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Western Alliance (WAL) Dips More Than Broader Markets: What You Should Know
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Western Alliance (WAL - Free Report) closed at $36.60 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the bank holding company had lost 0.8% over the past month. This has lagged the Finance sector's gain of 3.38% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from Western Alliance as it approaches its next earnings release. The company is expected to report EPS of $2.02, down 15.48% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $660.8 million, up 5.19% from the year-ago period.
WAL's full-year Zacks Consensus Estimates are calling for earnings of $8.23 per share and revenue of $2.62 billion. These results would represent year-over-year changes of -15.15% and +2.22%, respectively.
Investors might also notice recent changes to analyst estimates for Western Alliance. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Western Alliance is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Western Alliance has a Forward P/E ratio of 4.51 right now. For comparison, its industry has an average Forward P/E of 7.08, which means Western Alliance is trading at a discount to the group.
Also, we should mention that WAL has a PEG ratio of 0.44. 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 - West industry currently had an average PEG ratio of 0.6 as of yesterday's close.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Western Alliance (WAL) Dips More Than Broader Markets: What You Should Know
Western Alliance (WAL - Free Report) closed at $36.60 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the bank holding company had lost 0.8% over the past month. This has lagged the Finance sector's gain of 3.38% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from Western Alliance as it approaches its next earnings release. The company is expected to report EPS of $2.02, down 15.48% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $660.8 million, up 5.19% from the year-ago period.
WAL's full-year Zacks Consensus Estimates are calling for earnings of $8.23 per share and revenue of $2.62 billion. These results would represent year-over-year changes of -15.15% and +2.22%, respectively.
Investors might also notice recent changes to analyst estimates for Western Alliance. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 remained stagnant. Western Alliance is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Western Alliance has a Forward P/E ratio of 4.51 right now. For comparison, its industry has an average Forward P/E of 7.08, which means Western Alliance is trading at a discount to the group.
Also, we should mention that WAL has a PEG ratio of 0.44. 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 - West industry currently had an average PEG ratio of 0.6 as of yesterday's close.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.