Capital One Financial Corporation (COF), based in McLean, Virginia, is set to release its Q3 earnings after the market closes on Thursday, October 24. Analysts anticipate a profit of $3.69 per share, a 17.1% decline from the previous year's $4.45. The company has struggled recently, missing Wall Street's adjusted EPS projections three times in the last four quarters.
Despite these challenges, COF's stock has shown a year-to-date gain of 17%, although this underperforms the S&P 500 Index's 20.6% increase. The consensus opinion on COF stock remains moderately bullish, with a mean price target of $161.56, indicating a potential upside of 5.3% from current levels.
As the third-quarter earnings season approaches, major companies like PepsiCo, JPMorgan, BlackRock, and Wells Fargo are expected to report their earnings, potentially influencing market trends. The Federal Reserve will also release minutes from its September meeting, providing insights into future rate cuts and economic conditions.
Investor sentiment is currently mixed, as corporate insiders have been cautious amidst the stock market rally, despite the S&P 500's best first nine months since 1997. This divergence highlights the uncertainty surrounding future market movements and economic stability.