Analysts on Wall Street project that Northwest Bancshares (NWBI) will announce quarterly earnings of $0.35 per share in its forthcoming report, representing an increase of 20.7% year over year. Revenues are projected to reach $183.86 million, increasing 9.3% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 1.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Northwest Bancshares metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Net interest margin' reaching 3.8%. Compared to the present estimate, the company reported 3.7% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Efficiency Ratio' of 58.7%. The estimate is in contrast to the year-ago figure of 79.4%.
Analysts expect 'Average Balance - Total interest-earning assets' to come in at $16.05 billion. Compared to the current estimate, the company reported $14.87 billion in the same quarter of the previous year.
The consensus estimate for 'Nonperforming loans' stands at $90.31 million. Compared to the present estimate, the company reported $129.03 million in the same quarter last year.
Analysts predict that the 'Total noninterest income/(loss)' will reach $32.02 million. The estimate compares to the year-ago value of $32.20 million.
According to the collective judgment of analysts, 'Net Interest Income' should come in at $151.38 million. Compared to the current estimate, the company reported $135.97 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Trust and other financial services income' will likely reach $8.93 million. The estimate compares to the year-ago value of $8.04 million.
The average prediction of analysts places 'Net Interest Income (FTE)' at $151.57 million. The estimate is in contrast to the year-ago figure of $136.94 million.
Based on the collective assessment of analysts, 'Service charges and fees' should arrive at $16.91 million. Compared to the current estimate, the company reported $16.91 million in the same quarter of the previous year.
Analysts forecast 'Other operating income' to reach $2.93 million. Compared to the present estimate, the company reported $3.98 million in the same quarter last year.
View all Key Company Metrics for Northwest Bancshares here>>>Over the past month, shares of Northwest Bancshares have returned -0.8% versus the Zacks S&P 500 composite's +1% change. Currently, NWBI carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Northwest Bancshares, Inc. (NWBI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).