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Truist Financial Corporation (TFC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $30.99, marking a -1.27% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 9.78%.
Coming into today, shares of the company had lost 5.02% in the past month. In that same time, the Finance sector gained 6.56%, while the S&P 500 gained 4.16%.
Wall Street will be looking for positivity from Truist Financial Corporation as it approaches its next earnings report date. This is expected to be July 20, 2023. On that day, Truist Financial Corporation is projected to report earnings of $1.03 per share, which would represent a year-over-year decline of 14.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.01 billion, up 6.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $23.98 billion, which would represent changes of -16.13% and +4.12%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Truist Financial Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 3.21% lower. Truist Financial Corporation is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 7.55. This represents a discount compared to its industry's average Forward P/E of 8.02.
Meanwhile, TFC's PEG ratio is currently 1.69. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 225, which puts it in the bottom 11% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Truist Financial Corporation (TFC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Truist Financial Corporation (TFC - Free Report) closed at $30.99, marking a -1.27% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 9.78%.
Coming into today, shares of the company had lost 5.02% in the past month. In that same time, the Finance sector gained 6.56%, while the S&P 500 gained 4.16%.
Wall Street will be looking for positivity from Truist Financial Corporation as it approaches its next earnings report date. This is expected to be July 20, 2023. On that day, Truist Financial Corporation is projected to report earnings of $1.03 per share, which would represent a year-over-year decline of 14.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.01 billion, up 6.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $23.98 billion, which would represent changes of -16.13% and +4.12%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Truist Financial Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 3.21% lower. Truist Financial Corporation is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 7.55. This represents a discount compared to its industry's average Forward P/E of 8.02.
Meanwhile, TFC's PEG ratio is currently 1.69. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 225, which puts it in the bottom 11% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.