Analysts on Wall Street project that The Bank of New York Mellon Corporation (BK) will announce quarterly earnings of $1.96 per share in its forthcoming report, representing an increase of 14% year over year. Revenues are projected to reach $5.1 billion, increasing 5.2% from the same quarter last year.
The current level reflects an upward revision of 1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some The Bank of New York Mellon metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Revenue- Market and Wealth Services- Total revenue' to reach $1.77 billion. The estimate indicates a change of +6.1% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Securities Services- Total fee and other revenue' at $1.76 billion. The estimate indicates a change of +7.4% from the prior-year quarter.
The consensus estimate for 'Revenue- Securities Services- Net interest income' stands at $693.25 million. The estimate indicates a year-over-year change of +1.8%.
Analysts predict that the 'Revenue- Securities Services- Total revenue' will reach $2.46 billion. The estimate points to a change of +5.8% from the year-ago quarter.
Analysts expect 'Revenue- Market and Wealth Services- Net interest income' to come in at $525.13 million. The estimate indicates a year-over-year change of +10.8%.
According to the collective judgment of analysts, 'Tier 1 Leverage Ratio' should come in at 6.0%. The estimate compares to the year-ago value of 5.7%.
Based on the collective assessment of analysts, 'Total interest-earning assets - Average balance' should arrive at $380.01 billion. Compared to the present estimate, the company reported $357.77 billion in the same quarter last year.
The consensus among analysts is that 'Book value per common share' will reach $56.52 . Compared to the current estimate, the company reported $51.52 in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Tier 1 Capital Ratio (Standardized Approach)' of 14.3%. Compared to the current estimate, the company reported 13.7% in the same quarter of the previous year.
Analysts' assessment points toward 'Assets under management - Total' reaching $2155.08 billion. The estimate is in contrast to the year-ago figure of $2030.00 billion.
It is projected by analysts that the 'Nonperforming Assets' will reach $247.61 million. Compared to the present estimate, the company reported $179.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Total Capital Ratio (Standardized Approach)' will likely reach 15.3%. The estimate is in contrast to the year-ago figure of 14.8%.
View all Key Company Metrics for The Bank of New York Mellon here>>>
Shares of The Bank of New York Mellon have demonstrated returns of +1.8% over the past month compared to the Zacks S&P 500 composite's +0.9% change. With a Zacks Rank #2 (Buy), BK is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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The Bank of New York Mellon Corporation (BK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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