U.S. Bancorp (USB) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The most recent trading session ended with U.S. Bancorp (USB) standing at $43.28, reflecting a -0.8% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Shares of the company witnessed a gain of 14.45% over the previous month, beating the performance of the Finance sector with its gain of 8.34% and the S&P 500's gain of 5.24%.
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. In that report, analysts expect U.S. Bancorp to post earnings of $0.99 per share. This would mark a year-over-year decline of 17.5%. At the same time, our most recent consensus estimate is projecting a revenue of $6.83 billion, reflecting a 7.78% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.31 per share and a revenue of $28.15 billion, indicating changes of -3.15% and +16.39%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for U.S. Bancorp. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 shifted 0.05% downward. U.S. Bancorp is currently a Zacks Rank #3 (Hold).
From a valuation perspective, U.S. Bancorp is currently exchanging hands at a Forward P/E ratio of 10.12. This represents a discount compared to its industry's average Forward P/E of 10.18.
One should further note that USB currently holds a PEG ratio of 2.02. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. USB's industry had an average PEG ratio of 1.56 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 36% 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.
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
