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Compared to Estimates, Renasant (RNST) Q3 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, Renasant (RNST) Q3 Earnings: A Look at Key Metrics
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.