Zacks: Brokerages Anticipate Home Bancshares Inc (HOMB) Will Announce Quarterly Sales of $171.67 Million

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Wall Street analysts expect Home Bancshares Inc (NASDAQ:HOMB) to announce $171.67 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Home Bancshares’ earnings, with the highest sales estimate coming in at $172.70 million and the lowest estimate coming in at $170.20 million. Home Bancshares posted sales of $128.23 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.9%. The company is scheduled to issue its next earnings results before the market opens on Thursday, October 18th.

On average, analysts expect that Home Bancshares will report full year sales of $674.63 million for the current fiscal year, with estimates ranging from $669.80 million to $678.00 million. For the next financial year, analysts anticipate that the business will report sales of $721.57 million, with estimates ranging from $715.90 million to $726.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Home Bancshares.

Home Bancshares (NASDAQ:HOMB) last released its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. Home Bancshares had a net margin of 26.27% and a return on equity of 11.41%. The firm had revenue of $166.29 million during the quarter, compared to the consensus estimate of $167.50 million. During the same quarter in the prior year, the firm earned $0.35 EPS.

Several research firms recently weighed in on HOMB. ValuEngine upgraded shares of Home Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Zacks Investment Research downgraded shares of Home Bancshares from a “buy” rating to a “hold” rating in a report on Monday, September 3rd. BidaskClub downgraded shares of Home Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Finally, Citigroup assumed coverage on shares of Home Bancshares in a report on Monday, June 18th. They issued a “buy” rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Home Bancshares has a consensus rating of “Hold” and a consensus target price of $27.17.

Shares of HOMB traded down $0.52 during mid-day trading on Wednesday, hitting $20.30. 1,532,212 shares of the company were exchanged, compared to its average volume of 757,034. Home Bancshares has a 1-year low of $19.83 and a 1-year high of $25.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market cap of $3.83 billion, a PE ratio of 15.04 and a beta of 1.11.

In other Home Bancshares news, insider Jennifer C. Floyd sold 2,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $23.88, for a total value of $47,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.15% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in HOMB. Bank of Montreal Can acquired a new stake in shares of Home Bancshares during the 2nd quarter worth approximately $184,000. Signition LP acquired a new stake in shares of Home Bancshares during the 2nd quarter worth approximately $206,000. Sciencast Management LP acquired a new stake in shares of Home Bancshares during the 1st quarter worth approximately $209,000. OppenheimerFunds Inc. acquired a new stake in shares of Home Bancshares during the 2nd quarter worth approximately $214,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Home Bancshares during the 2nd quarter worth approximately $249,000. Institutional investors own 64.36% of the company’s stock.

About Home Bancshares

Home Bancshares, Inc (Conway, AR) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals, and municipalities. Its deposit products include checking, savings, NOW, and money market accounts, as well as certificates of deposit.

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Earnings History and Estimates for Home Bancshares (NASDAQ:HOMB)

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