Have you been eager to see how The Bank of New York Mellon Corporation (BK - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based financial services company’s earnings release this morning:
An Earnings Beat
BNY Mellon came out with adjusted earnings of 99 cents per share, beating the Zacks Consensus Estimate of 92 cents. The figure was up 9% from the prior year quarter.
Lower expenses support the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BNY Mellon depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate was revised 2% downward over the last seven days.
However, BNY Mellon has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.8% in the trailing four quarters.
Revenue Came In Lower Than Expected
BNY Mellon posted revenues of $4 billion, lagging the Zacks Consensus Estimate of $4.04 billion.
Key Stats to Note:
- There was no provision for credit losses
- Assets under custody and/or administration declined 1% year over year
- Repurchased 28.9 million common shares for $137 million during the quarter
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BNY Mellon. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this BNY Mellon earnings report!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Have you been eager to see how The Bank of New York Mellon Corporation (BK - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based financial services company’s earnings release this morning:
An Earnings Beat
BNY Mellon came out with adjusted earnings of 99 cents per share, beating the Zacks Consensus Estimate of 92 cents. The figure was up 9% from the prior year quarter.
Lower expenses support the results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BNY Mellon depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate was revised 2% downward over the last seven days.
However, BNY Mellon has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.8% in the trailing four quarters.
Revenue Came In Lower Than Expected
BNY Mellon posted revenues of $4 billion, lagging the Zacks Consensus Estimate of $4.04 billion.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BNY Mellon. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this BNY Mellon earnings report!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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