Earnings Expectations for the Week of November 7

Many of the S&P 500 have already reported results for the most recent quarter. But lots of earnings reports are scheduled for this week. Among those reporting are General Motors GM, as well as the first of a wave of results from retailers: Macy's M, Kohl's KSS and Nordstrom JWN. Entertainment giant Disney DIS will also share its results this week. Recovering Big Three automaker General Motors is expected to report Wednesday that its third-quarter earnings came to $0.96 per share. And revenues are expected to total $36.7 billion. So far, the full-year forecast calls for per-share earnings 39.5% higher than a year ago with revenues up 11.3%. Note that analysts have underestimated per-share earnings in the past three quarters, since GM's reemergence from bankruptcy. EPS are predicted to grow 12.4% over the next five years. But despite a more than 5% rise in the past week, the share price has drifted downward since early this year and is now about 36% lower year to date. The stock has underperformed that of competitor Ford F since the beginning of the year. Analysts are looking for iconic department store operator Macy's, scheduled to report Wednesday, to post per-share earnings that have doubled year over year, or $0.16. And for the third quarter during which the retailer saw strong same-store sales, revenues are expected to total $5.9 billion. That would be an increase of 4.7% from a year ago. Analysts so far predict that full-year EPS will be up more than 20% and sales more than 5% higher. Note that consensus EPS estimates have been better than expected in recent quarters. The stock has more than recovered from its sell-off in August, rising more than 18% in the past month and recently hitting a 52-week high. Over the past six months, the stock has outperformed competitors JCPenney JCP and Kohl's. Kohl's was one of the few retailers whose October same-store sales growth was better than the analysts' forecast. When the Wisconsin-based department store operator posts its third-quarter results on Thursday, it is expected to offer up $0.78 per share earnings on $4.4 billion in revenues. A year ago, earnings were $0.63 per share and revenues totaled $4.2 billion. In most recent quarters, Kohl's earnings have come within a penny or three of consensus estimates. The company has a dividend yield of 1.8%. The share price is up about 33% since reaching a 52-week low back in September and is again in the neighborhood of its 52-week high. Over the past six months, the stock also has outperformed JCPenney's, as well as the broader markets. The consensus forecast for Nordstrom, which also has a dividend yield of 1.8%, calls for $0.58 per share earnings in Thursday's report. That would be up a nickel per share from the third quarter a year ago. Revenues are expected to have jumped 13.3% to $2.4 billion for the quarter in which the luxury retailer saw strong same-store sales. Analysts have underestimated Nordstrom's per-share earnings in three of the past four quarters. The company has a healthy return on equity of 35.2%. The share price has pulled back more than 5% from a recent 52-week high but is still more than 20% higher year to date. Over the past six months, the stock has outperformed competitor Saks SKS. During the three months that ended in September, Walt Disney announced a deal to bring James Cameron's Avatar to Disney parks and it also named a new president of Disney Consumer Products. On Thursday, the Burbank, Calif.-based company is expected to post $0.54 per share earnings for the fiscal fourth quarter, on revenues of $10.4 billion. That compares to earnings of $0.45 per share and $9.7 billion in revenues a year ago. The full-year forecast calls for EPS up 16.9% and revenues up 7.2%. The long-term EPS growth forecast is 13.8% and the dividend yield is 1.2%. The share price has risen more than 23% from a 52-week low in early October. But the stock has underperformed the broader markets since the beginning of the year. Other companies expected to report year-over-year EPS growth this week include Advance Auto Parts AAP, Dish Network DISH, homebuilder DR Horton DHI, Green Mountain Coffee Roasters GMCR, Priceline.com PCLN, Ralph Lauren RL, Rockwell Automation ROK and Viacom (NYSE: VIA-B). Lower per-share earnings are anticipated from video game publisher Activision Blizzard ATVI, Cisco Systems CSCO and hamburger chain operator Wendy's WEN.