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Truist Financial Corporation (TFC) Rises But Trails Market: What Investors Should Know
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In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $27.32, marking a +0.15% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.18% for the day. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.6%.
The the stock of company has fallen by 6.8% in the past month, lagging the Finance sector's loss of 4.4% and the S&P 500's loss of 5.17%.
The investment community will be closely monitoring the performance of Truist Financial Corporation in its forthcoming earnings report. The company is scheduled to release its earnings on October 19, 2023. It is anticipated that the company will report an EPS of $0.81, marking a 34.68% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.67 billion, down 3.02% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.67 per share and a revenue of $23.38 billion, representing changes of -26.01% and +1.48%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Truist Financial Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Truist Financial Corporation currently has a Forward P/E ratio of 7.43. For comparison, its industry has an average Forward P/E of 7.67, which means Truist Financial Corporation is trading at a discount to the group.
One should further note that TFC currently holds 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. TFC's industry had an average PEG ratio of 1.22 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 190, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Truist Financial Corporation (TFC) Rises But Trails Market: What Investors Should Know
In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $27.32, marking a +0.15% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.18% for the day. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.6%.
The the stock of company has fallen by 6.8% in the past month, lagging the Finance sector's loss of 4.4% and the S&P 500's loss of 5.17%.
The investment community will be closely monitoring the performance of Truist Financial Corporation in its forthcoming earnings report. The company is scheduled to release its earnings on October 19, 2023. It is anticipated that the company will report an EPS of $0.81, marking a 34.68% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.67 billion, down 3.02% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.67 per share and a revenue of $23.38 billion, representing changes of -26.01% and +1.48%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Truist Financial Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Truist Financial Corporation currently has a Forward P/E ratio of 7.43. For comparison, its industry has an average Forward P/E of 7.67, which means Truist Financial Corporation is trading at a discount to the group.
One should further note that TFC currently holds 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. TFC's industry had an average PEG ratio of 1.22 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 190, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.