Washington Federal (WAFD) Beats Q1 Earnings and Income Estimates

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Washington Federal (WAFD) Beats Q1 Earnings and Income Estimates

Washington Federal (WAFD) got here out with quarterly earnings of $0.51 per share, beating the Zack


Washington Federal (WAFD) got here out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.58 per share a yr in the past. These figures are adjusted for non-recurring objects.

This quarterly report represents an earnings shock of 21.43%. 1 / 4 in the past, it was anticipated that this holding firm for Washington Federal Financial savings Financial institution would publish earnings of $0.42 per share when it truly produced earnings of $0.45, delivering a shock of seven.14%.

During the last 4 quarters, the corporate has surpassed consensus EPS estimates two instances.

Washington Federal, which belongs to the Zacks Banks – Northeast trade, posted revenues of $134.38 million for the quarter ended December 2020, surpassing the Zacks Consensus Estimate by 5.32%. This compares to year-ago revenues of $166.06 million. The corporate has topped consensus income estimates two instances over the past 4 quarters.

The sustainability of the inventory’s rapid worth motion based mostly on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.

Washington Federal shares have added about 8.6% for the reason that starting of the yr versus the S&P 500’s acquire of 1.4%.

What’s Subsequent for Washington Federal?

Whereas Washington Federal has outperformed the market to date 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 handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.

Empirical analysis exhibits 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 ranking instrument just like the Zacks Rank, which has a formidable observe report of harnessing the facility of earnings estimate revisions.

Forward of this earnings launch, the estimate revisions development for Washington Federal was unfavorable. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #5 (Sturdy Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You’ll be able to see the whole record of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.

Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.54 on $139.50 million in revenues for the approaching quarter and $1.64 on $520.20 million in revenues for the present fiscal yr.

Buyers needs to be aware of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as properly. When it comes to the Zacks Trade Rank, Banks – Northeast is at the moment within the high 26% 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.

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