As you may know, Amelis Bancorp (NASDAQ:ABCB) released its latest annual report last week, which didn’t do too well for shareholders. Earnings fell 6.4% below analyst estimates of US$1 billion, while statutory earnings came in at US$4.99 per share, 3.1% below expectations. Following the results, analysts updated their earnings model. It’s good to know if you think there’s been a big change in the company’s outlook or if it’s business as usual. You would think
Check out the latest analysis from Ameris Bancorp.
Taking into account the latest results, the consensus forecast from five analysts at Ameris Bancorp is US$1.16 billion in revenue in 2023, a 14% increase in sales compared to the last 12 months. It reflects that. Earnings per share are expected to increase 5.2% to US$5.27. Leading up to this report, analysts had projected 2023 earnings for him at $1.16 billion and earnings per share (EPS) for him at $5.39. Analysts seem a little more negative about the business following the latest results. Given the slightly downgraded earnings per share numbers next year,
Analysts revised their earnings forecasts for next year, but raised their consensus price target by 7.5% to $60.20. However, there is another way to think about price targets. That is to look at the range of price targets put forward by analysts. This is because broad estimates can suggest diverse views about the possible outcomes of a business. Ameris Bancorp has several different perceptions, with the most bullish analyst valuing it at US$63.00 and the weakest analyst valuing it at US$56.00 per share. Analysts seem to share a similar view of business value, given the very narrow range of valuations.
One way to get more context for these projections is to compare historical performance and the performance of other companies in the same situation. The industry is thriving. Ameris Bancorp’s revenue growth is expected to slow, emphasizing that its projected 14% annualized growth rate to the end of 2023 is well below its historic 22% annualized growth rate over the past five years. Put. By way of comparison, other companies covering analysts in this industry are projected to see 6.5% annual revenue growth. So while Ameris Bancorp’s revenue growth is expected to slow, it is clearly expected to grow faster than the industry itself.
The most important thing to take away is that analysts lowered their earnings-per-share estimates. Fortunately, earnings forecasts have not changed significantly, and the business is still expected to grow faster than the industry as a whole. It suggests that you think there is a high possibility of improvement.
That said, the long-term trajectory of the company’s earnings is much more important than next year. Here are his predictions for 2024 from Ameris Bancorp. Watch it for free on our platform here.
It is also worth noting that we found Ameris Bancorp One Warning Sign what you need to consider.
What are the risks and opportunities Amelis Bancorp?
Ameris Bancorp operates as the bank holding company of Ameris Bank, providing a variety of banking services primarily to retail and commercial customers in Georgia, Alabama, Florida, North Carolina and South Carolina.
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Traded 47% below estimated fair value
Revenue is projected to grow 4.03% annually
Significant insider sales in the last 3 months
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This article by Simply Wall St is general in nature. We provide comments based on historical data and analyst projections using only unbiased methodologies and our articles are not intended as financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. We aim to deliver long-term focused analysis based on fundamental data. Please note that our analysis may not take into account the latest price-sensitive company announcements or qualitative materials. Is not …