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Western Alliance (WAL) Dips More Than Broader Markets: What You Should Know
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Western Alliance (WAL - Free Report) closed the most recent trading day at $31.57, moving -0.85% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the bank holding company had gained 6.6% in the past month. In that same time, the Finance sector gained 0.95%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Western Alliance as it approaches its next earnings report date. This is expected to be April 18, 2023. The company is expected to report EPS of $1.47, down 33.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $660.13 million, up 18.77% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.23 per share and revenue of $2.7 billion. These totals would mark changes of -15.15% and +5.34%, respectively, from last year.
Any recent changes to analyst estimates for Western Alliance should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 20.37% lower. Western Alliance is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Western Alliance currently has a Forward P/E ratio of 3.87. This represents a discount compared to its industry's average Forward P/E of 6.78.
Investors should also note that WAL has a PEG ratio of 0.38 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - West was holding an average PEG ratio of 0.49 at yesterday's closing price.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Western Alliance (WAL) Dips More Than Broader Markets: What You Should Know
Western Alliance (WAL - Free Report) closed the most recent trading day at $31.57, moving -0.85% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the bank holding company had gained 6.6% in the past month. In that same time, the Finance sector gained 0.95%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Western Alliance as it approaches its next earnings report date. This is expected to be April 18, 2023. The company is expected to report EPS of $1.47, down 33.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $660.13 million, up 18.77% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.23 per share and revenue of $2.7 billion. These totals would mark changes of -15.15% and +5.34%, respectively, from last year.
Any recent changes to analyst estimates for Western Alliance should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 20.37% lower. Western Alliance is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Western Alliance currently has a Forward P/E ratio of 3.87. This represents a discount compared to its industry's average Forward P/E of 6.78.
Investors should also note that WAL has a PEG ratio of 0.38 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - West was holding an average PEG ratio of 0.49 at yesterday's closing price.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.