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The Bank of New York Mellon Corporation (BK) Gains As Market Dips: What You Should Know
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The Bank of New York Mellon Corporation (BK - Free Report) closed the most recent trading day at $50.88, moving +0.08% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, added 0.84%.
Heading into today, shares of the company had gained 2.15% over the past month, outpacing the Finance sector's loss of 2.03% and the S&P 500's loss of 2% 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. This is expected to be April 18, 2023. The company is expected to report EPS of $1.08, up 25.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.34 billion, up 10.5% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.84 per share and revenue of $17.61 billion, which would represent changes of +5.45% and +7.51%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for The Bank of New York Mellon Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 2.74% higher. The Bank of New York Mellon Corporation is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, The Bank of New York Mellon Corporation is holding a Forward P/E ratio of 10.52. This valuation marks a premium compared to its industry's average Forward P/E of 9.72.
Investors should also note that BK has a PEG ratio of 1.31 right now. 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. BK's industry had an average PEG ratio of 1.44 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 109, which puts it in the top 44% 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 BK in the coming trading sessions, be sure to utilize Zacks.com.
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The Bank of New York Mellon Corporation (BK) Gains As Market Dips: What You Should Know
The Bank of New York Mellon Corporation (BK - Free Report) closed the most recent trading day at $50.88, moving +0.08% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, added 0.84%.
Heading into today, shares of the company had gained 2.15% over the past month, outpacing the Finance sector's loss of 2.03% and the S&P 500's loss of 2% 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. This is expected to be April 18, 2023. The company is expected to report EPS of $1.08, up 25.58% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.34 billion, up 10.5% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.84 per share and revenue of $17.61 billion, which would represent changes of +5.45% and +7.51%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for The Bank of New York Mellon Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 2.74% higher. The Bank of New York Mellon Corporation is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, The Bank of New York Mellon Corporation is holding a Forward P/E ratio of 10.52. This valuation marks a premium compared to its industry's average Forward P/E of 9.72.
Investors should also note that BK has a PEG ratio of 1.31 right now. 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. BK's industry had an average PEG ratio of 1.44 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 109, which puts it in the top 44% 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 BK in the coming trading sessions, be sure to utilize Zacks.com.