Oportun Financial (US:OPRT) ZACKSยท2024-08-08 23:25Group 1: Earnings Performance - Oportun Financial Corporation reported quarterly earnings of $0.08 per share, exceeding the Zacks Consensus Estimate of a loss of $0.18 per share, and up from earnings of $0.06 per share a year ago, representing an earnings surprise of 144.44% [1] - The company posted revenues of $250.4 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.74%, although this is a decrease from year-ago revenues of $266.6 million [2] - Over the last four quarters, Oportun Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Oportun Financial shares have declined approximately 29.2% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.09 on revenues of $247.15 million, and $0.25 on revenues of $994.58 million for the current fiscal year [7] Group 3: Industry Context - The Zacks Industry Rank for Financial - Miscellaneous Services, which includes Oportun Financial, is currently in the top 37% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that tracking these revisions can be beneficial for investors [5] - The estimate revisions trend for Oportun Financial is currently favorable, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6]