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Strength Seen in NatWest (NWG): Can Its 10.8% Jump Turn into More Strength?
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NatWest Group (NWG - Free Report) shares soared 10.8% in the last trading session to close at $5.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.8% loss over the past four weeks.
NatWest Group witnessed a rise in share price for the second consecutive day. The U.K.-based bank plans to shutter more than 40 branches to cut costs and align its operations with customer needs, who are increasingly shifting to online and mobile banking. The branches are expected to closed in the first quarter of 2023.
This bank is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of +70.6%. Revenues are expected to be $3.55 billion, down 2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NatWest, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NWG going forward to see if this recent jump can turn into more strength down the road.
NatWest is a member of the Zacks Banks - Foreign industry. One other stock in the same industry, Deutsche Bank (DB - Free Report) , finished the last trading session 8.3% higher at $8.24. DB has returned -15.2% over the past month.
For Deutsche Bank, the consensus EPS estimate for the upcoming report has changed -10% over the past month to $0.40. This represents a change of +135.3% from what the company reported a year ago. Deutsche Bank currently has a Zacks Rank of #4 (Sell).
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Strength Seen in NatWest (NWG): Can Its 10.8% Jump Turn into More Strength?
NatWest Group (NWG - Free Report) shares soared 10.8% in the last trading session to close at $5.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.8% loss over the past four weeks.
NatWest Group witnessed a rise in share price for the second consecutive day. The U.K.-based bank plans to shutter more than 40 branches to cut costs and align its operations with customer needs, who are increasingly shifting to online and mobile banking. The branches are expected to closed in the first quarter of 2023.
This bank is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of +70.6%. Revenues are expected to be $3.55 billion, down 2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For NatWest, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NWG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
NatWest is a member of the Zacks Banks - Foreign industry. One other stock in the same industry, Deutsche Bank (DB - Free Report) , finished the last trading session 8.3% higher at $8.24. DB has returned -15.2% over the past month.
For Deutsche Bank, the consensus EPS estimate for the upcoming report has changed -10% over the past month to $0.40. This represents a change of +135.3% from what the company reported a year ago. Deutsche Bank currently has a Zacks Rank of #4 (Sell).