The upcoming report from Chemung Financial (CHMG) is expected to reveal quarterly earnings of $1.08 per share, indicating a decline of 29.9% compared to the year-ago period. Analysts forecast revenues of $23.72 million, representing a decrease of 6.5% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Chemung Financial metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Net Interest Margin' stands at 2.7%. Compared to the current estimate, the company reported 3.1% in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Efficiency Ratio' of 69.7%. The estimate is in contrast to the year-ago figure of 62.4%.
Analysts expect 'Total Other Operating Income' to come in at $5.78 million. Compared to the current estimate, the company reported $5.42 million in the same quarter of the previous year.
Analysts' assessment points toward 'Net Interest Income' reaching $17.93 million. Compared to the current estimate, the company reported $19.95 million in the same quarter of the previous year.
View all Key Company Metrics for Chemung Financial here>>>
Shares of Chemung Financial have demonstrated returns of -5.9% over the past month compared to the Zacks S&P 500 composite's -0.9% change. With a Zacks Rank #3 (Hold), CHMG is expected to mirror 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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Unveiling Chemung Financial (CHMG) Q1 Outlook: Wall Street Estimates for Key Metrics
The upcoming report from Chemung Financial (CHMG) is expected to reveal quarterly earnings of $1.08 per share, indicating a decline of 29.9% compared to the year-ago period. Analysts forecast revenues of $23.72 million, representing a decrease of 6.5% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Chemung Financial metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Net Interest Margin' stands at 2.7%. Compared to the current estimate, the company reported 3.1% in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Efficiency Ratio' of 69.7%. The estimate is in contrast to the year-ago figure of 62.4%.
Analysts expect 'Total Other Operating Income' to come in at $5.78 million. Compared to the current estimate, the company reported $5.42 million in the same quarter of the previous year.
Analysts' assessment points toward 'Net Interest Income' reaching $17.93 million. Compared to the current estimate, the company reported $19.95 million in the same quarter of the previous year.
View all Key Company Metrics for Chemung Financial here>>>
Shares of Chemung Financial have demonstrated returns of -5.9% over the past month compared to the Zacks S&P 500 composite's -0.9% change. With a Zacks Rank #3 (Hold), CHMG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>