Eastern Bankshares Inc reports results for the quarter ended in September 30 - Earnings Summary

Eastern Bankshares

27/10/2024 15:52

* Eastern Bankshares Inc  EBC.OQ  reported quarterly
adjusted
earnings of 25 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of 32 cents.  The mean expectation of four analysts
for the quarter was for earnings of 33 cents per share. Wall
Street expected results to range from 33 cents to 34 cents per
share.
    * Revenue rose 23.8% to $169.86 million from a year ago;
analysts
expected $182.28 million. 
    * Eastern Bankshares Inc's reported EPS for the quarter was
a loss
of 3 cents​.
    * The company reported a quarterly loss of $6.19 million.
    * Eastern Bankshares Inc shares had risen by 2.0% this
quarter and
gained 17.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.9%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "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 Eastern
Bankshares Inc is 19.00 
This summary was machine generated from LSEG data October 27 at
03:52 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      0.33           0.25           Missed
 Jun. 30 2024      0.22           0.22           Met
 Mar. 31 2024      0.20           0.23           Beat
 Dec. 31 2023      0.20           0.10           Missed