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Here's Why U.S. Bancorp (USB) Fell More Than Broader Market
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U.S. Bancorp (USB - Free Report) ended the recent trading session at $32.26, demonstrating a -0.77% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.63%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 0.63%.
The company's stock has dropped by 7.51% in the past month, falling short of the Finance sector's loss of 2.46% and the S&P 500's loss of 2.35%.
Investors will be eagerly watching for the performance of U.S. Bancorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 18, 2023. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 11.86% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.02 billion, indicating a 11.47% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.36 per share and revenue of $28.25 billion, which would represent changes of -2.02% and +16.83%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for U.S. Bancorp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.8% lower. As of now, U.S. Bancorp holds a Zacks Rank of #4 (Sell).
Investors should also note U.S. Bancorp's current valuation metrics, including its Forward P/E ratio of 7.46. This denotes a discount relative to the industry's average Forward P/E of 8.02.
Also, we should mention that USB has a PEG ratio of 1.49. 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. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.3.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Here's Why U.S. Bancorp (USB) Fell More Than Broader Market
U.S. Bancorp (USB - Free Report) ended the recent trading session at $32.26, demonstrating a -0.77% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.63%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 0.63%.
The company's stock has dropped by 7.51% in the past month, falling short of the Finance sector's loss of 2.46% and the S&P 500's loss of 2.35%.
Investors will be eagerly watching for the performance of U.S. Bancorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 18, 2023. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 11.86% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $7.02 billion, indicating a 11.47% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.36 per share and revenue of $28.25 billion, which would represent changes of -2.02% and +16.83%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for U.S. Bancorp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.8% lower. As of now, U.S. Bancorp holds a Zacks Rank of #4 (Sell).
Investors should also note U.S. Bancorp's current valuation metrics, including its Forward P/E ratio of 7.46. This denotes a discount relative to the industry's average Forward P/E of 8.02.
Also, we should mention that USB has a PEG ratio of 1.49. 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. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.3.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.