Truist Financial Corporation (TFC) Stock Moves -0.33%: What You Should Know
In the latest trading session, Truist Financial Corporation (TFC) closed at $33.04, marking a -0.33% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
The company's shares have seen an increase of 8.62% over the last month, surpassing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08%.
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. On that day, Truist Financial Corporation is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 32.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.63 billion, down 9.25% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.76 per share and revenue of $24.61 billion, indicating changes of -24.19% and +6.84%, respectively, compared to the previous 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.2% higher. Truist Financial Corporation is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Truist Financial Corporation is at present trading with a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average Forward P/E of 9.13.
It's also important to note that TFC currently trades at a PEG ratio of 1.97. 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. The average PEG ratio for the Banks - Major Regional industry stood at 1.47 at the close of the market yesterday.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Truist Financial Corporation (TFC) : Free Stock Analysis Report
