The earnings season crunch continues, and among companies scheduled to report earnings tomorrow are Eli Lilly and Co. (NYSE: LLY), Dow Chemical Co. (NYSE: DOW), and US Steel Corp. (NYSE: X). Here is a quick peek at each of them.
Eli Lilly hasn't missed quarterly earnings expectations in the past three years. When it reported third-quarter 2007 results back in October, its earnings per share of 90 cents beat the consensus estimate of analysts polled by Thomson Financial by seven cents, as well as the actual 80 cents per share in the same period of the previous year. For the current quarter, analysts expect earnings of 89 cents per share, or $3.54 per share for the full year. That's up from $3.18 in 2006.
But Eli Lilly's 8.3% earnings per share growth forecast for the next year is less than the industry average. The analysts' consensus recommendation has been to hold Eli Lilly for the past six months. Shares have fallen recently to about two bucks above the 52-week low of $49.09 back in November.
For drug company news that could influence the earnings results, see BloggingStocks' Eli Lilly coverage.
Dow Chemical missed earnings expectations in only one quarter out of the past five. It was the third-quarter 2007 earnings of 84 cents per share that fell short of the 90 cents analysts surveyed by Thomson Financial had expected. It was also less than the 98 cents actual earnings per share in the same period of 2006. For the current quarter, analysts expect only 80 cents per share, compared to 98 cents actual in the same quarter a year ago. For the full year, they expect $3.72 per share, down from $4.25 in 2006.
Dow Chemical's earnings per share growth forecast for this year is -7.7%, but for the next three to five years its is 44.4%, much better than the industry average and the S&P 500. The consensus recommendation from the analysts returned to buy Dow Chemical after being hold at the end of 2007. The share price has climbed back up about five bucks from the 52-week low of $33.01 last week.
See also last week's fourth-quarter results for EI DuPont de Nemours & Co. (NYSE: DD).
US Steel missed earnings expectations in only one quarter out of the past nine. When it reported third-quarter 2007 results back in October, the $2.50 earnings per share missed the $2.63 per share expected by analysts surveyed by Thomson Financial, as well as the actual $3.59 per share in the same period of the previous year. For the fourth quarter, analysts expect only $2.19 per share, or $9.69 per share for the full year. That's down from $11.55 in 2006.
US Steel's 33.7% earnings per share growth forecast for the next three to five years is less than the industry average but better than the S&P 500. The analysts' consensus recommendation is to buy US Steel. Shares peaked just over $120 in the past quarter, but are now trading below $110.
For volatility and other news that could influence the earnings results, see BloggingStocks' US Steel coverage.
Google's plan for netbook PCs moves higher into the clouds
Closing Bell: Stock bulls and dollar death (DDRX,GMCR, PEET, SBUX, EBAY, CI, TECD)
So long peak oil, here comes peak uranium
