U.S. Bancorp (USB) Stock Sinks As Market Gains: What You Should Know
In the latest market close, U.S. Bancorp (USB) reached $43.40, with a -0.14% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.46%, while the tech-heavy Nasdaq added 0.75%.
Shares of the company have appreciated by 7.44% over the course of the past month, outperforming the Finance sector's gain of 1.46% and the S&P 500's gain of 3.4%.
The investment community will be closely monitoring the performance of U.S. Bancorp in its forthcoming earnings report. The company is scheduled to release 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%. Meanwhile, our latest consensus estimate is calling for revenue of $6.83 billion, up 7.76% from the prior-year quarter.
Investors should also pay attention to any latest changes in analyst estimates for U.S. Bancorp. 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.
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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, U.S. Bancorp holds a Zacks Rank of #3 (Hold).
Looking at valuation, U.S. Bancorp is presently trading at a Forward P/E ratio of 11.01. Its industry sports an average Forward P/E of 10.72, so one might conclude that U.S. Bancorp is trading at a premium comparatively.
It's also important to note that USB currently trades at a PEG ratio of 2.2. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Banks - Major Regional industry had an average PEG ratio of 1.6 as trading concluded yesterday.
The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 59, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.
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U.S. Bancorp (USB) : Free Stock Analysis Report
