Flushing Monetary (FFIC) got here out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.19 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 17.39%. 1 / 4 in the past, it was anticipated that this holding firm for Flushing Financial institution would submit earnings of $0.46 per share when it truly produced earnings of $0.58, delivering a shock of 26.09%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Flushing Monetary, which belongs to the Zacks Monetary – Financial savings and Mortgage trade, posted revenues of $67.2 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 13.14%. This compares to year-ago revenues of $37.96 million. The corporate has topped consensus income estimates simply as soon as over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
Flushing Monetary shares have added about 34.5% for the reason that starting of the yr versus the S&P 500’s acquire of 11.5%.
What’s Subsequent for Flushing Monetary?
Whereas Flushing Monetary has outperformed the market up to now this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders deal with 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 these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful observe document of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Flushing Monetary was blended. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You may see the whole listing of in the present day’s Zacks #1 Rank (Robust Purchase) shares right here.
It is going to 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 $0.51 on $60.Three million in revenues for the approaching quarter and $2.08 on $240.45 million in revenues for the present fiscal yr.
Buyers needs to be conscious of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as nicely. When it comes to the Zacks Trade Rank, Monetary – Financial savings and Mortgage is presently within the prime 19% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Flushing Monetary Company (FFIC): Free Inventory Evaluation Report
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