Truist Financial Corporation (TFC) Surpasses Market Returns: Some Facts Worth Knowing
Truist Financial Corporation (TFC) closed the latest trading day at $36.72, indicating a +1.05% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.59%. On the other hand, the Dow registered a gain of 0.68%, and the technology-centric Nasdaq increased by 0.66%.
The company's stock has climbed by 13.42% in the past month, exceeding the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16%.
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. The company's earnings per share (EPS) are projected to be $0.88, reflecting a 32.31% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.63 billion, down 9.29% from the year-ago period.
TFC's full-year Zacks Consensus Estimates are calling for earnings of $3.76 per share and revenue of $24.61 billion. These results would represent year-over-year changes of -24.19% and +6.83%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Truist Financial Corporation. Recent revisions tend to reflect the latest 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. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Truist Financial Corporation is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Truist Financial Corporation is currently being traded at a Forward P/E ratio of 9.66. This signifies a discount in comparison to the average Forward P/E of 10.21 for its industry.
One should further note that TFC currently holds a PEG ratio of 2.16. 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. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.47.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 150, this industry ranks in the bottom 41% of all industries, numbering over 250.
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.
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
