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Western Alliance (WAL) Gains But Lags Market: What You Should Know
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Western Alliance (WAL - Free Report) closed at $38.85 in the latest trading session, marking a +0.91% move from the prior day. This change lagged the S&P 500's 1.22% gain on the day. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 4.63%.
Heading into today, shares of the bank holding company had gained 10.6% over the past month, outpacing the Finance sector's gain of 5.82% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Western Alliance as it approaches its next earnings report date. In that report, analysts expect Western Alliance to post earnings of $2.02 per share. This would mark a year-over-year decline of 15.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $660.8 million, up 5.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.23 per share and revenue of $2.62 billion. These totals would mark changes of -15.15% and +2.22%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Western Alliance. These recent revisions tend to reflect the evolving nature of short-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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Western Alliance currently has a Zacks Rank of #3 (Hold).
Investors should also note Western Alliance's current valuation metrics, including its Forward P/E ratio of 4.68. Its industry sports an average Forward P/E of 7.16, so we one might conclude that Western Alliance is trading at a discount comparatively.
We can also see that WAL currently has a PEG ratio of 0.46. 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. Banks - West stocks are, on average, holding a PEG ratio of 0.6 based on yesterday's closing prices.
The Banks - West industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 242, which puts it in the bottom 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Western Alliance (WAL) Gains But Lags Market: What You Should Know
Western Alliance (WAL - Free Report) closed at $38.85 in the latest trading session, marking a +0.91% move from the prior day. This change lagged the S&P 500's 1.22% gain on the day. Meanwhile, the Dow gained 1.26%, and the Nasdaq, a tech-heavy index, added 4.63%.
Heading into today, shares of the bank holding company had gained 10.6% over the past month, outpacing the Finance sector's gain of 5.82% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from Western Alliance as it approaches its next earnings report date. In that report, analysts expect Western Alliance to post earnings of $2.02 per share. This would mark a year-over-year decline of 15.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $660.8 million, up 5.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.23 per share and revenue of $2.62 billion. These totals would mark changes of -15.15% and +2.22%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Western Alliance. These recent revisions tend to reflect the evolving nature of short-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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Western Alliance currently has a Zacks Rank of #3 (Hold).
Investors should also note Western Alliance's current valuation metrics, including its Forward P/E ratio of 4.68. Its industry sports an average Forward P/E of 7.16, so we one might conclude that Western Alliance is trading at a discount comparatively.
We can also see that WAL currently has a PEG ratio of 0.46. 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. Banks - West stocks are, on average, holding a PEG ratio of 0.6 based on yesterday's closing prices.
The Banks - West industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 242, which puts it in the bottom 4% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.