Chevron Earnings: Here's What Wall Street & Main Street Expect

Chevron Corporation CVX is scheduled to report its first quarter financial results on Friday, before the market opens.

According to Estimize, and as most investors may anticipate, both the Street and the crowd expect marked year-over-year and quarter-over-quarter declines in earnings. Experts model consensus EPS of $0.74 on revenue of $22.302 billion. The crowd projects EPS of $0.78 on revenue of $20.984.

In the first quarter of 2014, the company reported earnings of $2.36 per share; in the latest quarter, $1.85 per share.

The graph below shows Chevron’s history of estimates compared to its actual earnings.

It should be noted that, in the past three quarters, the company comfortably beat estimates.

The chart below illustrates the evolution of expectations over the quarter.

While the crowd’s expectations were pretty much flat, with a small bump on Monday, the Street’s weren’t. Experts’ EPS estimates fell steeply over January, from $1.48 to $0.70, and then remained around those levels.

Analyst Ratings

A few weeks ago, Goldman Sachs initiated coverage of Chevron with a Neutral rating and a $110 price target.

Previously, Oppenheimer had downgraded the stock to Perform, and JP Morgan had reiterated a Neutral rating and a $111 price target.