We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cadence (CADE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
Cadence (CADE - Free Report) reported $428.34 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 2.7%. EPS of $0.68 for the same period compares to $0.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $456.09 million, representing a surprise of -6.09%. The company delivered an EPS surprise of +3.03%, with the consensus EPS estimate being $0.66.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cadence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.29% versus 3.19% estimated by six analysts on average.
Efficiency Ratio: 74.36% versus the six-analyst average estimate of 62.44%.
Net charge-offs to average loans: 0.02% versus 0.06% estimated by four analysts on average.
Average Balance - Total interest earning assets: $43.82 billion compared to the $42.91 billion average estimate based on four analysts.
Total noninterest income: $74.07 million compared to the $108.85 million average estimate based on six analysts.
Net Interest Income (FTE): $355.32 million compared to the $351.15 million average estimate based on five analysts.
Net Interest Income: $354.27 million versus the five-analyst average estimate of $349.95 million.
Insurance commissions: $39.61 million versus the three-analyst average estimate of $38.15 million.
Other noninterest income: $29.79 million compared to the $21.12 million average estimate based on three analysts.
Wealth Management: $21.53 million versus the three-analyst average estimate of $19.22 million.
Deposit Service charges: $16.48 million versus the three-analyst average estimate of $16.73 million.
Credit card, debit card and merchant fees: $11.85 million versus $15.14 million estimated by three analysts on average.
Shares of Cadence have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cadence (CADE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Cadence (CADE - Free Report) reported $428.34 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 2.7%. EPS of $0.68 for the same period compares to $0.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $456.09 million, representing a surprise of -6.09%. The company delivered an EPS surprise of +3.03%, with the consensus EPS estimate being $0.66.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cadence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.29% versus 3.19% estimated by six analysts on average.
- Efficiency Ratio: 74.36% versus the six-analyst average estimate of 62.44%.
- Net charge-offs to average loans: 0.02% versus 0.06% estimated by four analysts on average.
- Average Balance - Total interest earning assets: $43.82 billion compared to the $42.91 billion average estimate based on four analysts.
- Total noninterest income: $74.07 million compared to the $108.85 million average estimate based on six analysts.
- Net Interest Income (FTE): $355.32 million compared to the $351.15 million average estimate based on five analysts.
- Net Interest Income: $354.27 million versus the five-analyst average estimate of $349.95 million.
- Insurance commissions: $39.61 million versus the three-analyst average estimate of $38.15 million.
- Other noninterest income: $29.79 million compared to the $21.12 million average estimate based on three analysts.
- Wealth Management: $21.53 million versus the three-analyst average estimate of $19.22 million.
- Deposit Service charges: $16.48 million versus the three-analyst average estimate of $16.73 million.
- Credit card, debit card and merchant fees: $11.85 million versus $15.14 million estimated by three analysts on average.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.