Rating Change #3
Iberiabank Corp (IBKC) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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Highlights from the ratings report include:
- The revenue growth greatly exceeded the industry average of 30.1%. Since the same quarter one year prior, revenues slightly increased by 6.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 29.9% when compared to the same quarter one year prior, rising from $16.35 million to $21.23 million.
- Net operating cash flow has significantly increased by 84.02% to -$9.06 million when compared to the same quarter last year. In addition, IBERIABANK CORP has also vastly surpassed the industry average cash flow growth rate of -7.56%.
- The gross profit margin for IBERIABANK CORP is currently very high, coming in at 87.80%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, IBKC's net profit margin of 13.40% significantly trails the industry average.
- IBERIABANK CORP has improved earnings per share by 35.2% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, IBERIABANK CORP reported lower earnings of $1.85 versus $1.92 in the prior year. This year, the market expects an improvement in earnings ($2.59 versus $1.85).
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