U.S. Bancorp (USB) Falls More Steeply Than Broader Market: What Investors Need to Know
U.S. Bancorp (USB) ended the recent trading session at $39.08, demonstrating a -0.81% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.39%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the company had gained 13.19% over the past month, outpacing the Finance sector's gain of 5.92% and the S&P 500's gain of 5.08% in that time.
The investment community will be paying close attention to the earnings performance of U.S. Bancorp in its upcoming release. The company is slated to reveal its earnings on January 17, 2024. The company is predicted to post an EPS of $0.99, indicating a 17.5% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.83 billion, indicating a 7.82% increase compared to the same quarter of the previous year.
USB's full-year Zacks Consensus Estimates are calling for earnings of $4.32 per share and revenue of $28.15 billion. These results would represent year-over-year changes of -2.92% and +16.4%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for U.S. Bancorp. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. U.S. Bancorp is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, U.S. Bancorp currently has a Forward P/E ratio of 9.13. This represents no noticeable deviation compared to its industry's average Forward P/E of 9.13.
It is also worth noting that USB currently has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated 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. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
U.S. Bancorp (USB) : Free Stock Analysis Report
