Regional banking company Simmons First National (NASDAQ: SFNC) will be announcing earnings results this Thursday after market hours. Here’s what to expect.
Simmons First National beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $220.6 million, up 8.3% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ revenue estimates.
Is Simmons First National a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Simmons First National’s revenue to decline 186% year on year to -$150.5 million, a further deceleration from the 10.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.47 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Simmons First National has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Simmons First National’s peers in the banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FB Financial delivered year-on-year revenue growth of 94.2%, beating analysts’ expectations by 4.2%, and Citigroup reported revenues up 9.3%, topping estimates by 4.6%.
Read our full analysis of FB Financial’s results here and Citigroup’s results here.
Investors in the banks segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Simmons First National is down 4.5% during the same time and is heading into earnings with an average analyst price target of $22.80 (compared to the current share price of $19.08).
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