The banking sector was a prime target for many investors to start the year thanks to the prospect of multiple interest rate hikes, and a widening spread between long and short term rates. But with the Brexit and global market uncertainty, those hopes have been dashed, along with dreams of fat bank profits.
This could make the coming earnings season a very dicey one for banking stocks, and especially their outlooks. Let’s take a look at three bellwethers, and how their reports are shaping up for the impending earnings season:
The first company we are taking a look at is US Bancorp (USB - Free Report) which reports before the bell on Friday. This company has a Zacks Rank #4 (sell) and a negative earnings ESP, largely thanks to the sluggish rate environment. However, USB hasn’t missed estimates in five years, so expectations are definitely high heading into their results.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The banking sector was a prime target for many investors to start the year thanks to the prospect of multiple interest rate hikes, and a widening spread between long and short term rates. But with the Brexit and global market uncertainty, those hopes have been dashed, along with dreams of fat bank profits.
This could make the coming earnings season a very dicey one for banking stocks, and especially their outlooks. Let’s take a look at three bellwethers, and how their reports are shaping up for the impending earnings season:
The first company we are taking a look at is US Bancorp (USB - Free Report) which reports before the bell on Friday. This company has a Zacks Rank #4 (sell) and a negative earnings ESP, largely thanks to the sluggish rate environment. However, USB hasn’t missed estimates in five years, so expectations are definitely high heading into their results.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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