Bank of New York Mellon (BK) to Release Quarterly Earnings on Wednesday
Bank of New York Mellon (NYSE:BK) is set to release its earnings data before the market opens on Wednesday, April 17th. Analysts expect Bank of New York Mellon to post earnings of $0.99 per share for the quarter.
Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 16th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.07. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Bank of New York Mellon’s revenue was up 7.5% on a year-over-year basis. On average, analysts expect Bank of New York Mellon to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
BK opened at $52.60 on Tuesday. Bank of New York Mellon has a 12-month low of $43.67 and a 12-month high of $58.22. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.87. The stock has a market cap of $50.26 billion, a P/E ratio of 12.49, a PEG ratio of 1.48 and a beta of 1.03.
Several research firms recently issued reports on BK. Zacks Investment Research reissued a “hold” rating on shares of Bank of New York Mellon in a research note on Monday, December 31st. Deutsche Bank increased their target price on Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $52.00 in a research note on Wednesday, January 9th. Finally, Vining Sparks reissued a “buy” rating and set a $55.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Bank of New York Mellon presently has an average rating of “Hold” and an average price target of $56.14.
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Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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