Coastal Financial Corp (EVERETT) reports results for the quarter ended in December - Earnings Summary

Coastal Financial (EVERETT)

30/01/2024 16:56

* Coastal Financial Corp (EVERETT)  CCB.OQ  reported
quarterly
adjusted earnings of 66 cents​​ per share for the quarter ended
in December, lower than the same quarter last year, when the
company reported EPS of 96 cents.  The mean expectation of
four analysts for the quarter was for earnings of 73 cents per
share. Wall Street expected results to range from 58 cents to 94
cents per share.
    * Revenue fell 34% to $63.56 million from a year ago;
analysts
expected $94.60 million. 
    * Coastal Financial Corp (EVERETT)'s reported EPS for the
quarter
was 66 cents​.
    * The company reported quarterly net income of $9.01
million.
    * Coastal Financial Corp (EVERETT) shares had fallen by 3.8%
this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 4 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Coastal
Financial
Corp (EVERETT) is $54.50 

This summary was machine generated from LSEG data January 30 at
04:56 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
 Dec. 31 2023      0.73           0.66           Missed
 Sep. 30 2023      0.93           0.75           Missed
 Jun. 30 2023      0.97           0.95           Missed
 Mar. 31 2023      0.87           0.91           Beat