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Bank of America (BAC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Bank of America (BAC - Free Report) closed at $27.97, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, lost 0.32%.
Prior to today's trading, shares of the nation's second-largest bank had gained 1.3% over the past month. This has lagged the Finance sector's gain of 1.88% and the S&P 500's gain of 3.07% in that time.
Investors will be hoping for strength from BAC as it approaches its next earnings release, which is expected to be July 17, 2019. The company is expected to report EPS of $0.71, up 12.7% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.22 billion, up 2.68% from the year-ago period.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $2.85 per share and revenue of $92.59 billion. These results would represent year-over-year changes of +9.2% and +1.47%, respectively.
Any recent changes to analyst estimates for BAC should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.04% lower. BAC is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, BAC is currently trading at a Forward P/E ratio of 9.87. This represents a discount compared to its industry's average Forward P/E of 10.82.
Meanwhile, BAC's PEG ratio is currently 1.1. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.32 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bank of America (BAC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Bank of America (BAC - Free Report) closed at $27.97, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, lost 0.32%.
Prior to today's trading, shares of the nation's second-largest bank had gained 1.3% over the past month. This has lagged the Finance sector's gain of 1.88% and the S&P 500's gain of 3.07% in that time.
Investors will be hoping for strength from BAC as it approaches its next earnings release, which is expected to be July 17, 2019. The company is expected to report EPS of $0.71, up 12.7% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.22 billion, up 2.68% from the year-ago period.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $2.85 per share and revenue of $92.59 billion. These results would represent year-over-year changes of +9.2% and +1.47%, respectively.
Any recent changes to analyst estimates for BAC should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.04% lower. BAC is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, BAC is currently trading at a Forward P/E ratio of 9.87. This represents a discount compared to its industry's average Forward P/E of 10.82.
Meanwhile, BAC's PEG ratio is currently 1.1. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.32 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.