Truist Financial Corporation (TFC) Ascends While Market Falls: Some Facts to Note
Truist Financial Corporation (TFC) closed the most recent trading day at $37.51, moving +1.6% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 1.64%.
The the stock of company has risen by 10.94% in the past month, leading the Finance sector's gain of 5.35% and the S&P 500's gain of 4%.
Analysts and investors alike will be keeping a close eye on the performance of Truist Financial Corporation in its upcoming earnings disclosure. The company's earnings report is set to go public on January 18, 2024. The company is predicted to post an EPS of $0.88, indicating a 32.31% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.63 billion, indicating a 9.29% decline compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Truist Financial Corporation. Such recent modifications usually signify the changing landscape of near-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.
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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Truist Financial Corporation presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Truist Financial Corporation is currently being traded at a Forward P/E ratio of 10.79. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 10.79.
We can also see that TFC currently has a PEG ratio of 2.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Banks - Major Regional industry had an average PEG ratio of 1.61.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 40% of over 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.
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) : Free Stock Analysis Report
