Digital banking company Axos Financial (NYSE: AX) will be announcing earnings results this Thursday after market hours. Here’s what to expect.
Axos Financial beat analysts’ revenue expectations last quarter, reporting revenues of $379.8 million, up 22.7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a narrow beat of analysts’ net interest income estimates.
Is Axos Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Axos Financial’s revenue to grow 19.5% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Axos Financial rarely misses Wall Street’s revenue estimates.
Looking at Axos Financial’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. OceanFirst Financial delivered year-on-year revenue growth of 79.8%, beating analysts’ expectations by 3.7%, and Byline Bancorp reported revenues up 4.6%, topping estimates by 3.7%. Byline Bancorp traded up 1.1% following the results.
Read our full analysis of OceanFirst Financial’s results here and Byline Bancorp’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Axos Financial is up 4.8% during the same time and is heading into earnings with an average analyst price target of $117.71 (compared to the current share price of $91.91).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
