Analysts Estimate Bank of America (BAC) to Report a Decline in Earnings: What to Look Out for

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Analysts Estimate Bank of America (BAC) to Report a Decline in Earnings: What to Look Out for

Zacks04-09

Wall Street expects a year-over-year decline in earnings on lower revenues when Bank of America (BAC) reports results for the quarter ended March 2024. While this widely-known consensus outlook is ...

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While this widely-known consensus outlook is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/analysts-estimate-bank-america-bac-140012946.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Analysts Estimate Bank of America (BAC) to Report a Decline in Earnings: What to Look Out for</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnalysts Estimate Bank of America (BAC) to Report a Decline in Earnings: What to Look Out for\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-09 22:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/analysts-estimate-bank-america-bac-140012946.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street expects a year-over-year decline in earnings on lower revenues when Bank of America (BAC) reports results for the quarter ended March 2024. While this widely-known consensus outlook is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/analysts-estimate-bank-america-bac-140012946.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SDAWW","symbol_name":"SUNCAR TECHNOLOGY GROUP INC C/WTS 08/05/2028 (TO PUR ORD)","start_time":0,"source_url":"https://finance.yahoo.com/news/analysts-estimate-bank-america-bac-140012946.html","article_id":"2426144831","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/wbCMwMtKIoXj_iQA0ego4g--~B/aD01MDY7dz05MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1154d43aaeb65735a640003549116295"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426144831","pubTimestamp":1712671212,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Wall Street expects a year-over-year decline in earnings on lower revenues when Bank of America  reports results for the quarter ended March 2024. 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On the other hand, if they miss, the stock may move lower.While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.This nation's second-largest bank is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -19.2%.Revenues are expected to","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SDAWW":"SUNCAR TECHNOLOGY GROUP INC C/WTS 08/05/2028 (TO PUR ORD)","BAC":"美国银行","MSC":"新濠影汇","SDA":"盛大科技"},"translate_title":"分析师估计美国银行（Bank of America）将报告收益下降：值得关注的是什么","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BAC":1,"MSC":0.9,"SDA":0.9,"SDAWW":0.9},"content_text":"Wall Street expects a year-over-year decline in earnings on lower revenues when Bank of America (BAC) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.\nThe stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 16. On the other hand, if they miss, the stock may move lower.\nWhile the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.\nZacks Consensus Estimate\nThis nation's second-largest bank is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -19.2%.\nRevenues are expected to be $25.31 billion, down 3.6% from the year-ago quarter.\nEstimate Revisions Trend\nThe consensus EPS estimate for the quarter has been revised 0.25% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.\nInvestors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.\nEarnings Whisper\nEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.\nThe Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.\nThus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.\nA positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.\nPlease note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).\nHow Have the Numbers Shaped Up for Bank of America?\nFor Bank of America, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.38%.\nOn the other hand, the stock currently carries a Zacks Rank of #3.\nSo, this combination makes it difficult to conclusively predict that Bank of America will beat the consensus EPS estimate.\nDoes Earnings Surprise History Hold Any Clue?\nWhile calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.\nFor the last reported quarter, it was expected that Bank of America would post earnings of $0.69 per share when it actually produced earnings of $0.70, delivering a surprise of +1.45%.\nOver the last four quarters, the company has beaten consensus EPS estimates four times.\nBottom Line\nAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.\nThat said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.\nBank of America doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.\nExpected Results of an Industry Player\nAmong the stocks in the Zacks Banks - Major Regional industry, Citigroup (C) is soon expected to post earnings of $1.35 per share for the quarter ended March 2024. This estimate indicates a year-over-year change of -27.4%. This quarter's revenue is expected to be $20.3 billion, down 5.4% from the year-ago quarter.\nThe consensus EPS estimate for Citigroup has been revised 0.6% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -18.71%.\nWhen combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Citigroup will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.\nStay on top of upcoming earnings announcements with the Zacks Earnings Calendar.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBank of America Corporation (BAC) : Free Stock Analysis Report\nCitigroup Inc. (C) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}