The upcoming report from OceanFirst Financial (OCFC) is expected to reveal quarterly earnings of $0.42 per share, indicating a decline of 23.6% compared to the year-ago period. Analysts forecast revenues of $95.45 million, representing a decrease of 5.4% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 3.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some OceanFirst metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Efficiency Ratio' will reach 61.7%. Compared to the present estimate, the company reported 60.8% in the same quarter last year.
According to the collective judgment of analysts, 'Net Interest Margin' should come in at 2.8%. Compared to the current estimate, the company reported 3.3% in the same quarter of the previous year.
The average prediction of analysts places 'Total interest-earning assets - Average Balance' at $12.35 billion. Compared to the present estimate, the company reported $12.01 billion in the same quarter last year.
Analysts expect 'Net Interest Income' to come in at $85.67 million. Compared to the present estimate, the company reported $98.80 million in the same quarter last year.
It is projected by analysts that the 'Fees and service charges' will reach $5.21 million. Compared to the current estimate, the company reported $5.16 million in the same quarter of the previous year.
View all Key Company Metrics for OceanFirst here>>>
Shares of OceanFirst have demonstrated returns of -1.6% over the past month compared to the Zacks S&P 500 composite's -0.9% change. With a Zacks Rank #4 (Sell), OCFC is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Countdown to OceanFirst (OCFC) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS
The upcoming report from OceanFirst Financial (OCFC) is expected to reveal quarterly earnings of $0.42 per share, indicating a decline of 23.6% compared to the year-ago period. Analysts forecast revenues of $95.45 million, representing a decrease of 5.4% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 3.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some OceanFirst metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Efficiency Ratio' will reach 61.7%. Compared to the present estimate, the company reported 60.8% in the same quarter last year.
According to the collective judgment of analysts, 'Net Interest Margin' should come in at 2.8%. Compared to the current estimate, the company reported 3.3% in the same quarter of the previous year.
The average prediction of analysts places 'Total interest-earning assets - Average Balance' at $12.35 billion. Compared to the present estimate, the company reported $12.01 billion in the same quarter last year.
Analysts expect 'Net Interest Income' to come in at $85.67 million. Compared to the present estimate, the company reported $98.80 million in the same quarter last year.
It is projected by analysts that the 'Fees and service charges' will reach $5.21 million. Compared to the current estimate, the company reported $5.16 million in the same quarter of the previous year.
View all Key Company Metrics for OceanFirst here>>>
Shares of OceanFirst have demonstrated returns of -1.6% over the past month compared to the Zacks S&P 500 composite's -0.9% change. With a Zacks Rank #4 (Sell), OCFC is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>