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Bank of America (BAC) Stock Sinks As Market Gains: What You Should Know
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Bank of America (BAC - Free Report) closed at $28.92 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's 0.22% gain on the day. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq gained 0.08%.
Heading into today, shares of the nation's second-largest bank had gained 27.98% over the past month, outpacing the Finance sector's gain of 10.52% and the S&P 500's gain of 9.27% in that time.
Wall Street will be looking for positivity from BAC as it approaches its next earnings report date. This is expected to be April 15, 2019. In that report, analysts expect BAC to post earnings of $0.66 per share. This would mark year-over-year growth of 6.45%. Meanwhile, our latest consensus estimate is calling for revenue of $23.56 billion, up 1.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.84 per share and revenue of $94.08 billion, which would represent changes of +8.81% and +3.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BAC. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. BAC currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BAC is holding a Forward P/E ratio of 10.24. Its industry sports an average Forward P/E of 10.34, so we one might conclude that BAC is trading at a discount comparatively.
Investors should also note that BAC has a PEG ratio of 1.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BAC's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bank of America (BAC) Stock Sinks As Market Gains: What You Should Know
Bank of America (BAC - Free Report) closed at $28.92 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's 0.22% gain on the day. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq gained 0.08%.
Heading into today, shares of the nation's second-largest bank had gained 27.98% over the past month, outpacing the Finance sector's gain of 10.52% and the S&P 500's gain of 9.27% in that time.
Wall Street will be looking for positivity from BAC as it approaches its next earnings report date. This is expected to be April 15, 2019. In that report, analysts expect BAC to post earnings of $0.66 per share. This would mark year-over-year growth of 6.45%. Meanwhile, our latest consensus estimate is calling for revenue of $23.56 billion, up 1.89% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.84 per share and revenue of $94.08 billion, which would represent changes of +8.81% and +3.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BAC. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% higher. BAC currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BAC is holding a Forward P/E ratio of 10.24. Its industry sports an average Forward P/E of 10.34, so we one might conclude that BAC is trading at a discount comparatively.
Investors should also note that BAC has a PEG ratio of 1.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BAC's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.