U.S. Bancorp (USB) Outpaces Stock Market Gains: What You Should Know
U.S. Bancorp (USB) closed at $43.51 in the latest trading session, marking a +0.46% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.17%. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq added 0.2%.
Coming into today, shares of the company had gained 17.59% in the past month. In that same time, the Finance sector gained 7.56%, while the S&P 500 gained 4.71%.
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 forecasted to report an EPS of $0.99, showcasing a 17.5% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.83 billion, indicating a 7.78% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.31 per share and a revenue of $28.15 billion, representing changes of -3.15% and +16.39%, respectively, from the prior year.
Any recent changes to analyst estimates for U.S. Bancorp should also be noted by investors. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.05% fall in the Zacks Consensus EPS estimate. At present, U.S. Bancorp boasts a Zacks Rank of #4 (Sell).
With respect to valuation, U.S. Bancorp is currently being traded at a Forward P/E ratio of 10.04. This represents no noticeable deviation compared to its industry's average Forward P/E of 10.04.
It is also worth noting that USB currently has a PEG ratio of 2.01. 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 1.5 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 166, finds itself in the bottom 35% echelons of all 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.
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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U.S. Bancorp (USB) : Free Stock Analysis Report
