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Recovery has been sluggish, with 2018 sales and earnings cut in half so far.
RAIL EARNINGS CUT IN 1924.; Roads of Nation Estimated to Have Made 3.09 Per Cent. on Investment.
Archives|RAIL EARNINGS CUT IN 1924.; Roads of Nation Estimated to Have Made 3.09 Per Cent. on Investment.
To meet the deadline, Fitch says, the banks are likely to hold onto future earnings, cut shareholder dividends, wind down exposure to risky investments like underperforming real estate portfolios and tap investors for new cash.
But sluggish sales in the United States, the company's biggest market, as well as a stronger yen, which erodes the value of overseas earnings, cut into its bottom line.
It is true that major pro ducers have shown recent de clines in shipments and after tax earnings; cut production at some facilities; delayed the construction of other plants; and watched the prices of their shares on the New York Stock Exchange slump this year to levels that generally have been less than 10 times the earnings per share.
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So, presto, one year's earnings were cut while the next year's were raised.
Disney's earnings were cut $126 million, or 3 cents a share, by revamping and impairment costs.
Even if earnings were cut in half and prices stayed where they are, that would be a multiple of 18.
Will today's earnings call cut them yet again?
Merrill, which has also had earnings estimates cut at Goldman Sachs, fell 1%.
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