The upcoming report from Synovus Financial (SNV) is expected to reveal quarterly earnings of $1.11 per share, indicating an increase of 40.5% compared to the year-ago period. Analysts forecast revenues of $570.2 million, representing an increase of 6% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
Bearing this in mind, let's now explore the average estimates of specific Synovus metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'net interest margin, taxable equivalent' stands at 3.3%. The estimate compares to the year-ago value of 3%.
According to the collective judgment of analysts, 'Efficiency ratio - TE' should come in at 55.2%. Compared to the current estimate, the company reported 59.9% in the same quarter of the previous year.
Analysts forecast 'Average Balance - Total interest earning assets' to reach $55.65 billion. The estimate is in contrast to the year-ago figure of $55.51 billion.
Analysts predict that the 'Non-performing Loans (NPLs)' will reach $318.40 million. The estimate compares to the year-ago value of $350.45 million.
Analysts' assessment points toward 'Non-performing Assets (NPAs)' reaching $319.15 million. The estimate is in contrast to the year-ago figure of $371.66 million.
The average prediction of analysts places 'Total non-interest revenue' at $125.36 million. Compared to the present estimate, the company reported $118.89 million in the same quarter last year.
The consensus among analysts is that 'Net interest income taxable equivalent' will reach $449.53 million. Compared to the current estimate, the company reported $420.16 million in the same quarter of the previous year.
It is projected by analysts that the 'Net Interest Income' will reach $443.94 million. The estimate is in contrast to the year-ago figure of $418.85 million.
Based on the collective assessment of analysts, 'Card fees' should arrive at $19.19 million. The estimate compares to the year-ago value of $19.49 million.
The combined assessment of analysts suggests that 'Capital markets income' will likely reach $10.83 million. Compared to the current estimate, the company reported $6.63 million in the same quarter of the previous year.
Analysts expect 'Brokerage revenue' to come in at $21.28 million. Compared to the present estimate, the company reported $22.71 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Mortgage banking income' of $3.31 million. Compared to the present estimate, the company reported $3.42 million in the same quarter last year.
View all Key Company Metrics for Synovus here>>>
Synovus shares have witnessed a change of -10.4% in the past month, in contrast to the Zacks S&P 500 composite's -6.1% move. With a Zacks Rank #3 (Hold), SNV is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Synovus Financial Corp. (SNV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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