Yahoo Finance The Bank of New York Mellon Corporation (BK) Gains But Lags Market: What You Should Know
The Bank of New York Mellon Corporation (BK) closed the most recent trading day at $44.40, moving +0.89% from the previous trading session. This change lagged the S&P 500's 1.76% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 3.03%.
Prior to today's trading, shares of the company had lost 14.99% over the past month. This has lagged the Finance sector's loss of 11.12% and the S&P 500's loss of 5.94% in that time.
The Bank of New York Mellon Corporation will be looking to display strength as it nears its next earnings release, which is expected to be April 18, 2023. On that day, The Bank of New York Mellon Corporation is projected to report earnings of $1.08 per share, which would represent year-over-year growth of 25.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.33 billion, up 10.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.83 per share and revenue of $17.58 billion. These totals would mark changes of +5.23% and +7.34%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for The Bank of New York Mellon Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.31% higher within the past month. The Bank of New York Mellon Corporation is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note The Bank of New York Mellon Corporation's current valuation metrics, including its Forward P/E ratio of 9.11. For comparison, its industry has an average Forward P/E of 7.54, which means The Bank of New York Mellon Corporation is trading at a premium to the group.
Investors should also note that BK has a PEG ratio of 1.14 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.09 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 151, putting it in the bottom 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The Bank of New York Mellon Corporation (BK) : Free Stock Analysis Report
