Shares of Truist Financial Corporation (NYSE:TFC) closed at $27.97 on Thursday, marking a 0.99% decrease in the last trading session. This performance contrasted with the broader market's mixed movements, as the Dow Jones Industrial Average fell by 0.2%, while the Nasdaq Composite gained 0.22%. Over the past month, TFC's shares have seen a substantial decline of 6.86%, underperforming both the Finance sector and the S&P 500 index.
According to InvestingPro data, the company has a market capitalization of $37.26 billion, a P/E ratio of 6.44, and a dividend yield of 7.44%. The revenue for the last twelve months up to Q2 2023 was $22.34 billion, a slight decrease from the previous period, reflecting the company's recent challenges.
Looking ahead, Truist Financial is set to release its next earnings report on October 19, 2023. The company is expected to report an earnings per share (EPS) of $0.82 and revenue of $5.68 billion for this quarter. Projections for the full year indicate earnings at $3.67 per share and revenue totaling $23.36 billion.
In terms of valuation metrics, TFC is currently trading at a Forward Price-to-Earnings (P/E) ratio of 7.69. This figure is often used by investors to compare a company's current market value to its expected earnings.
As the financial sector navigates through market fluctuations and economic uncertainties, all eyes will be on Truist Financial's upcoming earnings report and future performance.
InvestingPro Tips suggest that Truist Financial has high earnings quality, with free cash flow exceeding net income and has raised its dividend for 8 consecutive years. However, it's worth noting that the company suffers from weak gross profit margins and the net income is expected to drop this year. For more insights, investors can explore the additional seven tips available on the InvestingPro TFC page.
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