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Truist Financial Corporation (TFC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $27.19, marking a -1.59% move from the previous day. This change lagged the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the company had lost 10.58% over the past month, lagging the Finance sector's loss of 4.93% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from Truist Financial Corporation as it approaches its next earnings report date. This 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 2.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.67 per share and revenue of $23.36 billion. These totals would mark changes of -26.01% and +1.43%, respectively, from last 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 a result, we can interpret positive estimate revisions as a good sign for 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 has moved 0.07% lower. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Truist Financial Corporation is currently trading at a Forward P/E ratio of 7.53. This valuation marks a discount compared to its industry's average Forward P/E of 7.85.
It is also worth noting that TFC currently has a PEG ratio of 1.69. 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 1.21 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Truist Financial Corporation (TFC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $27.19, marking a -1.59% move from the previous day. This change lagged the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the company had lost 10.58% over the past month, lagging the Finance sector's loss of 4.93% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from Truist Financial Corporation as it approaches its next earnings report date. This 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 2.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.67 per share and revenue of $23.36 billion. These totals would mark changes of -26.01% and +1.43%, respectively, from last 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 a result, we can interpret positive estimate revisions as a good sign for 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 has moved 0.07% lower. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Truist Financial Corporation is currently trading at a Forward P/E ratio of 7.53. This valuation marks a discount compared to its industry's average Forward P/E of 7.85.
It is also worth noting that TFC currently has a PEG ratio of 1.69. 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 1.21 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.