On Jan 15, the company announced fourth-quarter 2014 adjusted earnings of 32 cents per share, a penny ahead of the Zacks Consensus Estimate. However, after considering certain non-recurring items, earnings per share stood at 25 cents compared with 29 cents earned in year-ago quarter.
This slump shouldn’t be too much of a surprise to investors, as the financial institution has seen 9 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
BAC currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the same sector is Citigroup Inc. (C), holding a Zacks Rank #2 (Buy).
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