In its upcoming report, Synovus Financial (SNV – Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.16 per share, reflecting an increase of 45% compared to the same period last year. Revenues are forecasted to be $567.77 million, representing a year-over-year increase of 16.2%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.2% to its current level. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Prior to a company’s earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts’ forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let’s delve into the average projections of some Synovus metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that ‘net interest margin, taxable equivalent’ will reach 3.2%. The estimate is in contrast to the year-ago figure of 3.1%.
Analysts forecast ‘Efficiency ratio – TE’ to reach 54.8%. Compared to the present estimate, the company reported 72% in the same quarter last year.
The combined assessment of analysts suggests that ‘Average Balance – Total interest earning assets’ will likely reach $54.67 billion. The estimate compares to the year-ago value of $55.99 billion.
It is projected by analysts that the ‘Non-performing Loans (NPLs)’ will reach $300.97 million. Compared to the present estimate, the company reported $288.18 million in the same quarter last year.
Based on the collective assessment of analysts, ‘Non-performing Assets (NPAs)’ should arrive at $302.06 million. Compared to the current estimate, the company reported $288.18 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated ‘Total non-interest revenue’ of $121.84 million. Compared to the current estimate, the company reported $51.47 million in the same quarter of the previous year.
According to the collective judgment of analysts, ‘Net interest income taxable equivalent’ should come in at $440.22 million. The estimate is in contrast to the year-ago figure of $438.43 million.
The consensus estimate for ‘Net Interest Income’ stands at $439.38 million. Compared to the current estimate, the company reported $437.21 million in the same quarter of the previous year.
Analysts predict that the ‘Card fees’ will reach $19.55 million. Compared to the present estimate, the company reported $20.87 million in the same quarter last year.
Analysts expect ‘Capital markets income’ to come in at $8.77 million. Compared to the current estimate, the company reported $5.10 million in the same quarter of the previous year.
Analysts’ assessment points toward ‘Brokerage revenue’ reaching $20.86 million. The estimate compares to the year-ago value of $19.73 million.
The average prediction of analysts places ‘Mortgage banking income’ at $3.99 million. The estimate is in contrast to the year-ago figure of $3.02 million.
View all Key Company Metrics for Synovus here>>>
Over the past month, shares of Synovus have returned -4.1% versus the Zacks S&P 500 composite’s -2.2% change. Currently, SNV carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Financial Market Newsflash
No financial news published today. Check back later.
