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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 the most recent trading day at $42.52, moving -0.51% from the previous trading session. This move lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Prior to today's trading, shares of the company had gained 3.81% over the past month. This has outpaced the Finance sector's gain of 2.29% and lagged the S&P 500's gain of 4.14% 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 July 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 5.22%. Meanwhile, our latest consensus estimate is calling for revenue of $4.38 billion, up 2.9% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $17.53 billion. These totals would mark changes of +3.05% and +7.02%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.37% lower. The Bank of New York Mellon Corporation is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that The Bank of New York Mellon Corporation has a Forward P/E ratio of 9.03 right now. This valuation marks a premium compared to its industry's average Forward P/E of 7.64.
We can also see that BK currently has a PEG ratio of 1.13. 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. BK's industry had an average PEG ratio of 1.16 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 212, which puts it in the bottom 16% 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 the most recent trading day at $42.52, moving -0.51% from the previous trading session. This move lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Prior to today's trading, shares of the company had gained 3.81% over the past month. This has outpaced the Finance sector's gain of 2.29% and lagged the S&P 500's gain of 4.14% 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 July 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 5.22%. Meanwhile, our latest consensus estimate is calling for revenue of $4.38 billion, up 2.9% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $17.53 billion. These totals would mark changes of +3.05% and +7.02%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.37% lower. The Bank of New York Mellon Corporation is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that The Bank of New York Mellon Corporation has a Forward P/E ratio of 9.03 right now. This valuation marks a premium compared to its industry's average Forward P/E of 7.64.
We can also see that BK currently has a PEG ratio of 1.13. 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. BK's industry had an average PEG ratio of 1.16 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 212, which puts it in the bottom 16% 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.