Dell: Estimates Heading South; Earnings Thursday

Street estimates on Dell ( DELL) are ratcheting lower ahead of the company announcement after the close Thursday of results for its fiscal fourth quarter ended January. You can see the trend in the consensus numbers measured by Thomson . Sixty days ago, the consensus was for Q4 EPS of 32 cents a share; 30 days ago, the figure was down to 31 cents. A week ago, the Street had dropped to 28 cents. Today, the number is down to 27 cents. The consensus revenue estimate is $14.38 billion, which would be down 10.1% versus a year earlier. Given last week’s disappointing earnings report from Hewlett-Packard (HPQ) , the prospects for good news seem low. Two analysts sliced their numbers this morning. Bernstein Research analyst Toni Sacconaghi this morning reduced his calendar 2009 PC unit forecast to down 7.3%, from up 4.9%. He now sees industry revenue declining 16%, driven by a 9% decline in ASPS, as mix shifts to lower-cost models. To reflect that gloomier view, he trimmed his FY Q4 ... (link)