|
|
|
|
|||||
|
|
|
Investors might want to bet on Flushing Financial (FFIC), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.
The upward trend in estimate revisions for this holding company for Flushing Bank reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for Flushing Financial, as there has been strong agreement among the covering analysts in raising estimates.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
For the current quarter, the company is expected to earn $0.35 per share, which is a change of +150.0% from the year-ago reported number.
Over the last 30 days, two estimates have moved higher for Flushing Financial compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 15%.
For the full year, the company is expected to earn $1.24 per share, representing a year-over-year change of +69.9%.
The revisions trend for the current year also appears quite promising for Flushing Financial, with two estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 5.68%.
The promising estimate revisions have helped Flushing Financial earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
While strong estimate revisions for Flushing Financial have attracted decent investments and pushed the stock 5.8% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).
| 5 hours | |
| Nov-04 | |
| Oct-29 | |
| Oct-29 | |
| Oct-29 | |
| Oct-29 | |
| Oct-28 | |
| Oct-27 | |
| Oct-23 | |
| Jul-28 | |
| Jul-24 | |
| Jul-24 | |
| Jul-24 | |
| Jul-23 | |
| Jul-23 |
Join thousands of traders who make more informed decisions with our premium features. Real-time quotes, advanced visualizations, backtesting, and much more.
Learn more about FINVIZ*Elite