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Truist Financial Corporation (TFC) Outpaces Stock Market Gains: What You Should Know
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Truist Financial Corporation (TFC - Free Report) closed the most recent trading day at $32.40, moving +1.41% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Prior to today's trading, shares of the company had gained 14.64% over the past month. This has outpaced the Finance sector's gain of 5.12% and the S&P 500's gain of 5.41% in that time.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release, which is expected to be July 20, 2023. On that day, Truist Financial Corporation is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.11 billion, up 8.13% from the year-ago period.
TFC's full-year Zacks Consensus Estimates are calling for earnings of $4.30 per share and revenue of $24.38 billion. These results would represent year-over-year changes of -13.31% and +5.83%, respectively.
Investors should also note any recent changes to analyst estimates for Truist Financial Corporation. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.14% higher within the past month. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Truist Financial Corporation has a Forward P/E ratio of 7.43 right now. Its industry sports an average Forward P/E of 8, so we one might conclude that Truist Financial Corporation is trading at a discount comparatively.
Also, we should mention that TFC has a PEG ratio of 1.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.17 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Truist Financial Corporation (TFC) Outpaces Stock Market Gains: What You Should Know
Truist Financial Corporation (TFC - Free Report) closed the most recent trading day at $32.40, moving +1.41% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Prior to today's trading, shares of the company had gained 14.64% over the past month. This has outpaced the Finance sector's gain of 5.12% and the S&P 500's gain of 5.41% in that time.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release, which is expected to be July 20, 2023. On that day, Truist Financial Corporation is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.11 billion, up 8.13% from the year-ago period.
TFC's full-year Zacks Consensus Estimates are calling for earnings of $4.30 per share and revenue of $24.38 billion. These results would represent year-over-year changes of -13.31% and +5.83%, respectively.
Investors should also note any recent changes to analyst estimates for Truist Financial Corporation. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.14% higher within the past month. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Truist Financial Corporation has a Forward P/E ratio of 7.43 right now. Its industry sports an average Forward P/E of 8, so we one might conclude that Truist Financial Corporation is trading at a discount comparatively.
Also, we should mention that TFC has a PEG ratio of 1.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.17 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.