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The Bank of New York Mellon Corporation (BK) Stock Moves -0.22%: What You Should Know
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In the latest trading session, The Bank of New York Mellon Corporation (BK - Free Report) closed at $40.69, marking a -0.22% move from the previous day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.
Coming into today, shares of the company had lost 3.23% in the past month. In that same time, the Finance sector lost 2.32%, while the S&P 500 gained 1.03%.
Investors will be hoping for strength from The Bank of New York Mellon Corporation as it approaches its next earnings release, which is expected to be July 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 5.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.38 billion, up 2.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $17.51 billion. These totals would mark changes of +3.05% and +6.93%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for The Bank of New York Mellon Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.45% lower. The Bank of New York Mellon Corporation is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, The Bank of New York Mellon Corporation is currently trading at a Forward P/E ratio of 8.62. This represents a premium compared to its industry's average Forward P/E of 7.47.
Investors should also note that BK has a PEG ratio of 1.08 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. BK's industry had an average PEG ratio of 1.11 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The Bank of New York Mellon Corporation (BK) Stock Moves -0.22%: What You Should Know
In the latest trading session, The Bank of New York Mellon Corporation (BK - Free Report) closed at $40.69, marking a -0.22% move from the previous day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.
Coming into today, shares of the company had lost 3.23% in the past month. In that same time, the Finance sector lost 2.32%, while the S&P 500 gained 1.03%.
Investors will be hoping for strength from The Bank of New York Mellon Corporation as it approaches its next earnings release, which is expected to be July 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 5.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.38 billion, up 2.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $17.51 billion. These totals would mark changes of +3.05% and +6.93%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for The Bank of New York Mellon Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.45% lower. The Bank of New York Mellon Corporation is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, The Bank of New York Mellon Corporation is currently trading at a Forward P/E ratio of 8.62. This represents a premium compared to its industry's average Forward P/E of 7.47.
Investors should also note that BK has a PEG ratio of 1.08 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. BK's industry had an average PEG ratio of 1.11 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.