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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 $30.44 in the latest trading session, marking a -1.49% move from the prior day. This change lagged the S&P 500's daily loss of 0.42%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the company had lost 5.21% over the past month. This has lagged the Finance sector's loss of 0.81% and the S&P 500's gain of 1.02% in that time.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release. The company is expected to report EPS of $0.82, down 33.87% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.68 billion, down 2.83% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.76 per share and revenue of $23.38 billion, which would represent changes of -24.19% and +1.48%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Truist Financial 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. Truist Financial Corporation is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 8.21. Its industry sports an average Forward P/E of 8.61, so we one might conclude that Truist Financial Corporation is trading at a discount comparatively.
It is also worth noting that TFC currently has a PEG ratio of 1.84. 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 - Major Regional was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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) Dips More Than Broader Markets: What You Should Know
Truist Financial Corporation (TFC - Free Report) closed at $30.44 in the latest trading session, marking a -1.49% move from the prior day. This change lagged the S&P 500's daily loss of 0.42%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the company had lost 5.21% over the past month. This has lagged the Finance sector's loss of 0.81% and the S&P 500's gain of 1.02% in that time.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release. The company is expected to report EPS of $0.82, down 33.87% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.68 billion, down 2.83% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.76 per share and revenue of $23.38 billion, which would represent changes of -24.19% and +1.48%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Truist Financial 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. Truist Financial Corporation is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 8.21. Its industry sports an average Forward P/E of 8.61, so we one might conclude that Truist Financial Corporation is trading at a discount comparatively.
It is also worth noting that TFC currently has a PEG ratio of 1.84. 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 - Major Regional was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.