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Bank of America (BAC) Gains But Lags Market: What You Should Know

Bank of America (BAC) closed the most recent trading day at $23.10, moving +0.39% from the previous trading session. This move lagged the S&P 500's daily gain of 0.78%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 1.44%.

Coming into today, shares of the nation's second-largest bank had lost 18.46% in the past month. In that same time, the Finance sector lost 7.76%, while the S&P 500 lost 1.32%.

Investors will be hoping for strength from BAC as it approaches its next earnings release, which is expected to be July 16, 2020. America Finance News The company is expected to report EPS of $0.30, down 59.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.31 billion, down 7.69% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.41 per share and revenue of $87.04 billion. These totals would mark changes of -48.73% and -4.61%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for BAC. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. America Press Release This model considers these estimate changes and provides a simple, 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 moved 4.96% lower. BAC currently has a Zacks Rank of #3 (Hold).

Investors should also note BAC's current valuation metrics, including its Forward P/E ratio of 16.37. Its industry sports an average Forward P/E of 16.37, so we one might conclude that BAC is trading at a no noticeable deviation comparatively.

Also, we should mention that BAC has a PEG ratio of 2.34. 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 2.56 based on yesterday's closing prices.

The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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. America Finance Stock Market 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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Bank of America Corporation (BAC) : Free Stock Analysis Report

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