Renasant Corp reports results for the quarter ended in March - Earnings Summary

Renasant

23/04/2024 23:24

* Renasant Corp  RNST.N  reported quarterly adjusted
earnings of
65 cents​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of 82
cents.  The mean expectation of seven analysts for the quarter
was for earnings of 63 cents per share. Wall Street expected
results to range from 60 cents to 66 cents per share.
    * Revenue fell 4.9% to $164.67 million from a year ago;
analysts
expected $163.60 million. 
    * Renasant Corp's reported EPS for the quarter was 70
cents​.
    * The company reported quarterly net income of $39.41
million.
    * Renasant Corp shares had fallen by 4.2% this quarter and
lost 10.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 6.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Renasant Corp is
$34.50 
This summary was machine generated from LSEG data April 23 at
10:24 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.63           0.65           Beat
 Dec. 31 2023      0.64           0.76           Beat
 Sep. 30 2023      0.69           0.75           Beat
 Jun. 30 2023      0.75           0.83           Beat