For the quarter ended March 2024, Cadence (CADE - Free Report) reported revenue of $437.69 million, up 2.2% over the same period last year. EPS came in at $0.62, compared to $0.68 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $426.84 million, representing a surprise of +2.54%. The company delivered an EPS surprise of +14.81%, with the consensus EPS estimate being $0.54.
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: 3.2% versus 3.2% estimated by six analysts on average.
- Efficiency Ratio fully tax equivalent: 60.1% compared to the 62.8% average estimate based on five analysts.
- Average Balance - Total interest earning assets: $44.23 billion versus $43.88 billion estimated by five analysts on average.
- Net charge-offs to average loans: 0.2% compared to the 0.3% average estimate based on four analysts.
- Non-Performing Assets: $246.29 million versus the two-analyst average estimate of $265.86 million.
- Tier 1 capital: 12.1% compared to the 11.4% average estimate based on two analysts.
- Total capital: 14.5% versus the two-analyst average estimate of 13.8%.
- Non-Performing Loans: $241.01 million compared to the $257.77 million average estimate based on two analysts.
- Total noninterest income: $83.79 million compared to the $81.55 million average estimate based on six analysts.
- Net Interest Income: $353.91 million versus $343.86 million estimated by five analysts on average.
- Net Interest Income (FTE): $354.54 million versus the five-analyst average estimate of $345.59 million.
- Deposit Service charges: $18.34 million compared to the $16.88 million average estimate based on three analysts.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned -3.2% over the past month versus the Zacks S&P 500 composite's -4% 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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For the quarter ended March 2024, Cadence (CADE - Free Report) reported revenue of $437.69 million, up 2.2% over the same period last year. EPS came in at $0.62, compared to $0.68 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $426.84 million, representing a surprise of +2.54%. The company delivered an EPS surprise of +14.81%, with the consensus EPS estimate being $0.54.
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: 3.2% versus 3.2% estimated by six analysts on average.
- Efficiency Ratio fully tax equivalent: 60.1% compared to the 62.8% average estimate based on five analysts.
- Average Balance - Total interest earning assets: $44.23 billion versus $43.88 billion estimated by five analysts on average.
- Net charge-offs to average loans: 0.2% compared to the 0.3% average estimate based on four analysts.
- Non-Performing Assets: $246.29 million versus the two-analyst average estimate of $265.86 million.
- Tier 1 capital: 12.1% compared to the 11.4% average estimate based on two analysts.
- Total capital: 14.5% versus the two-analyst average estimate of 13.8%.
- Non-Performing Loans: $241.01 million compared to the $257.77 million average estimate based on two analysts.
- Total noninterest income: $83.79 million compared to the $81.55 million average estimate based on six analysts.
- Net Interest Income: $353.91 million versus $343.86 million estimated by five analysts on average.
- Net Interest Income (FTE): $354.54 million versus the five-analyst average estimate of $345.59 million.
- Deposit Service charges: $18.34 million compared to the $16.88 million average estimate based on three analysts.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned -3.2% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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