FactSet Research Systems’ (FDS) fiscal Q2 financial results are expected to “modestly beat” consensus estimates, RBC Capital Markets said in a note Friday.
Consensus for the quarter is adjusted EPS of $3.85 on revenue of $546 million, lower than RBC’s estimated adjusted EPS of $4 on revenue of $547 million, RBC said. FactSet Research is set to report fiscal Q2 earnings on March 31.
For fiscal 2024, RBC said it expects FactSet to maintain its guidance for adjusted EPS of $15.60 to $16 on revenue of $2.20 billion to $2.21 billion.
“We expect FDS to reiterate their fiscal 2024 revenue guidance due to benefits from two customer wins in fiscal Q1, a wealth manager with [about] 17,000 seats, and Analytics win at a large US asset manager,” RBC said.
The investment bank said it forecasts fiscal 2024 adjusted EPS of $16.06 on revenue of $2.21 billion for FactSet, compared with the consensus of adjusted EPS of $15.92 on revenue of $2.21 billion.
RBC maintained its sector perform rating and $464 price target on FactSet stock.