Macatawa Bank Corp expected to post earnings of 31 cents a share - Earnings Preview

Macatawa Bank

19/01/2024 11:15

* Macatawa Bank Corp  MCBC.OQ   MCBC.O  is expected to show
a fall
in quarterly revenue when it reports  results on January 23
(estimated) for the period ending December 31 2023
    * The Holland Michigan-based  company is expected to report
a
4.2% decrease in revenue to $26.718 million from $27.9 million a
year ago, according to the mean estimate from 2 analysts, based
on LSEG data. (SAL Represents Operating Revenue)
    * ​LSEG's mean analyst estimate for Macatawa Bank Corp is
for
earnings of 31 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 $12.00​, above​ its last closing price of $10.68. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 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. 31 2022  0.33        0.33       0.35      Beat    6.1
 ​​Sep.        0.24        0.24       0.29      Beat    22.4
 30 2022                                                
 Jun. 30 2022  0.17        0.17       0.19      Beat    9.2​
 Mar. 31 2022  0.16        0.16       0.18      Beat    13.2
 Dec. 31 2021  0.19        0.19       0.18      Missed  -5.3
 This summary was machine generated January 19 at 11:13 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)