Bridgewater Bancshares, Inc. (NASDAQ:BWB) Full-Year Results Just Came Out: Here's What Analysts Are Forecasting For This Year
Investors in Bridgewater Bancshares, Inc. (NASDAQ:BWB) had a good week, as its shares rose 3.5% to close at US$13.67 following the release of its full-year results. Bridgewater Bancshares reported US$112m in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$1.27 beat expectations, being 2.4% higher than what the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Check out our latest analysis for Bridgewater Bancshares
Following the latest results, Bridgewater Bancshares' dual analysts are now forecasting revenues of US$115.3m in 2024. This would be a modest 3.1% improvement in revenue compared to the last 12 months. Statutory earnings per share are expected to sink 15% to US$1.10 in the same period. In the lead-up to this report, the analysts had been modelling revenues of US$115.3m and earnings per share (EPS) of US$1.08 in 2024. So the consensus seems to have become somewhat more optimistic on Bridgewater Bancshares' earnings potential following these results.
The consensus price target was unchanged at US$15.75, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Bridgewater Bancshares' past performance and to peers in the same industry. It's pretty clear that there is an expectation that Bridgewater Bancshares' revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 3.1% growth on an annualised basis. This is compared to a historical growth rate of 16% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 5.6% annually. Factoring in the forecast slowdown in growth, it seems obvious that Bridgewater Bancshares is also expected to grow slower than other industry participants.
The Bottom Line
The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Bridgewater Bancshares' earnings potential next year. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Bridgewater Bancshares' revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have analyst estimates for Bridgewater Bancshares going out as far as 2025, and you can see them free on our platform here.
You can also see whether Bridgewater Bancshares is carrying too much debt, and whether its balance sheet is healthy, 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.
