For the quarter ended June 2023, Cadence (CADE - Free Report) reported revenue of $465.84 million, up 3.5% over the same period last year. EPS came in at $0.64, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -2.13% over the Zacks Consensus Estimate of $475.99 million. With the consensus EPS estimate being $0.67, the EPS surprise was -4.48%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cadence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.03% versus 3.19% estimated by six analysts on average.
- Efficiency Ratio: 65.08% compared to the 61.95% average estimate based on six analysts.
- Net charge-offs to average loans: 0.16% versus the four-analyst average estimate of 0.11%.
- Average Balance - Total interest earning assets: $44.23 billion versus the four-analyst average estimate of $44.60 billion.
- Total noninterest income: $132.29 million versus $122.93 million estimated by six analysts on average.
- Net Interest Income (FTE): $334.61 million versus $352.64 million estimated by five analysts on average.
- Net Interest Income: $333.55 million versus $355.29 million estimated by five analysts on average.
- Wealth Management: $21.74 million versus the three-analyst average estimate of $21.06 million.
- Deposit Service charges: $17.21 million versus the three-analyst average estimate of $15.77 million.
- Credit card, debit card and merchant fees: $12.62 million versus $16.10 million estimated by three analysts on average.
- Other noninterest income: $26.70 million versus the three-analyst average estimate of $24.70 million.
- Insurance commissions: $45.60 million versus the three-analyst average estimate of $38.28 million.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned +18.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended June 2023, Cadence (CADE - Free Report) reported revenue of $465.84 million, up 3.5% over the same period last year. EPS came in at $0.64, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -2.13% over the Zacks Consensus Estimate of $475.99 million. With the consensus EPS estimate being $0.67, the EPS surprise was -4.48%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cadence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.03% versus 3.19% estimated by six analysts on average.
- Efficiency Ratio: 65.08% compared to the 61.95% average estimate based on six analysts.
- Net charge-offs to average loans: 0.16% versus the four-analyst average estimate of 0.11%.
- Average Balance - Total interest earning assets: $44.23 billion versus the four-analyst average estimate of $44.60 billion.
- Total noninterest income: $132.29 million versus $122.93 million estimated by six analysts on average.
- Net Interest Income (FTE): $334.61 million versus $352.64 million estimated by five analysts on average.
- Net Interest Income: $333.55 million versus $355.29 million estimated by five analysts on average.
- Wealth Management: $21.74 million versus the three-analyst average estimate of $21.06 million.
- Deposit Service charges: $17.21 million versus the three-analyst average estimate of $15.77 million.
- Credit card, debit card and merchant fees: $12.62 million versus $16.10 million estimated by three analysts on average.
- Other noninterest income: $26.70 million versus the three-analyst average estimate of $24.70 million.
- Insurance commissions: $45.60 million versus the three-analyst average estimate of $38.28 million.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned +18.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on CADE - FREE