The upcoming report from Washington Trust Bancorp (WASH) is expected to reveal quarterly earnings of $0.46 per share, indicating a decline of 28.1% compared to the year-ago period. Analysts forecast revenues of $54.91 million, representing an increase of 13.1% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Washington Trust metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Efficiency Ratio' reaching 67.0%. Compared to the present estimate, the company reported 71.1% in the same quarter last year.
The combined assessment of analysts suggests that 'Total noninterest income' will likely reach $16.57 million. The estimate compares to the year-ago value of $16.27 million.
Analysts predict that the 'Net Interest Income' will reach $38.36 million. Compared to the present estimate, the company reported $32.26 million in the same quarter last year.
View all Key Company Metrics for Washington Trust here>>>
Shares of Washington Trust have experienced a change of -6.6% in the past month compared to the +1% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), WASH is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Washington Trust Bancorp, Inc. (WASH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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