Bank of New York Mellon Corp (NYSE: BK) has reported E.P.S. of $1.51 for its third fiscal quarter (ending September 30) versus $1.23 for the same period a year ago — an increase of 23%. This performance was $0.09 better than the consensus estimate of $1.42. For the latest four quarters through September 30, E.P.S. were $4.50 compared to $4.29 a year ago — an increase of 5%.
Recent Price Action
Bank of New York Mellon Corp (NYSE: BK) stock closed at $74.15 on 10/11/24 after a slight decline of -0.4%. Moreover, exceptionally high trading volume at 259% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months and has risen 4.7% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, BK is expected to continue to be an important Value Builder.
Bank of New York Mellon has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Bank of New York Mellon has a very high Appreciation Score of 86 and a very high Power Rating of 91, leading to the Highest Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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