Yahoo Finance Here's What Analysts Are Forecasting For F.N.B. Corporation (NYSE:FNB) After Its First-Quarter Results
As you might know, F.N.B. Corporation (NYSE:FNB) recently reported its first-quarter numbers. It looks like the results were a bit of a negative overall. While revenues of US$407m were in line with analyst predictions, statutory earnings were less than expected, missing estimates by 4.6% to hit US$0.32 per share. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on F.N.B after the latest results.
See our latest analysis for F.N.B
Taking into account the latest results, the most recent consensus for F.N.B from eight analysts is for revenues of US$1.66b in 2024. If met, it would imply a meaningful 11% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to swell 13% to US$1.41. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$1.66b and earnings per share (EPS) of US$1.44 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$15.78. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic F.N.B analyst has a price target of US$18.00 per share, while the most pessimistic values it at US$15.00. This is a very narrow spread of estimates, implying either that F.N.B is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It's clear from the latest estimates that F.N.B's rate of growth is expected to accelerate meaningfully, with the forecast 15% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 6.9% p.a. over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 5.8% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect F.N.B to grow faster than the wider industry.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for F.N.B going out to 2025, and you can see them free on our platform here.
It might also be worth considering whether F.N.B's debt load is appropriate, using our debt analysis tools on the Simply Wall St platform, here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
