SpareBank 1 Nord-Norge (OB:NONG) Second-Quarter Results: Here's What Analysts Are Forecasting For This Year

SpareBank 1 Nord-Norge (OB:NONG) came out with its quarterly results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. Results overall were respectable, with statutory earnings of kr3.32 per share roughly in line with what the analysts had forecast. Revenues of kr1.5b came in 2.4% ahead of analyst predictions. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

See our latest analysis for SpareBank 1 Nord-Norge

After the latest results, the four analysts covering SpareBank 1 Nord-Norge are now predicting revenues of kr5.74b in 2024. If met, this would reflect an okay 3.3% improvement in revenue compared to the last 12 months. Yet prior to the latest earnings, the analysts had been anticipated revenues of kr5.74b and earnings per share (EPS) of kr13.19 in 2024. So we can see that while the consensus made no real change to its revenue estimates, it also no longer provides an earnings per share estimate. This suggests that revenues are what the market is focusing on after the latest results.

There's been no real change to the consensus price target of kr114, with SpareBank 1 Nord-Norge seemingly executing in line with expectations. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on SpareBank 1 Nord-Norge, with the most bullish analyst valuing it at kr120 and the most bearish at kr102 per share. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 6.8% growth on an annualised basis. That is in line with its 6.7% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 0.8% annually. So it's pretty clear that SpareBank 1 Nord-Norge is forecast to grow substantially faster than its industry.

The Bottom Line

The most important thing to take away is that the analysts reconfirmed their revenue estimates for next year, suggesting that the business is performing in line with expectations. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

At least one of SpareBank 1 Nord-Norge's four analysts has provided estimates out to 2026, which can be seen for free on our platform here.

You can also see whether SpareBank 1 Nord-Norge is carrying too much debt, and whether its balance sheet is healthy, for free on our platform here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.