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Analysts Estimate First Guaranty Bancshares (FGBI) to Report a Decline in Earnings: What to Look Out for
First Guaranty BankFirst Guaranty Bank(US:FGBI) ZACKSยท2024-10-22 15:06

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for First Guaranty Bancshares (FGBI) despite higher revenues, with the actual results being crucial for stock price movement [1] Earnings Expectations - First Guaranty Bancshares is expected to report quarterly earnings of $0.01 per share, reflecting a year-over-year decrease of 90% [2] - Revenues are projected to be $24.13 million, which is an increase of 5.2% compared to the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has been revised down by 38.46% over the last 30 days, indicating a reassessment by analysts [3] - The Most Accurate Estimate for First Guaranty Bancshares aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the lack of recent analyst revisions makes it challenging to predict an earnings beat for First Guaranty Bancshares [4][6] - A positive Earnings ESP is generally a strong indicator of an earnings beat, especially when combined with a favorable Zacks Rank [5] Historical Performance - In the last reported quarter, First Guaranty Bancshares exceeded the expected earnings of $0.20 per share by delivering $0.53, resulting in a surprise of +165% [7] - Over the past four quarters, the company has beaten consensus EPS estimates twice [7] Industry Context - In the Southeast banking industry, First Citizens BancShares is expected to report earnings of $47.94 per share, indicating a year-over-year decline of 14.3% [9] - First Citizens' revenue is anticipated to be $2.36 billion, down 9.5% from the previous year, with a consensus EPS estimate revised down by 4.4% [9]