SunTrust (STI) Announces Quarterly Results
SunTrust (NYSE:STI) posted its quarterly earnings results on Friday. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.08, Stock Ratings News reports. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.03 billion.
Shares of SunTrust (NYSE:STI) opened at 38.01 on Friday. SunTrust has a 1-year low of $26.93 and a 1-year high of $38.58. The stock has a 50-day moving average of $36.37 and a 200-day moving average of $34.57. The company has a market cap of $20.291 billion and a P/E ratio of 16.78.
A number of analysts have recently weighed in on STI shares. Analysts at Goldman Sachs Group Inc. upgraded shares of SunTrust from a “buy” rating to a “conviction-buy” rating in a research note to investors on Friday, January 10th. On a related note, analysts at Merrill Lynch upgraded shares of SunTrust to a “neutral” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Bank of America Corp. upgraded shares of SunTrust from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, January 9th. They now have a $38.00 price target on the stock, up previously from $32.00. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.05.
SunTrust Banks, Inc (NYSE:STI) is a commercial banking organization.
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