Gear Up for ConnectOne (CNOB) Q4 Earnings: Wall Street Estimates for Key Metrics
Analysts on Wall Street project that ConnectOne Bancorp (CNOB) will announce quarterly earnings of $0.47 per share in its forthcoming report, representing a decline of 40.5% year over year. Revenues are projected to reach $65.5 million, declining 19.7% from the same quarter last 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 reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some ConnectOne metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Efficiency Ratio' of 55.0%. The estimate is in contrast to the year-ago figure of 39.9%.
The consensus estimate for 'Net Interest Margin (GAAP)' stands at 2.7%. The estimate is in contrast to the year-ago figure of 3.5%.
Analysts' assessment points toward 'Average Balance - Total interest-earning assets' reaching $9.13 billion. The estimate compares to the year-ago value of $8.97 billion.
It is projected by analysts that the 'Total Noninterest Income' will reach $3.93 million. Compared to the present estimate, the company reported $3.51 million in the same quarter last year.
View all Key Company Metrics for ConnectOne here>>>
Shares of ConnectOne have demonstrated returns of -1.6% over the past month compared to the Zacks S&P 500 composite's +1.6% change. With a Zacks Rank #3 (Hold), CNOB 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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ConnectOne Bancorp, Inc. (CNOB) : Free Stock Analysis Report
