Analysts downgrade earnings amid deepening business pessimism

Sun, 01 Sep 2019

By Jenny Ruth Sept. 2 (BusinessDesk) - Despite a solid earnings reporting season from NZX-listed companies, analysts are pulling back their forecasts for the coming year as businesses generally remain in a deep funk. In late July, analysts were expecting median earnings growth for the 2020 financial year of 5.5 percent but they've cut that back to 4.2 percent now, says Mark Lister, head of wealth research at Craigs Investment Partners. “Before the reporting season, 73 percent of NZX 50 companies were forecast to grow earnings in 2020 b...

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