Financial giant Bank of America Corp (NYSE:BAC) could provide a look at the strength of the banking sector when the company reports first-quarter financial results on Wednesday before the market opens.
• Bank of America stock is trading near recent highs. Where are BAC shares going?
Here are the earnings estimates, analyst ratings and key items to watch.
Bank of America Q1 Earnings Estimates
Analysts expect Bank of America to report first-quarter revenue of $29.82 billion, up from $27.51 billion in last year’s first quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in two straight quarters and in eight of the last 10 quarters overall.
Analysts expect Bank of America to report first-quarter earnings per share of $1.01, up from 90 cents per share year-over-year.
The company has beaten analyst estimates for earnings per share in 14 straight quarters.
Bank of America Analyst Ratings and Price Targets
Analysts have been mostly lowering their price targets on Bank of America stock ahead of quarterly earnings. Here are some of the most recent analyst ratings and price targets on the stock:
- JPMorgan: Maintained Overweight rating, lowered price target from $61.50 to $57.50
- Evercore ISI: Maintained Outperform rating, lowered price target from $59 to $55
- Oppenheimer: Maintained Outperform rating, lowered price target from $63 to $58
- Jefferies: Initiated with Buy rating, price target of $60
- Goldman Sachs: Maintained Buy rating, lowered price target from $67 …