Here's What Analysts Are Forecasting For County Bancorp, Inc. After Its Full-Year Results
As you might know, County Bancorp, Inc. (NASDAQ:ICBK) recently reported its yearly numbers. Results were roughly in line with estimates, with revenues of US$54m and statutory earnings per share of US$2.36. Analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what analysts' statutory forecasts suggest is in store for next year.
View our latest analysis for County Bancorp
After the latest results, the consensus from County Bancorp's six analysts is for revenues of US$51.4m in 2020, which would reflect a measurable 4.4% decline in sales compared to the last year of performance. Statutory earnings per share are expected to sink 19% to US$1.92 in the same period. Yet prior to the latest earnings, analysts had been forecasting revenues of US$53.5m and earnings per share (EPS) of US$1.92 in 2020. So it looks like analysts have become a bit less optimistic after the latest results announcement, with revenues expected to fall even as the company is expected to maintain EPS.
The consensus has reconfirmed its price target of US$26.67, showing that analysts don't expect weaker sales expectations next year to have a material impact on County Bancorp's market value. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on County Bancorp, with the most bullish analyst valuing it at US$30.00 and the most bearish at US$23.00 per share. Still, with such a tight range of estimates, it suggests analysts have a pretty good idea of what they think the company is worth.
In addition, we can look to County Bancorp's past performance and see whether business is expected to improve, and if the company is expected to perform better than wider market. These estimates imply that sales are expected to slow, with a forecast revenue decline of 4.4% a significant reduction from annual growth of 11% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same market are forecast to see their revenue grow 4.9% annually for the foreseeable future. It's pretty clear that County Bancorp's revenues are expected to perform substantially worse than the wider market.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with analysts reconfirming that earnings per share are expected to continue performing in line with their prior expectations. Unfortunately, analysts also downgraded their revenue estimates, and our data indicates revenues are expected to perform worse than the wider market. Even so, earnings per share are more important to the intrinsic value of the business. Even so, earnings are more important to the intrinsic value of the business. The consensus price target held steady at US$26.67, with the latest estimates not enough to have an impact on analysts' estimated valuations.
Still, the long-term prospects of the business are much more relevant than next year's earnings. At Simply Wall St, we have a full range of analyst estimates for County Bancorp going out to 2021, and you can see them free on our platform here..
We also provide an overview of the County Bancorp Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
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