Shore Bancshares Inc reports results for the quarter ended in September - Earnings Summary

Shore Bancshares

01/11/2023 12:00

* Shore Bancshares Inc  SHBI.OQ  reported a quarterly
adjusted
loss of 19 cents​​ per share for the quarter ended in September,
lower than the same quarter last year, when the company reported
EPS of 49 cents.  The mean expectation of three analysts for the
quarter was for earnings of 34 cents per share. Wall Street
expected results to range from 32 cents to 39 cents per share.
    * Revenue rose 67% to $45.62 million from a year ago;
analysts
expected $44.12 million. 
    * Shore Bancshares Inc's reported EPS for the quarter was a
loss
of 19 cents​.
    * The company reported a quarterly loss of $6.38 million.
    * Shore Bancshares Inc shares had fallen by 2.5% this
quarter and
lost 41.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 2 "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 Shore Bancshares
Inc is $13.50 
This summary was machine generated from LSEG data November 1 at
12:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.34           -0.19          Missed
 Jun. 30 2023      0.31           0.20           Missed
 Mar. 31 2023      0.40           0.32           Missed
 Dec. 31 2022      0.49           0.42           Missed