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Here's Why U.S. Bancorp (USB) Fell More Than Broader Market
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U.S. Bancorp (USB - Free Report) closed at $43.23 in the latest trading session, marking a -1.64% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.72%. Elsewhere, the Dow saw a downswing of 1%, while the tech-heavy Nasdaq depreciated by 0.95%.
Heading into today, shares of the company had gained 2.93% over the past month, lagging the Finance sector's gain of 3.08% and outpacing the S&P 500's gain of 2.16% in that time.
Investors will be eagerly watching for the performance of U.S. Bancorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 17, 2024. On that day, U.S. Bancorp is projected to report earnings of $0.89 per share, which would represent a year-over-year decline of 23.28%. Alongside, our most recent consensus estimate is anticipating revenue of $6.69 billion, indicating a 6.3% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.88 per share and a revenue of $27.6 billion, representing changes of -9.98% and -1.47%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for U.S. Bancorp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.64% lower. Currently, U.S. Bancorp is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, U.S. Bancorp is currently trading at a Forward P/E ratio of 11.34. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.34 for its industry.
Investors should also note that USB has a PEG ratio of 2.27 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.68 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 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why U.S. Bancorp (USB) Fell More Than Broader Market
U.S. Bancorp (USB - Free Report) closed at $43.23 in the latest trading session, marking a -1.64% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.72%. Elsewhere, the Dow saw a downswing of 1%, while the tech-heavy Nasdaq depreciated by 0.95%.
Heading into today, shares of the company had gained 2.93% over the past month, lagging the Finance sector's gain of 3.08% and outpacing the S&P 500's gain of 2.16% in that time.
Investors will be eagerly watching for the performance of U.S. Bancorp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 17, 2024. On that day, U.S. Bancorp is projected to report earnings of $0.89 per share, which would represent a year-over-year decline of 23.28%. Alongside, our most recent consensus estimate is anticipating revenue of $6.69 billion, indicating a 6.3% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.88 per share and a revenue of $27.6 billion, representing changes of -9.98% and -1.47%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for U.S. Bancorp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.64% lower. Currently, U.S. Bancorp is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, U.S. Bancorp is currently trading at a Forward P/E ratio of 11.34. This signifies no noticeable deviation in comparison to the average Forward P/E of 11.34 for its industry.
Investors should also note that USB has a PEG ratio of 2.27 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.68 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 170, which puts it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.