Lakeland Financial Corp reports results for the quarter ended in March - Earnings Summary

Lakeland Financial

25/04/2024 15:25

* Lakeland Financial Corp  LKFN.OQ  reported quarterly
adjusted
earnings of 91 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 94 cents.  The mean expectation of four analysts for the
quarter was for earnings of 86 cents per share. Wall Street
expected results to range from 84 cents to 88 cents per share.
    * Revenue fell 12.7% to $54.00 million from a year ago;
analysts
expected $60.16 million. 
    * Lakeland Financial Corp's reported EPS for the quarter was
$1.84​.
    * The company reported quarterly net income of $47.42
million.
    * Lakeland Financial Corp shares had fallen by 5.5% this
quarter and lost 3.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Lakeland
Financial Corp is $69.50 

This summary was machine generated from LSEG data April 25 at
02:25 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
 Mar. 31 2024      0.86           0.91           Beat
 Dec. 31 2023      0.89           1.16           Beat
 Sep. 30 2023      0.90           0.98           Beat
 Jun. 30 2023      0.91           0.57           Missed