The trading price of Bank Of New York Mellon Corp (NYSE:BK) closed lower on Tuesday,March 12, closing at $55.12, -0.88% lower than its previous close.
The company’s P/E ratio in the trailing 12-month period was 13.85, while its 5Y monthly beta was 1.10. In examining the 52-week price action we see that the stock hit a 52-week high of $56.42 and a 52-week low of $39.65. Over the past month, the stock has lost -0.18% in value.
Bank Of New York Mellon Corp, whose market valuation is $41.58 billion at the time of this writing, is expected to release its quarterly earnings report Apr 16, 2024. The dividend yield on the company stock is 2.96%, while its Forward Dividend ratio is 1.63. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.19 per share this quarter, however they have predicted annual earnings per share of $5.27 for 2024 and $5.87 for 2025. It means analysts are expecting annual earnings per share growth of 4.40% this year and 11.40% next year.
Analysts have forecast the company to bring in revenue of $4.36 billion for the current quarter, with the likely lows of $4.27 billion and highs of $4.45 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $17.62 billion. The company’s revenue is forecast to grow by 0.70% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Bank Of New York Mellon Corp No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest BK has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.21, which symbolizes a positive outlook. A quick review shows that BK’s price is currently -0.46% off the SMA20 and 0.75% off the SMA50. The RSI metric on the 14-day chart is currently showing 48.88, and weekly volatility stands at 1.51%. When measured over the past 30 days, the indicator reaches 1.55%. Bank Of New York Mellon Corp (NYSE:BK)’s beta value is currently sitting at 1.10, while the Average True Range indicator is currently displaying 0.84.
To see how Bank Of New York Mellon Corp stock has been performing in comparison to its peers in the industry, here are the numbers: BK stock’s performance was -0.88% in the latest trading, and 16.51% in the past year. Bank Of New York Mellon Corp has a P/E ratio of 13.85.
An evaluation of the daily trading volume of Bank Of New York Mellon Corp (NYSE:BK) indicates that the 3-month average is 4.03 million. However, this figure has increased over the past 10 days to an average of 3.78 million.
Currently, records show that 759.34 million of the company’s shares remain outstanding. The insiders hold 0.29% of outstanding shares, whereas institutions hold 87.08%. The stats also highlight that short interest as of Feb 29, 2024, stood at 7.48 million shares, resulting in a short ratio of 1.95 at that time. From this, we can conclude that short interest is 0.99% of the company’s total outstanding shares. It is noteworthy that short shares in February were up slightly from the previous month’s figure, which was 6.94 million. However, since the stock’s price has seen 5.90% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
