For the quarter ended September 2023, Renasant (RNST - Free Report) reported revenue of $166.21 million, down 3.1% over the same period last year. EPS came in at $0.75, compared to $0.79 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $164.6 million, representing a surprise of +0.98%. The company delivered an EPS surprise of +8.70%, with the consensus EPS estimate being $0.69.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 (GAAP): 63.7% versus 65.7% estimated by four analysts on average.
- Net Interest Margin: 3.4% versus the four-analyst average estimate of 3.4%.
- Annualized net loan charge-offs / average loans: 0.1% versus 0.2% estimated by three analysts on average.
- Total Nonperforming Loans: $70.07 million versus $90.39 million estimated by two analysts on average.
- Total Nonperforming Assets: $79.33 million versus the two-analyst average estimate of $95.89 million.
- Average Balance - Total interest-earning assets: $15.37 billion versus the two-analyst average estimate of $15.28 billion.
- Net Interest Income: $128.01 million versus the four-analyst average estimate of $127.13 million.
- Net Interest income (FTE): $130.76 million versus $129.93 million estimated by four analysts on average.
- Total Noninterest Income: $38.20 million versus $39.03 million estimated by four analysts on average.
View all Key Company Metrics for Renasant here>>>Shares of Renasant have returned -5.5% over the past month versus the Zacks S&P 500 composite's -2.3% 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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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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For the quarter ended September 2023, Renasant (RNST - Free Report) reported revenue of $166.21 million, down 3.1% over the same period last year. EPS came in at $0.75, compared to $0.79 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $164.6 million, representing a surprise of +0.98%. The company delivered an EPS surprise of +8.70%, with the consensus EPS estimate being $0.69.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 (GAAP): 63.7% versus 65.7% estimated by four analysts on average.
- Net Interest Margin: 3.4% versus the four-analyst average estimate of 3.4%.
- Annualized net loan charge-offs / average loans: 0.1% versus 0.2% estimated by three analysts on average.
- Total Nonperforming Loans: $70.07 million versus $90.39 million estimated by two analysts on average.
- Total Nonperforming Assets: $79.33 million versus the two-analyst average estimate of $95.89 million.
- Average Balance - Total interest-earning assets: $15.37 billion versus the two-analyst average estimate of $15.28 billion.
- Net Interest Income: $128.01 million versus the four-analyst average estimate of $127.13 million.
- Net Interest income (FTE): $130.76 million versus $129.93 million estimated by four analysts on average.
- Total Noninterest Income: $38.20 million versus $39.03 million estimated by four analysts on average.
View all Key Company Metrics for Renasant here>>>Shares of Renasant have returned -5.5% over the past month versus the Zacks S&P 500 composite's -2.3% 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.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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