Citigroup and Sabre are among those left undervalued despite strong first-quarter results.
Against a backdrop of a battered stock market, corporate earnings results among the U.S.-listed stocks covered by Morningstar for the first quarter were on par with 2021’s fourth quarter.
Of the 868 U.S.-listed companies on Morningstar’s coverage list, 37% beat Wall Street’s earnings per share estimates by 10% or more. That’s nearly equal to the fourth quarter but well below the 56% that beat earnings by that much a year ago. Meanwhile, the number of companies missing by that same amount was essentially flat from the final quarter of 2021 at 14%.
