OceanFirst Financial OCFC announces its next round of earnings this Thursday, July 29. Here is Benzinga's look at OceanFirst Financial's Q2 earnings report.
Net Income, Earnings, And Earnings Per Share
Earnings and EPS are useful metrics of profitability. Total earnings also known as net income is equal to total revenue minus total expenses. Dividing net income by the total number of shares outstanding yields EPS.
Earnings And Revenue
Analysts covering OceanFirst Financial modeled for quarterly EPS of $0.43 on revenue of $77.60 million. OceanFirst Financial EPS in the same period a year ago totaled $0.36. Sales were $78.67 million.
What Are Analyst Estimates And Earnings Surprises, And Why Do They Matter?
Wall Street analysts who study this company will publish analyst estimates of revenue and EPS. The averages of all analyst EPS and revenue estimates are called the "consensus estimates"; these consensus estimates can have a significant effect on a company's performance during an earnings release. When a company posts earnings or revenue above or below a consensus estimate, it has posted an "earnings surprise", which can really move a stock depending on the difference between actual and estimated values.
The Wall Street consensus estimate for earnings would represent a 19.44% increase for the company. Sales would be down 1.36% from the same quarter last year. Here is how the OceanFirst Financial's reported EPS has stacked up against analyst estimates in the past:
| Quarter | Q1 2021 | Q4 2020 | Q3 2020 | Q2 2020 |
|---|---|---|---|---|
| EPS Estimate | 0.40 | 0.38 | 0.41 | 0.34 |
| EPS Actual | 0.44 | 0.39 | 0 | 0.36 |
| Revenue Estimate | 78.81 M | 75.41 M | 81.28 M | 79.11 M |
| Revenue Actual | 73.60 M | 77.85 M | 76.79 M | 78.67 M |
Want Real-Time Earnings Calendar Updates?
Benzinga consistently updates its earnings calendars to stay up-to-date with the latest company earnings reports. Check out the full earnings calendar list updated in real-time by following this link.
Stock Performance
Over the last 52-week period, shares of OceanFirst Financial are up 21.92%.
Do not be surprised to see the stock move on comments made during its conference call. OceanFirst Financial is scheduled to hold the call at 11:00:00 ET and can be accessed here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
