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The Bank of New York Mellon Corporation (BK) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, The Bank of New York Mellon Corporation (BK - Free Report) closed at $43.84, marking a +1.88% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Prior to today's trading, shares of the company had gained 5.52% over the past month. This has outpaced the Finance sector's gain of 2.77% and the S&P 500's gain of 3.08% in that time.
The Bank of New York Mellon Corporation will be looking to display strength as it nears its next earnings release, which is expected to be July 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.23 per share, which would represent year-over-year growth of 6.96%. Meanwhile, our latest consensus estimate is calling for revenue of $4.39 billion, up 3.26% from the prior-year quarter.
BK's full-year Zacks Consensus Estimates are calling for earnings of $4.78 per share and revenue of $17.56 billion. These results would represent year-over-year changes of +4.14% and +7.23%, respectively.
Any recent changes to analyst estimates for The Bank of New York Mellon Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.04% higher within the past month. The Bank of New York Mellon Corporation currently has a Zacks Rank of #3 (Hold).
In terms of valuation, The Bank of New York Mellon Corporation is currently trading at a Forward P/E ratio of 9. This valuation marks a premium compared to its industry's average Forward P/E of 7.69.
We can also see that BK currently has a PEG ratio of 1.12. 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. BK's industry had an average PEG ratio of 1.18 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 233, which puts it in the bottom 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The Bank of New York Mellon Corporation (BK) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, The Bank of New York Mellon Corporation (BK - Free Report) closed at $43.84, marking a +1.88% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Prior to today's trading, shares of the company had gained 5.52% over the past month. This has outpaced the Finance sector's gain of 2.77% and the S&P 500's gain of 3.08% in that time.
The Bank of New York Mellon Corporation will be looking to display strength as it nears its next earnings release, which is expected to be July 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.23 per share, which would represent year-over-year growth of 6.96%. Meanwhile, our latest consensus estimate is calling for revenue of $4.39 billion, up 3.26% from the prior-year quarter.
BK's full-year Zacks Consensus Estimates are calling for earnings of $4.78 per share and revenue of $17.56 billion. These results would represent year-over-year changes of +4.14% and +7.23%, respectively.
Any recent changes to analyst estimates for The Bank of New York Mellon Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.04% higher within the past month. The Bank of New York Mellon Corporation currently has a Zacks Rank of #3 (Hold).
In terms of valuation, The Bank of New York Mellon Corporation is currently trading at a Forward P/E ratio of 9. This valuation marks a premium compared to its industry's average Forward P/E of 7.69.
We can also see that BK currently has a PEG ratio of 1.12. 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. BK's industry had an average PEG ratio of 1.18 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 233, which puts it in the bottom 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.