Wall Street analysts forecast that Lakeland Financial (LKFN) will report quarterly earnings of $0.89 per share in its upcoming release, pointing to a year-over-year decline of 9.2%. It is anticipated that revenues will amount to $61.2 million, exhibiting a decline of 7% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Lakeland Financial metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net Interest Margin' to come in at 3.2%. The estimate is in contrast to the year-ago figure of 3.2%.
According to the collective judgment of analysts, 'Efficiency ratio' should come in at 49.1%. Compared to the current estimate, the company reported 44.7% in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Total Non Interest Income' will likely reach $11.70 million. Compared to the current estimate, the company reported $17.21 million in the same quarter of the previous year.
View all Key Company Metrics for Lakeland Financial here>>>
Over the past month, Lakeland Financial shares have recorded returns of -0.7% versus the Zacks S&P 500 composite's -0.4% change. Based on its Zacks Rank #2 (Buy), LKFN will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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