Old National Bancorp (NASDAQ:ONB) will release its third-quarter earnings on Tuesday, July 20. The following is Benzinga’s preview of the company’s IPO.
Earnings, Net Income, And Earnings Per Share
Earnings, particularly earnings per share (EPS), are important indicators of a company’s profitability. Total earnings, often known as net income, are calculated by subtracting total revenue from total expenses. Net income divided by the number of outstanding shares is EPS.
Old National Bancorp is expected to earn $0.4 per share in quarterly earnings on revenue of $205.32 million, according to analysts covering the company. Old National Bancorp earned $0.32 per share on revenue of $204.13 million in the same quarter last year.
What Are Earnings Surprises And Analyst Estimates, And Why Do They Matter?
Each quarter, analysts covering this firm will release forward-looking sales and EPS projections. The “consensus estimates” are calculated by averaging each analyst’s EPS and revenue forecasts for a firm over the course of a quarter. An “earnings surprise” occurs when a company’s earnings or sales exceeds or falls below the consensus estimate, and it can cause the stock to move significantly.
Earnings would be up 25.0 percent if the company reported earnings in line when it reports results on Tuesday. On a year-over-year basis, sales would be up 0.58 percent. In the past, the company’s reported EPS has matched analyst estimates like this:
Quarter EPS Estimate Q1 2021 Q4 2020 Q3 2020 Q2 2020
Actual 0.52 0.44 0.46 0.32 EPS 0.41 0.38 0.33 0.24
Estimated Revenue 208.82 M 206.00 M 201.89 M 197.11 M
Actual Revenue 204.83 M 219.63 M 210.33 M 204.13 M
Performance of the Stock Market
As of July 16, Old National Bancorp’s stock was trading at $16.64. The stock has gained 11.63 percent in the last 52 weeks. Long-term shareholders are likely to be satisfied coming into this earnings announcement, given that these returns are normally favorable.
Don’t be shocked if the stock moves as a result of comments made during the company’s conference call. The conference call for Old National Bancorp is planned for 09:00:00 ET and can be accessed here./n
