F.N.B. Corporation (NYSE:FNB) Just Released Its First-Quarter Earnings: Here's What Analysts Think

The first-quarter results for F.N.B. Corporation (NYSE:FNB) were released last week, making it a good time to revisit its performance. Revenues of US$407m were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at US$0.32, missing estimates by 4.6%. 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.

View our latest analysis for F.N.B

Taking into account the latest results, the most recent consensus for F.N.B from eight analysts is for revenues of US$1.66b in 2024. If met, it would imply a decent 11% increase on its revenue over the past 12 months. Per-share earnings are expected to ascend 13% to US$1.41. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$1.66b and earnings per share (EPS) of US$1.44 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The analysts reconfirmed their price target of US$15.78, showing that the business is executing well and in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on F.N.B, with the most bullish analyst valuing it at US$18.00 and the most bearish at US$15.00 per share. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the F.N.B's past performance and to peers in the same industry. It's clear from the latest estimates that F.N.B's rate of growth is expected to accelerate meaningfully, with the forecast 15% annualised revenue growth to the end of 2024 noticeably faster than its historical growth of 6.9% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 5.8% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect F.N.B to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still 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.

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. At Simply Wall St, we have a full range of analyst estimates for F.N.B going out to 2025, and you can see them free on our platform here..

It might also be worth considering whether F.N.B's debt load is appropriate, using our debt analysis tools on the Simply Wall St 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.