Global financial services company BNY NYSE: BNY) will be reporting earnings this Thursday before market open. Here’s what to expect.
BNY beat analysts’ revenue expectations last quarter, reporting revenues of $5.70 billion, up 13.3% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.
Is BNY a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting BNY’s revenue to grow 9.6% year on year, in line with the 9.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. BNY has a history of exceeding Wall Street’s expectations.
Looking at BNY’s peers in the capital markets segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Goldman Sachs delivered year-on-year revenue growth of 23%, beating analysts’ expectations by 11.5%, and Jefferies reported revenues up 8.5%, topping estimates by 1.1%. Jefferies traded down 1.3% following the results.
Read our full analysis of Goldman Sachs’s results here and Jefferies’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the capital markets stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.5% on average over the last month. BNY is down 10.7% during the same time and is heading into earnings with an average analyst price target of $163.47 (compared to the current share price of $140.78).
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