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Surging Earnings Estimates Signal Good News for Bank of America (BAC)
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Bank of America Corporation (BAC - Free Report) is one of the world's leading financial institutions that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BAC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Bank of America could be a solid choice for investors.
Current Quarter Estimates for BAC
In the past 30 days, five estimates have gone higher for Bank of America while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing 49 cents a share 30 days ago, to 57 cents today, a move of 16.3%.
Current Year Estimates for BAC
Meanwhile, Bank of America’ current year figures are also looking quite promising, with eight estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.15 a share 30 days ago, to $2.43 today, an increase of 13%.
The stock has also started to move higher lately, adding 6.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Surging Earnings Estimates Signal Good News for Bank of America (BAC)
Bank of America Corporation (BAC - Free Report) is one of the world's leading financial institutions that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BAC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Bank of America could be a solid choice for investors.
Current Quarter Estimates for BAC
In the past 30 days, five estimates have gone higher for Bank of America while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing 49 cents a share 30 days ago, to 57 cents today, a move of 16.3%.
Current Year Estimates for BAC
Meanwhile, Bank of America’ current year figures are also looking quite promising, with eight estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.15 a share 30 days ago, to $2.43 today, an increase of 13%.
Bank of America Corporation Price and Consensus
Bank of America Corporation Price and Consensus | Bank of America Corporation Quote
Bottom Line
The stock has also started to move higher lately, adding 6.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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