Western New England Bancorp Inc reports results for the quarter ended in March - Earnings Summary

Western New England Bancorp

23/04/2024 22:25

* Western New England Bancorp Inc  WNEB.OQ  reported
quarterly
adjusted earnings of 14 cents​​ per share for the quarter ended
in March, lower than the same quarter last year, when the
company reported EPS of 24 cents.  The mean expectation of
four analysts for the quarter was for earnings of 12 cents per
share. 
    * Revenue fell 17.1% to $15.35 million from a year ago;
analysts
expected $15.85 million. 
    * Western New England Bancorp Inc's reported EPS for the
quarter
was 14 cents​.
    * The company reported quarterly net income of $2.96
million.
    * Western New England Bancorp Inc shares had fallen by 18.3%
this
quarter and lost 30.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 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 2 "strong buy" or "buy," 2
"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 Western New
England Bancorp Inc is $9.25 
This summary was machine generated from LSEG data April 23 at
09:25 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      0.12           0.14           Beat
 Dec. 31 2023      0.15           0.12           Missed
 Sep. 30 2023      0.15           0.21           Beat
 Jun. 30 2023      0.18           0.13           Missed