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The Bank of New York Mellon Corporation (BK) Dips More Than Broader Markets: What You Should Know
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The Bank of New York Mellon Corporation (BK - Free Report) closed at $50.16 in the latest trading session, marking a -0.54% move from the prior day. This change lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the company had gained 1.96% over the past month. This has outpaced the Finance sector's gain of 0.34% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from The Bank of New York Mellon Corporation as it approaches its next earnings report date. The company is expected to report EPS of $1.08, up 25.58% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.34 billion, up 10.5% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.79 per share and revenue of $17.61 billion. These totals would mark changes of +4.36% and +7.51%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for The Bank of New York Mellon Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.86% higher. The Bank of New York Mellon Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that The Bank of New York Mellon Corporation has a Forward P/E ratio of 10.52 right now. This represents a premium compared to its industry's average Forward P/E of 9.61.
Also, we should mention that BK has a PEG ratio of 1.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional industry currently had an average PEG ratio of 1.46 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The Bank of New York Mellon Corporation (BK) Dips More Than Broader Markets: What You Should Know
The Bank of New York Mellon Corporation (BK - Free Report) closed at $50.16 in the latest trading session, marking a -0.54% move from the prior day. This change lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the company had gained 1.96% over the past month. This has outpaced the Finance sector's gain of 0.34% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from The Bank of New York Mellon Corporation as it approaches its next earnings report date. The company is expected to report EPS of $1.08, up 25.58% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.34 billion, up 10.5% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.79 per share and revenue of $17.61 billion. These totals would mark changes of +4.36% and +7.51%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for The Bank of New York Mellon Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.86% higher. The Bank of New York Mellon Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that The Bank of New York Mellon Corporation has a Forward P/E ratio of 10.52 right now. This represents a premium compared to its industry's average Forward P/E of 9.61.
Also, we should mention that BK has a PEG ratio of 1.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional industry currently had an average PEG ratio of 1.46 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.