Synovus Financial Corp reports results for the quarter ended in June - Earnings Summary

Synovus Financial

17/07/2024 22:38

* Synovus Financial Corp  SNV.N  reported quarterly adjusted
earnings of $1.16​​ per share for the quarter ended in June,
identical to the same quarter last year.  The mean expectation
of seventeen analysts for the quarter was for earnings of 86
cents per share. Wall Street expected results to range from -53
cents to $1.03 per share.
    * Revenue fell 46.1% to $306.15 million from a year ago;
analysts
expected $429.04 million. 
    * Synovus Financial Corp's reported EPS for the quarter was
a loss
of 16 cents​.
    * The company reported a quarterly loss of $23.74 million.
    * Synovus Financial Corp shares had risen by 13.0% this
quarter and gained 20.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 13.4%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Synovus Financial
Corp is $44.00 
This summary was machine generated from LSEG data July 17 at
09:38 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
 Jun. 30 2024      0.86           1.16           Beat
 Mar. 31 2024      0.99           0.86           Missed
 Dec. 31 2023      0.90           1.06           Beat
 Sep. 30 2023      0.87           0.84           Missed