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Chemung Financial (CHMG) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended March 2024, Chemung Financial (CHMG - Free Report) reported revenue of $23.75 million, down 6.4% over the same period last year. EPS came in at $1.48, compared to $1.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $23.72 million, representing a surprise of +0.13%. The company delivered an EPS surprise of +37.04%, with the consensus EPS estimate being $1.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Chemung Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 70.3% compared to the 69.7% average estimate based on two analysts.
Net Charge-Offs/average loans: 0% compared to the 0.1% average estimate based on two analysts.
Net Interest Margin: 2.7% compared to the 2.7% average estimate based on two analysts.
Total Other Operating Income: $5.66 million versus $5.78 million estimated by two analysts on average.
Net Interest Income: $18.09 million compared to the $17.93 million average estimate based on two analysts.
Shares of Chemung Financial have returned -5.6% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Chemung Financial (CHMG) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended March 2024, Chemung Financial (CHMG - Free Report) reported revenue of $23.75 million, down 6.4% over the same period last year. EPS came in at $1.48, compared to $1.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $23.72 million, representing a surprise of +0.13%. The company delivered an EPS surprise of +37.04%, with the consensus EPS estimate being $1.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Chemung Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 70.3% compared to the 69.7% average estimate based on two analysts.
- Net Charge-Offs/average loans: 0% compared to the 0.1% average estimate based on two analysts.
- Net Interest Margin: 2.7% compared to the 2.7% average estimate based on two analysts.
- Total Other Operating Income: $5.66 million versus $5.78 million estimated by two analysts on average.
- Net Interest Income: $18.09 million compared to the $17.93 million average estimate based on two analysts.
View all Key Company Metrics for Chemung Financial here>>>Shares of Chemung Financial have returned -5.6% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.