Analysts Are Updating Their Citizens & Northern Corporation (NASDAQ:CZNC) Estimates After Its Full-Year Results
Citizens & Northern Corporation (NASDAQ:CZNC) came out with its yearly results last week, and we wanted to see how the business is performing and what industry forecasters think of the company following this report. It looks like the results were a bit of a negative overall. While revenues of US$105m were in line with analyst predictions, statutory earnings were less than expected, missing estimates by 4.6% to hit US$1.57 per share. The 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. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Citizens & Northern after the latest results.
See our latest analysis for Citizens & Northern
Taking into account the latest results, the most recent consensus for Citizens & Northern from dual analysts is for revenues of US$109.0m in 2024. If met, it would imply an okay 4.2% increase on its revenue over the past 12 months. Statutory per-share earnings are expected to be US$1.58, roughly flat on the last 12 months. In the lead-up to this report, the analysts had been modelling revenues of US$107.7m and earnings per share (EPS) of US$1.61 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
There were no changes to revenue or earnings estimates or the price target of US$21.50, suggesting that the company has met expectations in its recent result.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. We would highlight that Citizens & Northern's revenue growth is expected to slow, with the forecast 4.2% annualised growth rate until the end of 2024 being well below the historical 9.9% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 5.3% per year. Factoring in the forecast slowdown in growth, it seems obvious that Citizens & Northern is also expected to grow slower than other industry participants.
The Bottom Line
The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$21.50, with the latest estimates not enough to have an impact on their price targets.
With that in mind, we wouldn't be too quick to come to a conclusion on Citizens & Northern. Long-term earnings power is much more important than next year's profits. We have analyst estimates for Citizens & Northern going out as far as 2025, and you can see them free on our platform here.
You can also view our analysis of Citizens & Northern's balance sheet, and whether we think Citizens & Northern is carrying too much debt, for free on our platform here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
