Truist Financial Stock Falls Despite Market Upturn; Q3 Earnings Expected to Decline
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Truist Financial Corporation (TFC) stock declined 1.63% despite the S&P 500 only falling 0.5%. TFC stock has lost 1.84% over the past month.
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TFC is scheduled to report earnings on October 19, 2023. Analysts estimate EPS will drop 33.87% year-over-year to $0.82.
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Revenue for the quarter is projected to decline 2.83% to $5.68 billion. For the full year, revenue is expected to rise 1.64% to $23.41 billion.
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EPS estimates for TFC have risen 0.4% over the past month, signaling analyst confidence. The stock has a Zacks Rank of 3 (Hold).
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TFC has a lower P/E ratio (7.83) than its industry average (7.98), suggesting it may be undervalued. Its PEG ratio of 1.75 is higher than the industry average of 1.28.