Wall Street analysts forecast that HomeStreet (HMST) will report quarterly loss of $0.21 per share in its upcoming release, pointing to a year-over-year decline of 75%. It is anticipated that revenues will amount to $41.29 million, exhibiting a decline of 10.2% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 105.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some HomeStreet metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 111.5%. Compared to the present estimate, the company reported 105.9% in the same quarter last year.
Based on the collective assessment of analysts, 'Average Balance - Total interest earning assets' should arrive at $8.61 billion. Compared to the present estimate, the company reported $8.92 billion in the same quarter last year.
The consensus estimate for 'Total noninterest income' stands at $11.48 million. Compared to the present estimate, the company reported $10.96 million in the same quarter last year.
Analysts predict that the 'Net Interest Income' will reach $30.14 million. The estimate compares to the year-ago value of $34.99 million.
It is projected by analysts that the 'Loan servicing income' will reach $3.00 million. Compared to the present estimate, the company reported $3.26 million in the same quarter last year.
Analysts' assessment points toward 'Other' reaching $3.04 million. Compared to the present estimate, the company reported $3.26 million in the same quarter last year.
View all Key Company Metrics for HomeStreet here>>>
Shares of HomeStreet have experienced a change of +1.3% in the past month compared to the +2.1% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), HMST is expected to outperform 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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