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Jackson Financial (JXN) Stock Drops Despite Market Gains: Important Facts to Note
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Jackson Financial (JXN - Free Report) closed at $87.18 in the latest trading session, marking a -0.75% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.
Shares of the financial services company witnessed a gain of 18.29% over the previous month, beating the performance of the Finance sector with its loss of 1.27% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Jackson Financial in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company is forecasted to report an EPS of $4.32, showcasing a 29.34% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.71 billion, indicating a 317.83% growth compared to the corresponding quarter of the prior year.
JXN's full-year Zacks Consensus Estimates are calling for earnings of $17.33 per share and revenue of $6.85 billion. These results would represent year-over-year changes of +34.97% and +116.73%, respectively.
It is also important to note the recent changes to analyst estimates for Jackson Financial. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 2.03% higher. Right now, Jackson Financial possesses a Zacks Rank of #2 (Buy).
With respect to valuation, Jackson Financial is currently being traded at a Forward P/E ratio of 5.07. This represents a discount compared to its industry's average Forward P/E of 12.36.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Jackson Financial (JXN) Stock Drops Despite Market Gains: Important Facts to Note
Jackson Financial (JXN - Free Report) closed at $87.18 in the latest trading session, marking a -0.75% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.
Shares of the financial services company witnessed a gain of 18.29% over the previous month, beating the performance of the Finance sector with its loss of 1.27% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Jackson Financial in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company is forecasted to report an EPS of $4.32, showcasing a 29.34% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.71 billion, indicating a 317.83% growth compared to the corresponding quarter of the prior year.
JXN's full-year Zacks Consensus Estimates are calling for earnings of $17.33 per share and revenue of $6.85 billion. These results would represent year-over-year changes of +34.97% and +116.73%, respectively.
It is also important to note the recent changes to analyst estimates for Jackson Financial. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 2.03% higher. Right now, Jackson Financial possesses a Zacks Rank of #2 (Buy).
With respect to valuation, Jackson Financial is currently being traded at a Forward P/E ratio of 5.07. This represents a discount compared to its industry's average Forward P/E of 12.36.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.