BNY Mellon (BK): Strong Industry, Solid Earnings Estimate Revisions


One stock that might be an intriguing choice for investors right now is The Bank of New York Mellon Corporation BK. This is because this security in the Banks – Major Regional space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Banks – Major Regional space as it currently has a Zacks Industry Rank of 54 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, BNY Mellon is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past two months, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

The Bank of New York Mellon Corporation Price and Consensus

The Bank of New York Mellon Corporation price-consensus-chart | The Bank of New York Mellon Corporation Quote

In fact, over the past two months, current quarter estimates have risen from 98 cents per share to 99 cents per share, while current year estimates have risen from $4.50 per share to $4.56 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider BNY Mellon. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Zacks Top 10 Stocks for 2022

In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022?

From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.

Be First To New Top 10 Stocks >>

Click to get this free report

The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



Source link

Leave a Reply

Your email address will not be published.

Copyright © 2022 Billionaire Club Co LLC. All rights reserved

Chat
Loading the chat ...