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Axos Financial, Inc. (NYSE:AX) last week reported its latest full-year results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. Revenues came in 4.0% below expectations, at US$620m. Statutory earnings per share were relatively better off, with a per-share profit of US$3.56 being roughly in line with analyst estimates. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
See our latest analysis for Axos Financial
Taking into account the latest results, the most recent consensus for Axos Financial from five analysts is for revenues of US$695.8m in 2022 which, if met, would be a notable 12% increase on its sales over the past 12 months. Statutory earnings per share are expected to decrease 2.5% to US$3.55 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$702.9m and earnings per share (EPS) of US$3.57 in 2022. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.
It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$55.50. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Axos Financial, with the most bullish analyst valuing it at US$60.00 and the most bearish at US$52.00 per share. This is a very narrow spread of estimates, implying either that Axos Financial is an easy company to value, or - more likely - the analysts are relying heavily on some key assumptions.
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. The period to the end of 2022 brings more of the same, according to the analysts, with revenue forecast to display 12% growth on an annualised basis. That is in line with its 13% annual growth over the past five years. Compare this with the broader industry (in aggregate), which analyst estimates suggest will see revenues fall 3.1% per year. So not only is Axos Financial expected to maintain its revenue growth despite the wider downturn, it's also forecast to grow faster than the industry as a whole.