Renasant (RNST - Free Report) reported $147.44 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 2.2%. EPS of $0.83 for the same period compares to $0.72 a year ago.
The reported revenue represents a surprise of -13.68% over the Zacks Consensus Estimate of $170.8 million. With the consensus EPS estimate being $0.75, the EPS surprise was +10.67%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Renasant performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 72.63% versus 62.71% estimated by four analysts on average.
- Net Interest Margin: 3.45% versus the four-analyst average estimate of 3.51%.
- Net Charge-off (% of Average Loans): 0.13% compared to the 0.17% average estimate based on three analysts.
- Total interest-earning assets: $15.44 billion versus $15.55 billion estimated by two analysts on average.
- Net Interest Income: $130.22 million versus the four-analyst average estimate of $134.39 million.
- Net Interest income (FTE): $133.09 million versus the four-analyst average estimate of $135.60 million.
- Total Noninterest Income: $17.23 million versus $37.12 million estimated by four analysts on average.
View all Key Company Metrics for Renasant here>>>Shares of Renasant have returned +10.1% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Renasant (RNST - Free Report) reported $147.44 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 2.2%. EPS of $0.83 for the same period compares to $0.72 a year ago.
The reported revenue represents a surprise of -13.68% over the Zacks Consensus Estimate of $170.8 million. With the consensus EPS estimate being $0.75, the EPS surprise was +10.67%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Renasant performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 72.63% versus 62.71% estimated by four analysts on average.
- Net Interest Margin: 3.45% versus the four-analyst average estimate of 3.51%.
- Net Charge-off (% of Average Loans): 0.13% compared to the 0.17% average estimate based on three analysts.
- Total interest-earning assets: $15.44 billion versus $15.55 billion estimated by two analysts on average.
- Net Interest Income: $130.22 million versus the four-analyst average estimate of $134.39 million.
- Net Interest income (FTE): $133.09 million versus the four-analyst average estimate of $135.60 million.
- Total Noninterest Income: $17.23 million versus $37.12 million estimated by four analysts on average.
View all Key Company Metrics for Renasant here>>>Shares of Renasant have returned +10.1% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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