In its upcoming report, The Bank of New York Mellon Corporation (BK) is predicted by Wall Street analysts to post quarterly earnings of $1.93 per share, reflecting an increase of 22.2% compared to the same period last year. Revenues are forecasted to be $5.15 billion, representing a year-over-year increase of 7.5%.
Over the last 30 days, there has been a downward revision of 0.5% 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.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some The Bank of New York Mellon metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Total interest-earning assets - Average balance' will likely reach $390.81 billion. The estimate is in contrast to the year-ago figure of $354.69 billion.
The consensus among analysts is that 'Book value per common share' will reach $58.50 . Compared to the current estimate, the company reported $52.82 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Tier 1 Leverage Ratio' should come in at 6.1%. The estimate compares to the year-ago value of 6.2%.
The collective assessment of analysts points to an estimated 'Tier 1 Capital Ratio (Standardized Approach)' of 15.4%. Compared to the current estimate, the company reported 14.7% in the same quarter of the previous year.
Analysts' assessment points toward 'Total Nonperforming Loans' reaching $189.81 million. Compared to the current estimate, the company reported $211.00 million in the same quarter of the previous year.
Analysts forecast 'Nonperforming Assets' to reach $191.31 million. The estimate compares to the year-ago value of $213.00 million.
The average prediction of analysts places 'Net interest revenue (FTE)' at $1.32 billion. Compared to the current estimate, the company reported $1.16 billion in the same quarter of the previous year.
The consensus estimate for 'Net interest revenue' stands at $1.32 billion. Compared to the present estimate, the company reported $1.16 billion in the same quarter last year.
Analysts expect 'Total fee and other revenue' to come in at $3.85 billion. The estimate is in contrast to the year-ago figure of $3.63 billion.
Based on the collective assessment of analysts, 'Investment services fees' should arrive at $2.50 billion. Compared to the present estimate, the company reported $2.41 billion in the same quarter last year.
It is projected by analysts that the 'Distribution and servicing fees' will reach $36.18 million. The estimate is in contrast to the year-ago figure of $37.00 million.
Analysts predict that the 'Foreign exchange revenue' will reach $195.13 million. The estimate is in contrast to the year-ago figure of $156.00 million.
View all Key Company Metrics for The Bank of New York Mellon here>>>Shares of The Bank of New York Mellon have experienced a change of +9.8% in the past month compared to the +0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), BK is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).