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

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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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