Bank of America (BAC) closed the most recent trading day at $29.17, moving +0.31% from the previous trading session. This change outpaced the S&P 500's 0.11% gain on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the nation's second-largest bank had gained 1.86% over the past month. This has outpaced the Finance sector's gain of 1.35% and lagged the S&P 500's gain of 3.84% in that time.
Wall Street will be looking for positivity from BAC as it approaches its nex t earnings report date. This is expected to be April 16, 2019. On that day, BAC is projected to report earnings of $0.65 per share, which would represent year-over-year growth of 4.84%. Meanwhile, our latest consensus estimate is calling for revenue of $23.29 billion, up 0.7% from the prior-year quarter.
BAC's full-year Zacks Consensus Estimates are calling for earnings of $2.86 per share and revenue of $93.87 billion. These results would represent year-over-year changes of +9.58% and +2.87%, respectively.
Investors might also notice recent changes to analyst estimates for BAC. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. BAC is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BAC is holding a Forward P/E ratio of 10.18. This valuation marks a discount compared to its industry's average Forward P/E of 10.78.
We can also see that BAC currently has a PEG ratio of 1.27. 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. BAC's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 40% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.