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The upcoming report from OceanFirst Financial (OCFC) is expected to reveal quarterly earnings of $0.36 per share, indicating a decline of 20% compared to the year-ago period. Analysts forecast revenues of $95.7 million, representing a decrease of 4% year over year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some OceanFirst metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Average Balance - Total interest-earning assets' will reach $12.32 billion. Compared to the current estimate, the company reported $12.35 billion in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Total Non-Interest Income' should arrive at $12.45 million. Compared to the current estimate, the company reported $11.86 million in the same quarter of the previous year.
The average prediction of analysts places 'Net Interest Income' at $82.91 million. The estimate is in contrast to the year-ago figure of $87.82 million.
According to the collective judgment of analysts, 'Fees and service charges' should come in at $6.05 million. Compared to the present estimate, the company reported $5.32 million in the same quarter last year.
View all Key Company Metrics for OceanFirst here>>>
Shares of OceanFirst have experienced a change of +5.5% in the past month compared to the -0.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), OCFC 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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