BNY (BNY) Q2 Earnings: What To Expect

Global financial services company BNY NYSE:BNY) will be reporting earnings this Wednesday morning. Here’s what investors should know.

BNY beat analysts’ revenue expectations last quarter, reporting revenues of $5.41 billion, up 13.8% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.

Is BNY 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 BNY’s revenue to grow 7.5% year on year, slowing from the 9.4% increase it recorded 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. BNY has a history of exceeding Wall Street’s expectations.

Looking at BNY’s peers in the capital markets segment, some have already reported their Q2 results, giving us a hint as to what we can expect. FactSet delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 1.1%, and Jefferies reported revenues up 35%, falling short of estimates by 3.1%.

Read our full analysis of FactSet’s results here and Jefferies’s results here.

There has been positive sentiment among investors in the capital markets segment, with share prices up 3.5% on average over the last month. BNY is up 5.3% during the same time and is heading into earnings with an average analyst price target of $153.86 (compared to the current share price of $150.00).

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