Posted 4/1/2024, 9:45:21 PM
Bank of America Stock Dips 1% as Analysts Forecast Earnings Decline
- Bank of America (BAC) stock declined 1.05% on Tuesday compared to S&P 500's 0.2% loss. Over the last month, BAC shares are up 10.39%
- Analysts expect BAC to report 18.09% year-over-year earnings decline and 3.99% revenue drop for its upcoming earnings report on April 16, 2024
- For the full year, consensus estimates project 9.36% earnings decline and 1.06% revenue growth
- Positive estimate revisions suggest a good business outlook and tend to correlate with near-term stock price increases
- BAC currently carries a Forward P/E of 12.23, a PEG ratio of 1.75, and a Zacks Rank of #3 (Hold)