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Truist Financial Corporation (TFC) Stock Moves -0.46%: What You Should Know
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Truist Financial Corporation (TFC - Free Report) closed at $34.86 in the latest trading session, marking a -0.46% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.65%. On the other hand, the Dow registered a loss of 0.49%, and the technology-centric Nasdaq decreased by 0.96%.
The company's shares have seen a decrease of 3.61% over the last month, not keeping up with the Finance sector's gain of 3.96% and the S&P 500's gain of 3.27%.
Investors will be eagerly watching for the performance of Truist Financial Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 22, 2024. The company's upcoming EPS is projected at $0.78, signifying a 28.44% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.65 billion, indicating a 7.48% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.35 per share and a revenue of $22.08 billion, signifying shifts of -6.69% and -5.62%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Truist Financial Corporation. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
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 past month, the Zacks Consensus EPS estimate has moved 1.05% lower. Truist Financial Corporation is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Truist Financial Corporation is currently being traded at a Forward P/E ratio of 10.45. This expresses a discount compared to the average Forward P/E of 10.81 of its industry.
We can also see that TFC currently has a PEG ratio of 1.49. 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 1.53 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Truist Financial Corporation (TFC) Stock Moves -0.46%: What You Should Know
Truist Financial Corporation (TFC - Free Report) closed at $34.86 in the latest trading session, marking a -0.46% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.65%. On the other hand, the Dow registered a loss of 0.49%, and the technology-centric Nasdaq decreased by 0.96%.
The company's shares have seen a decrease of 3.61% over the last month, not keeping up with the Finance sector's gain of 3.96% and the S&P 500's gain of 3.27%.
Investors will be eagerly watching for the performance of Truist Financial Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 22, 2024. The company's upcoming EPS is projected at $0.78, signifying a 28.44% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.65 billion, indicating a 7.48% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.35 per share and a revenue of $22.08 billion, signifying shifts of -6.69% and -5.62%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Truist Financial Corporation. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
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 past month, the Zacks Consensus EPS estimate has moved 1.05% lower. Truist Financial Corporation is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Truist Financial Corporation is currently being traded at a Forward P/E ratio of 10.45. This expresses a discount compared to the average Forward P/E of 10.81 of its industry.
We can also see that TFC currently has a PEG ratio of 1.49. 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 1.53 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.