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Truist Financial Corporation (TFC) Dips More Than Broader Markets: What You Should Know
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Truist Financial Corporation (TFC - Free Report) closed at $33.25 in the latest trading session, marking a -1.74% move from the prior day. This change lagged the S&P 500's 0.21% loss on the day. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Prior to today's trading, shares of the company had gained 2.73% over the past month. This has lagged the Finance sector's gain of 3.67% and the S&P 500's gain of 7.71% in that time.
Truist Financial Corporation will be looking to display strength as it nears its next earnings release, which is expected to be April 20, 2023. In that report, analysts expect Truist Financial Corporation to post earnings of $1.13 per share. This would mark a year-over-year decline of 8.13%. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 14.31% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.61 per share and revenue of $24.87 billion. These totals would mark changes of -7.06% and +7.98%, respectively, from last year.
Any recent changes to analyst estimates for Truist Financial Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.58% lower. Truist Financial Corporation is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 7.34. For comparison, its industry has an average Forward P/E of 7.99, which means Truist Financial Corporation is trading at a discount to the group.
Meanwhile, TFC's PEG ratio is currently 1.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.25 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TFC in the coming trading sessions, be sure to utilize Zacks.com.
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Truist Financial Corporation (TFC) Dips More Than Broader Markets: What You Should Know
Truist Financial Corporation (TFC - Free Report) closed at $33.25 in the latest trading session, marking a -1.74% move from the prior day. This change lagged the S&P 500's 0.21% loss on the day. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Prior to today's trading, shares of the company had gained 2.73% over the past month. This has lagged the Finance sector's gain of 3.67% and the S&P 500's gain of 7.71% in that time.
Truist Financial Corporation will be looking to display strength as it nears its next earnings release, which is expected to be April 20, 2023. In that report, analysts expect Truist Financial Corporation to post earnings of $1.13 per share. This would mark a year-over-year decline of 8.13%. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 14.31% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.61 per share and revenue of $24.87 billion. These totals would mark changes of -7.06% and +7.98%, respectively, from last year.
Any recent changes to analyst estimates for Truist Financial Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.58% lower. Truist Financial Corporation is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 7.34. For comparison, its industry has an average Forward P/E of 7.99, which means Truist Financial Corporation is trading at a discount to the group.
Meanwhile, TFC's PEG ratio is currently 1.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.25 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TFC in the coming trading sessions, be sure to utilize Zacks.com.