Analyst opinions
Analysts gave the Bank of America Corporation (BAC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 2 out of 29 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 9 recommended BAC as a Hold, 14 felt it is a Buy and 1 rated the stock as Underweight. Bank of America Corporation’s EPS for the current quarter is expected to be $0.77.
Meanwhile, the consensus price target for the stock as assigned by Wall Street analysts is $51.93, meaning bulls need an upside of 17.83% from its recent market value. According to analyst projections, BAC’s forecast low is $40.00 with $66.00 as the target high. To hit the forecast high, the stock’s price needs a -54.68% plunge from its current level, while the stock would need to tank 6.26% for it to hit the projected low.
estimates and forecasts
Data shows that the Bank of America Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 4.02% over the past 6 months, a -8.12% in annual growth rate that is considerably higher than the industry average of -11.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Bank of America Corporation will rise 30.50%, while the growth in revenue is estimated to hit -11.60% for the next quarter. Year-over-year growth is forecast to reach 4.20% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $22.29 billion. 7 analysts are of the opinion that Bank of America Corporation’s revenue for the quarter ending Mar 2022 will be $23.3 billion. The company’s revenue for the corresponding quarters a year ago was $20.21 billion and $22.93 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 10.30%. The estimates for the next quarter sales put growth at 1.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.10%. The 2022 estimates are for Bank of America Corporation earnings to increase by 90.70%, but the outlook for the next 5-year period is at 23.89% per year.
BAC Dividends
Bank of America Corporation is expected to release its next quarterly earnings report between April 13 and April 18. The 1.90% annual yield figure for the share gives it an annual dividend of 0.84. It is important to note, however, that the 1.90% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
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