The Q2 earnings season is in full swing and you must be keeping an eye on the companies that are set to announce their results. Today, we will be talking about a handful of savings and loan stocks that are slated to report tomorrow.
The Finance sector, one of the biggest sectors in the S&P 500 index, has been facing a challenging operating backdrop since the beginning of this year. A number of issues including the slowdown of the Chinese economy, a continued volatility in commodity prices, global growth uncertainties and doubts related to the Fed’s stance on interest rates have been plaguing the sector.
Per the latest Zacks Earnings Preview article, overall earnings for the S&P 500 stocks in the Finance sector, of which Savings & Loan institutions are part, are expected to be down 0.4% year over year for the second-quarter 2016.
Let’s check how the following savings and loan companies are expected to perform when they report their results on Jul 27.
The Zacks Consensus Estimate for Astoria Financial Corporation has remained steady over the past 30 days. The estimate of 15 cents reflects a year-over-year decline of 15.3%
Further, the company has a Zacks Rank #3 (Hold) along with an Earnings ESP of 0.00%, making it difficult to conclusively predict an earnings beat.
However, the company has delivered positive earnings surprises in all the trailing four quarters, with an average beat of 8.02%.
Dime Community Bancshares Inc.’s (DCOM - Free Report) Zacks Consensus Estimate of 30 cents has declined 3.3% over the last 30 days. The current estimate reflects a decline of 6.3% year over year.
The company’s Zacks Rank #3 and Earnings ESP of 0.00% makes it difficult to conclusively predict an earnings beat for the quarter.
Nonetheless, Dime Community boasts an average positive earnings surprise of 6.1% in the trailing four quarters.
EverBank Financial Corp.’s (EVER - Free Report) Zacks Consensus Estimate rose 2.8% over the last 30 days. The estimate of 36 cents reflects a year-over-year growth of 1.7%.
Moreover, the company holds a Zacks Rank #3 along with an Earnings ESP of +5.56%. Thus, the chances of reporting an earnings beat this quarter is quite high.
However, in spite of reporting a positive earnings surprise in two of the trailing four quarters, EverBank posted a negative average surprise of 5.8%.
The Zacks Consensus Estimate of 14 cents for Investors Bancorp Inc. (ISBC - Free Report) has remained constant over the last 30 days. This earnings estimate is same as the year-ago reported number.
Additionally, Investors Bancorp holds a Zacks Rank #3 and an Earnings ESP of 0.00%. Thus, our quantitative model cannot conclusively predict earnings beat for the quarter.
Nevertheless, the company boasts a decent earnings surprise history.
New York Community Bancorp Inc.’s (NYCB - Free Report) Zacks Consensus Estimate has remained stable over the past 30 days at 28 cents. This estimate, however, reflects a year-over-year decline of 7.6%.
Notably, the company holds a Zacks Rank #3 along with an Earnings ESP of 0.00%. Thus, we cannot conclusively predict earnings beat.
New York Community Bancorp posted an average beat of 6.7% in the trailing four quarters.
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