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Evercore (EVR) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Evercore (EVR - Free Report) closed at $132.22, marking a -1.9% move from the previous day. This change lagged the S&P 500's daily gain of 0.33%.

Prior to today's trading, shares of the investment bank had lost 6.52% over the past month. This has lagged the Finance sector's gain of 0.52% and the S&P 500's gain of 4.77% in that time.

EVR will be looking to display strength as it nears its next earnings release. On that day, EVR is projected to report earnings of $2.63 per share, which would represent year-over-year growth of 117.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $541.36 million, up 25.01% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $10.66 per share and revenue of $2.49 billion, which would represent changes of +10.81% and +9.5%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for EVR. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.67% higher. EVR is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at its valuation, EVR is holding a Forward P/E ratio of 12.84. For comparison, its industry has an average Forward P/E of 13.46, which means EVR is trading at a discount to the group.

The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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