Macatawa Bank Corp expected to post earnings of 30 cents a share - Earnings Preview

Macatawa Bank

23/04/2024 12:40

* Macatawa Bank Corp  MCBC.OQ   MCBC.O  is expected to show
a fall
in quarterly revenue when it reports  results on April 25
(estimated) for the period ending March 31 2024
    * The Holland Michigan-based  company is expected to report
a
3.0% decrease in revenue to $26.338 million from $27.14 million
a year ago, according to the mean estimate from 2 analysts,
based on LSEG data.
    * ​LSEG's mean analyst estimate for Macatawa Bank Corp is
for
earnings of 30 cents per share. 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Macatawa
Bank
Corp is $12.50​, below​ its last closing price of $14.26. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Dec. 31 2023  0.31        0.31       0.31      Met     -1.1
 Sep. 30 2023  0.31        0.31       0.33      Beat    8
 Jun. 30 2023  0.33        0.33       0.30      Missed  -9.2​
 Mar. 31 2023  0.33        0.33       0.35      Beat    7.4
 ​​Dec.        0.33        0.33       0.35      Beat    6.1
 31 2022                                                
 Sep. 30 2022  0.24        0.24       0.29      Beat    22.4​
 Jun. 30 2022  0.17        0.17       0.19      Beat    9.2
 Mar. 31 2022  0.16        0.16       0.18      Beat    13.2
 This summary was machine generated April 23 at 11:40 GMT.  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)