Results: Stock Yards Bancorp, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates
Results: Stock Yards Bancorp, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates
Investors in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) had a good week, as its shares rose 7.4% to close at US$46.18 following the release of its first-quarter results. Stock Yards Bancorp reported US$83m in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$0.88 beat expectations, being 8.4% higher than what the analysts expected. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.
Stock Yards Bancorp, Inc.(纳斯达克股票代码:SYBT)的投资者度过了愉快的一周,在公布第一季度业绩后,其股价上涨7.4%,收于46.18美元。Stock Yards Bancorp公布的收入为8300万美元,与分析师的预测大致一致,尽管法定每股收益(EPS)为0.88美元,超出预期,比分析师的预期高出8.4%。根据结果,分析师更新了他们的盈利模式,很高兴知道他们是否认为公司的前景发生了巨大变化,或者业务是否照旧。考虑到这一点,我们收集了最新的法定预测,以了解分析师对明年的预期。
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Following the latest results, Stock Yards Bancorp's five analysts are now forecasting revenues of US$342.1m in 2024. This would be a satisfactory 5.5% improvement in revenue compared to the last 12 months. Statutory per-share earnings are expected to be US$3.53, roughly flat on the last 12 months. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$339.1m and earnings per share (EPS) of US$3.37 in 2024. So the consensus seems to have become somewhat more optimistic on Stock Yards Bancorp's earnings potential following these results.
根据最新业绩,Stock Yards Bancorp的五位分析师现在预测2024年的收入为3.421亿美元。与过去12个月相比,这将使收入增长5.5%,令人满意。法定每股收益预计为3.53美元,与过去12个月基本持平。然而,在最新财报公布之前,分析师曾预计2024年的收入为3.391亿美元,每股收益(EPS)为3.37美元。因此,在这些业绩公布后,人们对Stock Yards Bancorp的盈利潜力的共识似乎变得更加乐观了。
The consensus price target was unchanged at US$54.20, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Stock Yards Bancorp at US$60.00 per share, while the most bearish prices it at US$50.00. Even so, with a relatively close grouping of estimates, it looks like the analysts are quite confident in their valuations, suggesting Stock Yards Bancorp is an easy business to forecast or the the analysts are all using similar assumptions.
共识目标股价维持在54.20美元不变,这意味着盈利前景的改善预计不会对股东的价值创造产生长期影响。但是,还有另一种思考价格目标的方法,那就是研究分析师提出的价格目标范围,因为范围广泛的估计可能表明,对业务可能的结果有不同的看法。目前,最看涨的分析师对Stock Yards Bancorp的估值为每股60.00美元,而最看跌的分析师估值为50.00美元。即便如此,由于估计分组相对接近,分析师似乎对自己的估值非常有信心,这表明Stock Yards Bancorp是一项易于预测的业务,或者分析师都使用了类似的假设。
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Stock Yards Bancorp's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 7.4% growth on an annualised basis. This is compared to a historical growth rate of 18% over the past five years. Compare this to the 692 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 6.0% per year. So it's pretty clear that, while Stock Yards Bancorp's revenue growth is expected to slow, it's expected to grow roughly in line with the industry.
我们可以从大局的角度看待这些估计值的另一种方式,例如预测如何与过去的表现相提并论,以及预测相对于业内其他公司是否或多或少看涨。很明显,预计Stock Yards Bancorp的收入增长将大幅放缓,预计到2024年底的收入按年计算将增长7.4%。相比之下,过去五年的历史增长率为18%。相比之下,该行业中其他692家拥有分析师覆盖的公司,预计这些公司的收入将以每年6.0%的速度增长。因此,很明显,尽管Stock Yards Bancorp的收入增长预计将放缓,但预计其增长将与行业大致持平。
The Bottom Line
底线
The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Stock Yards Bancorp following these results. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. The consensus price target held steady at US$54.20, with the latest estimates not enough to have an impact on their price targets.
这里最重要的是,分析师上调了每股收益预期,这表明公布这些业绩后,对Stock Yards Bancorp的乐观情绪明显增强。令人高兴的是,收入预测没有实际变化,预计该业务仍将与整个行业保持一致。共识目标股价稳定在54.20美元,最新估计不足以对其目标价格产生影响。
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Stock Yards Bancorp going out to 2025, and you can see them free on our platform here.
根据这种思路,我们认为该业务的长期前景比明年的收益重要得多。我们对Stock Yards Bancorp的预测将持续到2025年,你可以在我们的平台上免费查看。
It might also be worth considering whether Stock Yards Bancorp's debt load is appropriate, using our debt analysis tools on the Simply Wall St platform, here.
可能还值得考虑的是,在这里使用我们在Simply Wall St平台上的债务分析工具,Stock Yards Bancorp的债务负担是否合适。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。