$329.62 Million in Sales Expected for Cullen/Frost Bankers, Inc. (CFR) This Quarter
Wall Street brokerages predict that Cullen/Frost Bankers, Inc. (NYSE:CFR) will post $329.62 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Cullen/Frost Bankers’ earnings, with estimates ranging from $302.30 million to $348.00 million. Cullen/Frost Bankers reported sales of $276.62 million in the same quarter last year, which indicates a positive year over year growth rate of 19.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Cullen/Frost Bankers will report full-year sales of $329.62 million for the current year, with estimates ranging from $1.20 billion to $1.37 billion. For the next year, analysts anticipate that the firm will report sales of $1.38 billion per share, with estimates ranging from $1.26 billion to $1.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Cullen/Frost Bankers.
Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $1.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.29. Cullen/Frost Bankers had a net margin of 28.49% and a return on equity of 11.23%. The firm had revenue of $295.87 million for the quarter, compared to the consensus estimate of $316.40 million. During the same period in the prior year, the firm posted $1.11 earnings per share.
A number of research firms recently weighed in on CFR. Maxim Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Cullen/Frost Bankers in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Raymond James Financial, Inc. lowered shares of Cullen/Frost Bankers from a “market perform” rating to an “underperform” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $100.00 target price on shares of Cullen/Frost Bankers in a research report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $97.50.
COPYRIGHT VIOLATION NOTICE: This story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/24/329-62-million-in-sales-expected-for-cullenfrost-bankers-inc-cfr-this-quarter.html.
Several large investors have recently added to or reduced their stakes in CFR. Parallax Volatility Advisers L.P. raised its stake in shares of Cullen/Frost Bankers by 124.1% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,087 shares of the bank’s stock worth $102,000 after buying an additional 602 shares during the last quarter. Invictus RG acquired a new position in shares of Cullen/Frost Bankers during the 1st quarter worth $109,000. Tower Research Capital LLC TRC acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $114,000. Westwood Holdings Group Inc. acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $131,000. Finally, Fiduciary Trust Co. acquired a new position in shares of Cullen/Frost Bankers during the 2nd quarter worth $136,000. 80.62% of the stock is owned by institutional investors and hedge funds.
Shares of Cullen/Frost Bankers (CFR) traded up 0.84% during mid-day trading on Tuesday, reaching $98.72. 152,634 shares of the company were exchanged. Cullen/Frost Bankers has a 12 month low of $72.96 and a 12 month high of $99.60. The stock has a market capitalization of $6.34 billion, a P/E ratio of 19.45 and a beta of 1.35. The stock has a 50 day moving average price of $92.45 and a 200-day moving average price of $91.97.
About Cullen/Frost Bankers
Cullen/Frost Bankers, Inc is a financial holding company and a bank holding company. The Company, through its subsidiaries, provides a range of products and services throughout Texas markets. The Company’s segments include Banking, Frost Wealth Advisors and Non-Banks. The Banking segment includes both commercial and consumer banking services, and Frost Insurance Agency.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cullen/Frost Bankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.