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Western Alliance (WAL) Gains As Market Dips: What You Should Know
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In the latest trading session, Western Alliance (WAL - Free Report) closed at $36.82, marking a +0.22% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the bank holding company had gained 4.58% over the past month. This has outpaced the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% in that time.
Wall Street will be looking for positivity from Western Alliance as it approaches its next earnings report date. On that day, Western Alliance is projected to report earnings of $2.02 per share, which would represent a year-over-year decline of 15.48%. Meanwhile, our latest consensus estimate is calling for revenue of $660.8 million, up 5.19% 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 $2.62 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. Recent revisions tend to reflect the latest near-term business trends. 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. 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 remained stagnant. 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 4.47. Its industry sports an average Forward P/E of 6.71, so we one might conclude that Western Alliance is trading at a discount comparatively.
Investors should also note that WAL has a PEG ratio of 0.44 right now. 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. WAL's industry had an average PEG ratio of 0.59 as of yesterday's close.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting 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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Western Alliance (WAL) Gains As Market Dips: What You Should Know
In the latest trading session, Western Alliance (WAL - Free Report) closed at $36.82, marking a +0.22% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 2.93%.
Prior to today's trading, shares of the bank holding company had gained 4.58% over the past month. This has outpaced the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% in that time.
Wall Street will be looking for positivity from Western Alliance as it approaches its next earnings report date. On that day, Western Alliance is projected to report earnings of $2.02 per share, which would represent a year-over-year decline of 15.48%. Meanwhile, our latest consensus estimate is calling for revenue of $660.8 million, up 5.19% 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 $2.62 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. Recent revisions tend to reflect the latest near-term business trends. 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. 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 remained stagnant. 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 4.47. Its industry sports an average Forward P/E of 6.71, so we one might conclude that Western Alliance is trading at a discount comparatively.
Investors should also note that WAL has a PEG ratio of 0.44 right now. 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. WAL's industry had an average PEG ratio of 0.59 as of yesterday's close.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting 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.