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Bank of America (BAC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Bank of America (BAC - Free Report) closed at $39.97, marking a +0.55% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%.
Coming into today, shares of the nation's second-largest bank had lost 6.76% in the past month. In that same time, the Finance sector lost 0.8%, while the S&P 500 gained 1.75%.
BAC will be looking to display strength as it nears its next earnings release. In that report, analysts expect BAC to post earnings of $0.75 per share. This would mark year-over-year growth of 102.7%. Our most recent consensus estimate is calling for quarterly revenue of $21.92 billion, down 1.82% from the year-ago period.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $3.12 per share and revenue of $88.19 billion. These results would represent year-over-year changes of +66.84% and +3.11%, respectively.
Any recent changes to analyst estimates for BAC should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.2% higher within the past month. BAC is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BAC is holding a Forward P/E ratio of 12.76. This represents a premium compared to its industry's average Forward P/E of 11.63.
We can also see that BAC currently has a PEG ratio of 1.82. 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 1.37 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 133, putting it in the bottom 48% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Bank of America (BAC - Free Report) closed at $39.97, marking a +0.55% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%.
Coming into today, shares of the nation's second-largest bank had lost 6.76% in the past month. In that same time, the Finance sector lost 0.8%, while the S&P 500 gained 1.75%.
BAC will be looking to display strength as it nears its next earnings release. In that report, analysts expect BAC to post earnings of $0.75 per share. This would mark year-over-year growth of 102.7%. Our most recent consensus estimate is calling for quarterly revenue of $21.92 billion, down 1.82% from the year-ago period.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $3.12 per share and revenue of $88.19 billion. These results would represent year-over-year changes of +66.84% and +3.11%, respectively.
Any recent changes to analyst estimates for BAC should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.2% higher within the past month. BAC is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BAC is holding a Forward P/E ratio of 12.76. This represents a premium compared to its industry's average Forward P/E of 11.63.
We can also see that BAC currently has a PEG ratio of 1.82. 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 1.37 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 133, putting it in the bottom 48% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.