2015 Estimates For S&P500 Earnings & Price Levels

In the December 15, 2014 edition of Barron’s, the cover story is titled “Outlook 2015:  Stick With the Bull.”

Included in the story, 10 investment strategists give various forecasts for 2015 including S&P500 profits, S&P500 year-end price targets, GDP growth, and 10-Year Treasury Note Yields.

A couple of excerpts:

The strategists’ 2015 targets for the S&P 500 range from a low of 2100 to a high of 2350, with a mean of 2208, compared with Friday’s close of 2002. Subramanian’s 2015 target is 2200.


BARRON’S SURVEYS a group of prominent market strategists every September and December, to gauge the outlook for stocks, bonds, and the economy in the final months of the current year and in the year ahead. Looking to 2015, the strategists see S&P 500 earnings per share rising a mean 7.5%, to $127, from an expected $118 this year. Most believe that higher earnings will be the market’s chief propellant in the new year.

Industry analysts tend toward more upbeat forecasts than the big-picture thinkers, although the current read on 2015 suggests there isn’t much of a gap.  The analysts have penciled in earnings estimates of $128.80, according to Yardeni Research.

The article also mentions that among the investment strategists, average expected 2015 GDP growth is 3.0%.


I post various economic forecasts because I believe they should be carefully monitored.  However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.


The Special Note summarizes my overall thoughts about our economic situation

SPX at 1993.56 as this post is written