Wall Street analysts forecast that OceanFirst Financial (OCFC) will report quarterly earnings of $0.39 per share in its upcoming release, pointing to a year-over-year increase of 2.6%. It is anticipated that revenues will amount to $102.7 million, exhibiting an increase of 7.5% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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.
In light of this perspective, let's dive into the average estimates of certain OceanFirst metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Efficiency Ratio' to reach 68.9%. The estimate is in contrast to the year-ago figure of 67.9%.
The consensus among analysts is that 'Total Non-Interest Income' will reach $8.85 million. The estimate compares to the year-ago value of $12.23 million.
Based on the collective assessment of analysts, 'Net Interest Income' should arrive at $94.35 million. The estimate compares to the year-ago value of $83.33 million.
View all Key Company Metrics for OceanFirst here>>>
OceanFirst shares have witnessed a change of -9.2% in the past month, in contrast to the Zacks S&P 500 composite's -0.4% move. With a Zacks Rank #4 (Sell), OCFC is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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OceanFirst Financial Corp. (OCFC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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