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Bank of America (BAC) Gains But Lags Market: What You Should Know
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Bank of America (BAC - Free Report) closed the most recent trading day at $42.94, moving +0.05% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.15%.
Heading into today, shares of the nation's second-largest bank had gained 4.68% over the past month, outpacing the Finance sector's gain of 4.29% and the S&P 500's gain of 0.58% in that time.
Wall Street will be looking for positivity from BAC as it approaches its next earnings report date. On that day, BAC is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 102.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.92 billion, down 1.82% from the year-ago period.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $3.03 per share and revenue of $87.73 billion. These results would represent year-over-year changes of +62.03% and +2.57%, respectively.
Investors might also notice recent changes to analyst estimates for BAC. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. BAC currently has a Zacks Rank of #3 (Hold).
Investors should also note BAC's current valuation metrics, including its Forward P/E ratio of 14.18. This represents a premium compared to its industry's average Forward P/E of 12.75.
Meanwhile, BAC's PEG ratio is currently 2.03. 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 1.52 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
To follow BAC in the coming trading sessions, be sure to utilize Zacks.com.
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Bank of America (BAC) Gains But Lags Market: What You Should Know
Bank of America (BAC - Free Report) closed the most recent trading day at $42.94, moving +0.05% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.15%.
Heading into today, shares of the nation's second-largest bank had gained 4.68% over the past month, outpacing the Finance sector's gain of 4.29% and the S&P 500's gain of 0.58% in that time.
Wall Street will be looking for positivity from BAC as it approaches its next earnings report date. On that day, BAC is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 102.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.92 billion, down 1.82% from the year-ago period.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $3.03 per share and revenue of $87.73 billion. These results would represent year-over-year changes of +62.03% and +2.57%, respectively.
Investors might also notice recent changes to analyst estimates for BAC. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. BAC currently has a Zacks Rank of #3 (Hold).
Investors should also note BAC's current valuation metrics, including its Forward P/E ratio of 14.18. This represents a premium compared to its industry's average Forward P/E of 12.75.
Meanwhile, BAC's PEG ratio is currently 2.03. 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 1.52 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
To follow BAC in the coming trading sessions, be sure to utilize Zacks.com.