Are we there yet? The status of the profit, buyback, and valuation cycles

Presented by

Philip Lawlor, Managing Director, Market Research at Wilshire

About this talk

Join Philip Lawlor, Managing Director, Market Research at Wilshire for a 30-minute webinar that examines key market navigation drivers and discussion points facing investment decision-makers today. 1. Market EPS estimates continue to be revised lower, however 2024 is forecast to see a strong recovery in EPS growth. What confidence can be attached to the view that the trough of the earnings cycle is in sight? 2. A key feature of U.S. market dynamics over the last 10 years has been the scale of buybacks driven by the technology sector. Buybacks are showing signs of a structural reversal. Are there any sectors capable of taking up the tech sector buyback leadership baton? Importantly, a deterioration in buybacks has large implications for long-term shareholder return projections. 3. After witnessing a significant derating for most of 2022, markets have seen PE valuations expand since October. However, a key question is whether the U.S. valuation premium has peaked? Does the recent move resemble the pattern of other bear market rallies?

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