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Bank of America (BAC) closed at $ 28.69 on the last trading day, marking a 1.02% increase over the previous day. This change exceeded the 0.85% gain recorded by the S & P 500 that day. At the same time, the Dow Jones added 0.77%, and the Nasdaq, a technology giant, gained 1.08%.
Prior to trading today, the shares of the country 's second largest bank had lost 5.49% over the past month. This lagged the 2.26% loss in the financial sector and the 2.06% loss of the S & P 500 during this period.
Wall Street will look for LAC's positivity as it approaches the next publication date of its results. The company is expected to generate $ 0.72 EPS, up 14.29% from the same quarter last year. At the same time, Zacks' estimated consensus revenue forecasts net sales of $ 23.20 billion, up 2.63% over the same period last year.
Consensus estimates for Zacks released by LAC are based on a profit of $ 2.86 per share and a turnover of $ 92.60 billion. These results would represent variations from year to year of + 9.58% and 1.49%, respectively.
Investors also noted any recent changes in the analyst's estimates for the OCA. These revisions help to show the ever-changing nature of short-term business trends. Thus, positive estimates revisions reflect analysts' optimism about the company's operations and profitability.
Based on our research, we believe that these revisions are directly related to stock movements near the teams. Investors can benefit by using Zacks' ranking. This model takes into account these estimation changes and provides a simple and usable scoring system.
The Zacks ranking system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive history of unaudited outperformance, with # 1 stocks generating an average annual return of + 25% since 1988 Over the past 30 days, our EPS consensus projection stagnated. LAC currently holds rank 3 of Zacks (pending).
In terms of valuation, LAC has a P / E ratio of 9.95. Its business sector has an average P / E of 10.94; it can be concluded that LAC is trading at a discount.
We can also see that the blood alcohol level is currently 1.24 in BAC. This popular measure is similar to the well-known P / E ratio, with the difference that the PEG ratio also takes into account the expected earnings growth rate of the company. The LAC industry had an average PEG ratio of 1.36 at the close of yesterday.
Banks – The main regional sector is part of the finance sector. The Zacks ranking for this industry is currently 154, ranking it among the bottom 40% of 250+ industries.
The Zacks Industry Ranking measures the strength of our industry groups by measuring the average Zacks ranking of individual actions within groups. Our research shows that the 50% of the top rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all these measures, and much more, on Zacks.com.
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Do you want to know the latest Zacks Investment Research recommendations? Today, you can download 7 best actions for the next 30 days. Click to get this free report
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Bank of America Corporation (BAC): Free Stock Analysis Report
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Do you want to know the latest Zacks Investment Research recommendations? Today, you can download 7 best actions for the next 30 days. Click to get this free report
Bank of America Corporation (BAC): Free Stock Analysis Report
To read this article on Zacks.com, click here.
Zacks Investment Research
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