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Truist Financial Corporation (TFC) Gains As Market Dips: What You Should Know
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In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $30.09, marking a +0.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the company had lost 2.28% over the past month. This has lagged the Finance sector's gain of 1.96% and the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $1.06, down 11.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.05 billion, up 7.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.26 per share and revenue of $24.23 billion, which would represent changes of -14.11% and +5.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Truist Financial Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.99% lower within the past month. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Truist Financial Corporation is currently trading at a Forward P/E ratio of 7.05. This valuation marks a discount compared to its industry's average Forward P/E of 7.61.
Meanwhile, TFC's PEG ratio is currently 1.58. 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. The Banks - Major Regional was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% 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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Truist Financial Corporation (TFC) Gains As Market Dips: What You Should Know
In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $30.09, marking a +0.3% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the company had lost 2.28% over the past month. This has lagged the Finance sector's gain of 1.96% and the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $1.06, down 11.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.05 billion, up 7.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.26 per share and revenue of $24.23 billion, which would represent changes of -14.11% and +5.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Truist Financial Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.99% lower within the past month. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Truist Financial Corporation is currently trading at a Forward P/E ratio of 7.05. This valuation marks a discount compared to its industry's average Forward P/E of 7.61.
Meanwhile, TFC's PEG ratio is currently 1.58. 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. The Banks - Major Regional was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 238, which puts it in the bottom 6% 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.