Cathay General Bancorp reports results for the quarter ended in September 30 - Earnings Summary

Cathay General Bancorp

21/10/2024 23:12

* Cathay General Bancorp  CATY.OQ  reported quarterly
adjusted
earnings of 94 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of $1.13.  The mean expectation of six analysts for
the quarter was for earnings of 95 cents per share. Wall Street
expected results to range from 85 cents to $1.00 per share.
    * Revenue fell 2% to $189.52 million from a year ago;
analysts
expected $182.03 million. 
    * Cathay General Bancorp's reported EPS for the quarter was
94
cents​.
    * The company reported quarterly net income of $67.51
million.
    * Cathay General Bancorp shares had risen by 7.2% this
quarter and
gained 3.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Cathay General
Bancorp is $45.00 
This summary was machine generated from LSEG data October 21 at
10:12 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.95           0.94           Missed
 Jun. 30 2024      0.94           0.92           Missed
 Mar. 31 2024      0.98           0.98           Met
 Dec. 31 2023      1.06           1.13           Beat