Truist Financial Corporation (TFC) Stock Dips While Market Gains: Key Facts
In the latest market close, Truist Financial Corporation (TFC) reached $36.34, with a -0.98% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.45%.
The upcoming earnings release of Truist Financial Corporation will be of great interest to investors. The company's earnings report is expected on January 18, 2024. In that report, analysts expect Truist Financial Corporation to post earnings of $0.88 per share. This would mark a year-over-year decline of 32.31%. Simultaneously, our latest consensus estimate expects the revenue to be $5.63 billion, showing a 9.29% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.76 per share and a revenue of $24.61 billion, representing changes of -24.19% and +6.83%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Truist Financial Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Truist Financial Corporation boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Truist Financial Corporation is presently trading at a Forward P/E ratio of 9.76. This indicates a discount in contrast to its industry's Forward P/E of 10.3.
It's also important to note that TFC currently trades at a PEG ratio of 2.19. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 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.
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Truist Financial Corporation (TFC) : Free Stock Analysis Report
