Banks may struggle to recreate 2019 success
Wall Street analysts are betting the banks can't do it three years in a row.
What they're saying: Analysis from Yardeni Research shows the average expectation is for a 0.4% decline in S&P 500 diversified banks’ 2020 revenue and only a 3.8% increase in earnings.
- Forecasts for the S&P 500 investment banking and brokerage industry are also weak, with calls for revenue to edge up by 1.6% and earnings to rise 4.5% this year.
- Earnings estimates for both banks and investment banks/brokerages have been revised downward in recent months.