Bank of New York Mellon (BK) Earnings Preview: What to Expect on October 11th
Get ready for the upcoming earnings release from Bank of New York Mellon (BK) on Friday, October 11th, 2024. As investors eagerly anticipate the announcement, let’s delve into what key factors to keep in mind.
Analysts are projecting an earnings per share (EPS) of $1.39 for the quarter. The market is buzzing with hopes that Bank of New York Mellon will not only surpass these estimates but also offer positive guidance for the next quarter. Remember, guidance can significantly influence stock prices, making it a crucial element for new investors to understand.
Looking Back at Past Performance
In the last quarter, Bank of New York Mellon exceeded EPS expectations by $0.08. However, this positive news wasn’t reflected in the stock price, which dropped by 0.0% the following day. Let’s take a closer look at the company’s past performance and the resulting price changes:
| Quarter | EPS Estimate | EPS Actual | Price Change (%) |
|—|—|—|—|
| Q2 2024 | 1.43 | 1.51 | 5.0% |
| Q1 2024 | 1.19 | 1.29 | 1.0% |
| Q4 2023 | 1.13 | 1.28 | 4.0% |
| Q3 2023 | 1.15 | 1.27 | -1.0% |
Tracking Bank of New York Mellon’s Stock Performance
As of October 9th, Bank of New York Mellon’s shares were trading at $74.02. Over the past 52 weeks, the stock has experienced a remarkable surge of 79.31%. This positive trend suggests that long-term shareholders are likely optimistic about the upcoming earnings release.
Analyst Insights and Market Sentiment
For investors, staying informed about market sentiments and expectations within the industry is essential. Let’s examine the latest insights on Bank of New York Mellon.
The consensus rating for Bank of New York Mellon is Neutral, based on 14 analyst ratings. The average one-year price target stands at $72.43, indicating a potential downside of 2.15%.
Peer Analysis: A Comparative Look
To gain a comprehensive understanding, let’s compare Bank of New York Mellon’s analyst ratings and price targets with three prominent industry players: Brookfield, T. Rowe Price Gr, and Blue Owl Cap.
| Company | Consensus | Average 1-Year Price Target | Potential Upside/Downside (%) |
|—|—|—|—|
| Brookfield | Outperform | $49.96 | -32.5% |
| T. Rowe Price Gr | Neutral | $110.83 | 49.73% |
| Blue Owl Cap | Outperform | $21.5 | -70.95% |
Key Takeaway:
Bank of New York Mellon ranks in the middle for revenue growth among its peers. However, it is at the bottom for gross profit. On a positive note, the company is at the top for return on equity.Get to Know Bank of New York Mellon Better
BNY Mellon is a global investment powerhouse, deeply involved in managing and servicing financial assets throughout the entire investment lifecycle. The bank provides financial services to institutions, corporations, and individual investors, offering investment management and investment services across 35 countries and over 100 markets. It holds the distinction of being the world’s largest global custody bank, safeguarding $47.8 trillion in assets under custody or administration (as of December 31, 2023). BNY Mellon acts as a single point of contact for clients seeking to create, trade, hold, manage, service, distribute, or restructure investments. Its asset-management division manages approximately $2.0 trillion in assets.
Bank of New York Mellon’s Economic Impact: An Analysis
Market Capitalization Analysis:
BNY Mellon’s market capitalization is significantly above industry averages, reflecting its substantial size and strong market recognition.Revenue Growth:
Bank of New York Mellon has demonstrated impressive revenue growth over the past three months. As of June 30, 2024, the company achieved a revenue growth rate of 2.2%. While this represents a notable increase in top-line earnings, it lags behind its peers in the Financials sector.Net Margin:
The company’s net margin is below industry standards, suggesting potential difficulties in achieving robust profitability. A net margin of 25.35% may indicate challenges in effective cost control.Return on Equity (ROE):
Bank of New York Mellon’s ROE is below industry benchmarks, signaling potential challenges in efficiently utilizing equity capital. With an ROE of 3.14%, the company may need to address these challenges to generate more satisfactory returns for shareholders.Return on Assets (ROA):
BNY Mellon’s ROA is also below industry standards, pointing to potential difficulties in effectively utilizing its assets. An ROA of 0.26% may suggest challenges in delivering satisfactory returns from its assets.Debt Management:
Bank of New York Mellon’s debt-to-equity ratio is below industry norms, indicating a sound financial structure. With a ratio of 0.86, the company demonstrates prudent debt management practices.To keep up with all earnings releases for Bank of New York Mellon, visit their earnings calendar on our site.
*This article was generated by Benzinga’s automated content engine and reviewed by an editor.*
