Quarterly Earnings Report Highlights
Flushing Financial (FFIC) reported quarterly earnings of $0.26 per share, exceeding the Zacks Consensus Estimate of $0.18 per share. This reflects a decline from earnings of $0.31 per share a year earlier, with figures adjusted for non-recurring items.
The company achieved an earnings surprise of 44.44%. In the previous quarter, it was anticipated that Flushing Financial would report earnings of $0.18 per share, which matched the actual results without any surprise.
Performance Review Over the Past Year
Over the last four quarters, Flushing Financial has outperformed consensus EPS estimates twice.
In the quarter ended September 2024, the company, which operates within the Zacks Financial – Savings and Loan sector, generated revenues of $51.88 million, exceeding the Zacks Consensus Estimate by 9.34%. This figure marks an increase from revenues of $47.9 million in the previous year. Notably, the company has exceeded consensus revenue estimates three times in the past four quarters.
The stock’s immediate price movement will largely hinge on management’s commentary during the earnings call regarding future expectations.
This year, Flushing Financial shares have dropped about 8.8%, contrasting with the S&P 500’s gain of 21.5%.
Future Prospects for Flushing Financial
Despite underperforming the market so far this year, investors are left pondering the future of Flushing Financial’s stock.
While there are no straightforward answers, a useful measure is the company’s earnings outlook. This encompasses current consensus earnings estimates for upcoming quarters and recent changes in those projections.
Research suggests a significant correlation between short-term stock movements and trends in earnings estimate revisions. Investors can monitor these revisions independently or utilize a reliable tool like the Zacks Rank, known for its effective approach to track earnings estimates.
As of now, the estimate revisions for Flushing Financial are mixed. The latest earnings report may influence these revisions. Presently, the stock holds a Zacks Rank of #3 (Hold), indicating it is expected to perform in line with the market in the near term. Investors can view the complete list of Zacks #1 Rank (Strong Buy) stocks.
In the coming days, it will be worthwhile to observe how estimates for the next quarters and the current fiscal year evolve. The consensus EPS estimate stands at $0.19 on expected revenues of $48.35 million for the next quarter, and $0.69 on revenues of $188.7 million for this fiscal year.
Additionally, it’s important to consider that industry outlook can significantly influence stock performance. Currently, the Financial – Savings and Loan sector is ranked in the top 23% of over 250 Zacks industries. Historical data indicates that sectors within the top half typically outperform those in the bottom half by over two to one.
Comparative Insights with Capital Southwest
Another player in the Zacks Finance sector, Capital Southwest (CSWC), has not yet reported its results for the quarter ending September 2024, with the announcement set for October 28.
The business development company is projected to report quarterly earnings of $0.66 per share, reflecting a year-over-year decline of 4.4%. The consensus EPS estimate has remained unchanged over the past month.
Capital Southwest’s expected revenues are $49.79 million, marking an increase of 16.4% year-over-year.
Should Investors Consider Flushing Financial Corporation (FFIC)?
Before making any investment in Flushing Financial Corporation (FFIC), consider checking out Zacks Investment Research for insights on the best stocks to buy in the next 30 days.
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Flushing Financial Corporation (FFIC): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
