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Here's What Key Metrics Tell Us About Renasant (RNST) Q1 Earnings
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For the quarter ended March 2024, Renasant (RNST - Free Report) reported revenue of $164.67 million, down 4.9% over the same period last year. EPS came in at $0.65, compared to $0.82 in the year-ago quarter.
The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $159.6 million. With the consensus EPS estimate being $0.63, the EPS surprise was +3.17%.
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:
Net Interest Margin: 3.3% versus 3.3% estimated by four analysts on average.
Efficiency ratio (GAAP): 67.5% versus the four-analyst average estimate of 68%.
Average Balance - Total interest-earning assets: $15.30 billion compared to the $15.36 billion average estimate based on three analysts.
Annualized net loan charge-offs / average loans: 0% versus the three-analyst average estimate of 0.1%.
Total Nonperforming Loans: $74.23 million versus the two-analyst average estimate of $73.79 million.
Total Nonperforming Assets: $83.37 million versus $85.09 million estimated by two analysts on average.
Net Interest Income: $123.29 million compared to the $122.86 million average estimate based on four analysts.
Net Interest income (FTE): $125.85 million versus the four-analyst average estimate of $125.54 million.
Total Noninterest Income: $41.38 million compared to the $36.76 million average estimate based on four analysts.
Shares of Renasant have returned +0.9% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Renasant (RNST) Q1 Earnings
For the quarter ended March 2024, Renasant (RNST - Free Report) reported revenue of $164.67 million, down 4.9% over the same period last year. EPS came in at $0.65, compared to $0.82 in the year-ago quarter.
The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $159.6 million. With the consensus EPS estimate being $0.63, the EPS surprise was +3.17%.
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:
- Net Interest Margin: 3.3% versus 3.3% estimated by four analysts on average.
- Efficiency ratio (GAAP): 67.5% versus the four-analyst average estimate of 68%.
- Average Balance - Total interest-earning assets: $15.30 billion compared to the $15.36 billion average estimate based on three analysts.
- Annualized net loan charge-offs / average loans: 0% versus the three-analyst average estimate of 0.1%.
- Total Nonperforming Loans: $74.23 million versus the two-analyst average estimate of $73.79 million.
- Total Nonperforming Assets: $83.37 million versus $85.09 million estimated by two analysts on average.
- Net Interest Income: $123.29 million compared to the $122.86 million average estimate based on four analysts.
- Net Interest income (FTE): $125.85 million versus the four-analyst average estimate of $125.54 million.
- Total Noninterest Income: $41.38 million compared to the $36.76 million average estimate based on four analysts.
View all Key Company Metrics for Renasant here>>>Shares of Renasant have returned +0.9% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.