Northfield Bancorp (NFBK) got here out with quarterly earnings of $0.16 per share, in step with the Zacks Consensus Estimate. This compares to earnings of $0.19 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
1 / 4 in the past, it was anticipated that this holding firm for Northfield Financial institution would publish earnings of $0.14 per share when it really produced earnings of $0.17, delivering a shock of 21.43%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
Northfield
The sustainability of the inventory’s quick value motion based mostly on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
Northfield shares have misplaced about 5.1% because the starting of the yr versus the S&P 500’s acquire of twenty-two.7%.
What’s Subsequent for Northfield?
Whereas Northfield has underperformed the market to this point this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis exhibits a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a powerful monitor document of harnessing the ability of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Northfield: favorable. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You possibly can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.18 on $32.85 million in revenues for the approaching quarter and $0.67 on $127.27 million in revenues for the present fiscal yr.
Buyers needs to be aware of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as properly. When it comes to the Zacks Trade Rank, Monetary – Financial savings and Mortgage is at the moment within the prime 22% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the identical business, Provident Monetary (PFS), is but to report outcomes for the quarter ended September 2024. The outcomes are anticipated to be launched on October 29.
This holding firm for The Provident Financial institution is anticipated to publish quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of +21.1%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.
Provident Monetary’s revenues are anticipated to be $211.25 million, up 82.8% from the year-ago quarter.
Ought to You Put money into Northfield Bancorp, Inc. (NFBK)?
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Northfield Bancorp, Inc. (NFBK) : Free Stock Analysis Report
Provident Financial Services, Inc (PFS) : Free Stock Analysis Report
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