching the consensus estimate. Revenue remained flat, year over year. The share price closed at $148.78, plunging 14.1% since earnings were disclosed on Sept. 17.





