Investment banking firm Evercore (NYSE:EVR) will be reporting earnings this Wednesday morning. Here’s what you need to know.
Evercore beat analysts’ revenue expectations by 6.9% last quarter, reporting revenues of $1.05 billion, up 41.6% year on year. It was a very strong quarter for the company, with and .
Is Evercore a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Evercore’s revenue to grow 14% year on year to $1.12 billion, slowing from the 24.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.05 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Evercore has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 7.8% on average.
Looking at Evercore’s peers in the investment banking & brokerage segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Lazard delivered year-on-year revenue growth of 9.8%, beating analysts’ expectations by 9.5%, and Jefferies reported revenues up 5.7%, topping estimates by 3%. Lazard traded up 2.1% following the results while Jefferies was down 5.6%.
Read our full analysis of Lazard’s results here and Jefferies’s results here.
Investors in the investment banking & brokerage segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Evercore is down 2.7% during the same time and is heading into earnings with an average analyst price target of $386.40 (compared to the current share price of $354.85).
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