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First Bancorp (FBP) Gains As Market Dips: What You Should Know
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In the latest trading session, First Bancorp (FBP - Free Report) closed at $14.67, marking a +0.27% move from the previous day. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the holding company for FirstBank Puerto Rico had gained 6.55% over the past month. This has outpaced the Finance sector's loss of 2.26% and the S&P 500's loss of 3.29% in that time.
First Bancorp will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.40, up 8.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $231.97 million, up 8.05% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $913.22 million, which would represent changes of +15% and +7.3%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for First Bancorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% higher. First Bancorp is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, First Bancorp currently has a Forward P/E ratio of 9.12. This valuation marks a discount compared to its industry's average Forward P/E of 10.04.
Investors should also note that FBP has a PEG ratio of 0.91 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Southeast was holding an average PEG ratio of 0.91 at yesterday's closing price.
The Banks - Southeast industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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First Bancorp (FBP) Gains As Market Dips: What You Should Know
In the latest trading session, First Bancorp (FBP - Free Report) closed at $14.67, marking a +0.27% move from the previous day. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the holding company for FirstBank Puerto Rico had gained 6.55% over the past month. This has outpaced the Finance sector's loss of 2.26% and the S&P 500's loss of 3.29% in that time.
First Bancorp will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.40, up 8.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $231.97 million, up 8.05% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $913.22 million, which would represent changes of +15% and +7.3%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for First Bancorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.63% higher. First Bancorp is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, First Bancorp currently has a Forward P/E ratio of 9.12. This valuation marks a discount compared to its industry's average Forward P/E of 10.04.
Investors should also note that FBP has a PEG ratio of 0.91 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Southeast was holding an average PEG ratio of 0.91 at yesterday's closing price.
The Banks - Southeast industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.