Truist Financial Corporation (TFC) Stock Declines While Market Improves: Some Information for Investors
Truist Financial Corporation (TFC) closed at $34.10 in the latest trading session, marking a -0.96% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.46% for the day. Meanwhile, the Dow experienced a rise of 0.48%, and the technology-dominated Nasdaq saw an increase of 0.7%.
The company's shares have seen an increase of 17.31% over the last month, surpassing the Finance sector's gain of 7.77% and the S&P 500's gain of 4.85%.
The investment community will be closely monitoring the performance of Truist Financial Corporation in its forthcoming earnings report. The company is scheduled to release its earnings on January 18, 2024. The company is forecasted to report an EPS of $0.88, showcasing a 32.31% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.63 billion, down 9.25% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.76 per share and a revenue of $24.61 billion, signifying shifts of -24.19% and +6.84%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Truist Financial Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Truist Financial Corporation possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Truist Financial Corporation currently has a Forward P/E ratio of 9.16. This represents a discount compared to its industry's average Forward P/E of 9.39.
Also, we should mention that TFC has a PEG ratio of 2.05. 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 1.53 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 68, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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
