Newspaper article THE JOURNAL RECORD

Profits by State Firms Expected to Rise 37%

Newspaper article THE JOURNAL RECORD

Profits by State Firms Expected to Rise 37%

Article excerpt

Wall Street analysts project 1991 profits for 19 major Oklahoma-based publicly-held corporations will continue their upward trend, increasing 37 percent to an average of $1.30 per share from an estimated 95 cents per share average for 1990.

This year's estimated profits would be 36 percent above the 70 cents per share earned in 1989. Last year's tally slipped five percent below 74 cents per share in 1988.

Since this survey was last conducted six months ago, 1990 profit estimates were lowered for 11 firms and raised for two. Overall, the average change forecasted in profitability has declined 31 percent over the last six months.

Only Helmerich & Payne and Noble Affiliates estimates were revised upward from the last survey, with Helmerich & Payne up 9 percent and Noble up 2 percent. The sharpest declines from the last survey were in Devon Energy, Hadson Corp. and Pre-paid Legal Services, which at first were projected to be profitable and now are expected to be in the red.

For 1991, only the operations of American First are projected to be in the red. Six firms expected to show losses in 1990 are projected to be profitable in 1991 - Beard Oil, Devon Energy, Hadson, Parker Drilling, Pre-paid and Professional Investors.

Each of the six economic sectors represented in the analysis is projected to rise in both 1990 and 1991, with the financial services group posting the largest relative change.

Nationally, as reflected in the Standard & Poors 500, a 7 percent increase is estimated this year, up from 3 percent in our earlier survey.

For 1991, profits for major U.S. corporations are also projected to be 7 percent higher.

These earnings estimates are compiled by Lynch, Jones and Ryan, a New York-based securities brokerage firm which publishes the Institutional Broker's Estimate System, a unique service which monitors estimates on companies of interest to institutional investors. …

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