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

Synovus Financial

17/04/2024 22:37

* Synovus Financial Corp  SNV.N  reported quarterly adjusted
earnings of 79 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.33.  The mean expectation of sixteen analysts for the
quarter was for earnings of 99 cents per share. Wall Street
expected results to range from 86 cents to $1.04 per share.
    * Revenue fell 12.4% to $537.73 million from a year ago;
analysts
expected $547.63 million. 
    * Synovus Financial Corp's reported EPS for the quarter was
78
cents​.
    * The company reported quarterly net income of $114.82
million.
    * Synovus Financial Corp shares had fallen by 8.6% this
quarter and lost 2.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.3%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "strong buy" or "buy," 5
"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 April 17 at
09:36 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      0.99           0.79           Missed
 Dec. 31 2023      0.90           1.06           Beat
 Sep. 30 2023      0.87           0.84           Missed
 Jun. 30 2023      1.15           1.16           Beat