Truist Financial Corporation (TFC) Gains As Market Dips: What You Should Know
Truist Financial Corporation (TFC) closed the most recent trading day at $32.10, moving +0.69% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.87%, and the Nasdaq, a tech-heavy index, added 2.77%.
Coming into today, shares of the company had lost 34.7% in the past month. In that same time, the Finance sector lost 9.19%, while the S&P 500 lost 5.06%.
Investors will be hoping for strength from Truist Financial Corporation as it approaches its next earnings release, which is expected to be April 20, 2023. The company is expected to report EPS of $1.16, down 5.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.11 billion, up 14.78% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.83 per share and revenue of $24.92 billion, which would represent changes of -2.62% and +8.17%, respectively, from the prior year.
Any recent changes to analyst estimates for Truist Financial Corporation should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Truist Financial Corporation currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Truist Financial Corporation is holding a Forward P/E ratio of 6.6. For comparison, its industry has an average Forward P/E of 7.97, which means Truist Financial Corporation is trading at a discount to the group.
We can also see that TFC currently has a PEG ratio of 1.33. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TFC's industry had an average PEG ratio of 1.1 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Truist Financial Corporation (TFC) : Free Stock Analysis Report
