Why An Earnings Beat Is Likely For M&T Bank (MTB) In Q3?
Zacks Investment Research | Oct 15, 2017 09:29PM ET
M&T Bank Corporation (NYSE:MTB) is scheduled to report third-quarter 2017 results on Oct 18, before the opening bell. The company’s revenues and earnings are expected to show improvement from the year-ago quarter.
Last quarter, the company surpassed the Zacks Consensus Estimate for earnings. Results benefitted from an improvement in revenues. However, deteriorating credit quality was a major headwind.
Also, M&T Bank has a decent earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of 4.7%.
However, activities of the company in the third quarter failed to win analysts’ confidence. As a result, the Zacks Consensus Estimate for earnings of $2.40 has remained stable over the last 30 days. Nevertheless, the figure reflects a year-over-year improvement of 12.8%.
Further, the company’s Zacks Consensus Estimate for sales of $1.43 billion reflects an improvement of 5.7% on a year-over-year basis.
The company’s strong fundamentals have helped its shares gain 43.2% in the past year, outperforming the 38.5% growth for the Zacks Investment Research
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