First Merchants Corp reports results for the quarter ended in December - Earnings Summary

First Merchants

25/01/2024 14:31

* First Merchants Corp  FRME.OQ  reported quarterly adjusted
earnings of 87 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of $1.19.  The mean expectation of
five analysts for the quarter was for earnings of 87 cents per
share. Wall Street expected results to range from 86 cents to 87
cents per share.
    * Revenue fell 9.6% to $156.51 million from a year ago;
analysts
expected $165.48 million. 
    * First Merchants Corp's reported EPS for the quarter was 71
cents​.
    * The company reported quarterly net income of $42.01
million.
    * First Merchants Corp shares had fallen by 3.0% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.2%
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 "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," no
"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 First Merchants
Corp is $42.50 
This summary was machine generated from LSEG data January 25 at
02:31 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      0.87           0.87           Met
 Sep. 30 2023      0.94           0.95           Beat
 Jun. 30 2023      1.02           1.02           Met
 Mar. 31 2023      1.14           1.07           Missed