Synovus Monetary (SNV) got here out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.16 per share. This compares to earnings of $0.80 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of seven.76%. 1 / 4 in the past, it was anticipated that this holding firm for Synovus Financial institution would put up earnings of $1.09 per share when it really produced earnings of $1.23, delivering a shock of 12.84%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Synovus
The sustainability of the inventory’s rapid value motion based mostly on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Synovus shares have added about 4.8% because the starting of the yr versus the S&P 500’s decline of -0.7%.
What’s Subsequent for Synovus?
Whereas Synovus has outperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a powerful monitor report of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Synovus: favorable. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $1.08 on $563.17 million in revenues for the approaching quarter and $4.70 on $2.32 billion in revenues for the present fiscal yr.
Buyers needs to be aware of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as effectively. When it comes to the Zacks Trade Rank, Banks – Southeast is presently within the prime 31% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Chemung Monetary (CHMG), one other inventory in the identical trade, has but to report outcomes for the quarter ended December 2024.
This monetary holding firm is predicted to put up quarterly earnings of $1.23 per share in its upcoming report, which represents a year-over-year change of +51.9%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.
Chemung Monetary’s revenues are anticipated to be $25.04 million, up 5.3% from the year-ago quarter.
Ought to You Spend money on Synovus Monetary Corp. (SNV)?
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Zacks Funding Analysis has been dedicated to offering traders with instruments and impartial analysis since 1978. For greater than 1 / 4 century, the Zacks Rank stock-rating system has greater than doubled the S&P 500 with a median achieve of +24.08% per yr. (These returns cowl a interval from January 1, 1988 by means of Could 6, 2024.)
Synovus Financial Corp. (SNV) : Free Stock Analysis Report
Chemung Financial Corp (CHMG) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
