We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Truist Financial Corporation (TFC) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Truist Financial Corporation (TFC - Free Report) closed at $29.78 in the latest trading session, marking a +1.74% move from the prior day. This move outpaced the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the company had lost 6.99% over the past month. This has lagged the Finance sector's loss of 4.09% and the S&P 500's loss of 1.27% 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 October 19, 2023. On that day, Truist Financial Corporation is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 33.87%. Our most recent consensus estimate is calling for quarterly revenue of $5.68 billion, down 2.83% from the year-ago period.
TFC's full-year Zacks Consensus Estimates are calling for earnings of $3.76 per share and revenue of $23.38 billion. These results would represent year-over-year changes of -24.19% and +1.48%, respectively.
Investors might also notice recent changes to analyst estimates for Truist Financial Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.67% lower within the past month. Truist Financial Corporation is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Truist Financial Corporation has a Forward P/E ratio of 7.78 right now. This represents a discount compared to its industry's average Forward P/E of 8.36.
We can also see that TFC currently has a PEG ratio of 1.74. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.45 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Truist Financial Corporation (TFC) Outpaces Stock Market Gains: What You Should Know
Truist Financial Corporation (TFC - Free Report) closed at $29.78 in the latest trading session, marking a +1.74% move from the prior day. This move outpaced the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.
Prior to today's trading, shares of the company had lost 6.99% over the past month. This has lagged the Finance sector's loss of 4.09% and the S&P 500's loss of 1.27% 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 October 19, 2023. On that day, Truist Financial Corporation is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 33.87%. Our most recent consensus estimate is calling for quarterly revenue of $5.68 billion, down 2.83% from the year-ago period.
TFC's full-year Zacks Consensus Estimates are calling for earnings of $3.76 per share and revenue of $23.38 billion. These results would represent year-over-year changes of -24.19% and +1.48%, respectively.
Investors might also notice recent changes to analyst estimates for Truist Financial Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.67% lower within the past month. Truist Financial Corporation is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Truist Financial Corporation has a Forward P/E ratio of 7.78 right now. This represents a discount compared to its industry's average Forward P/E of 8.36.
We can also see that TFC currently has a PEG ratio of 1.74. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.45 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.