Chemung Financial Corp reports results for the quarter ended in September 30 - Earnings Summary

Chemung Financial

23/10/2024 05:12

* Chemung Financial Corp  CHMG.OQ  reported quarterly
adjusted
earnings of $1.19​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of $1.61.  The mean expectation of two analysts for
the quarter was for earnings of $1.13 per share. Wall Street
expected results to range from $1.11  to $1.14 per share.
    * Revenue fell 5.9% to $24.31 million from a year ago;
analysts
expected $24.33 million. 
    * Chemung Financial Corp's reported EPS for the quarter was
$1.19​.
    * The company reported quarterly net income of $5.72
million.
    * Chemung Financial Corp shares had fallen by 1.7% this
quarter and lost 5.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Chemung Financial
Corp is 54.00 
This summary was machine generated from LSEG data October 23 at
04:11 a.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      1.13           1.19           Beat
 Jun. 30 2024      1.12           1.05           Missed
 Mar. 31 2024      1.04           1.48           Beat
 Dec. 31 2023      1.12           0.81           Missed