Core Viewpoint - Chemung Financial (CHMG) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a strong history of surpassing expectations [1]. Group 1: Earnings Performance - Chemung Financial has consistently exceeded earnings estimates, averaging a 4.01% beat over the last two quarters [2]. - In the most recent quarter, the company reported earnings of 1.23, resulting in a surprise of 0.81%. In the previous quarter, it reported 1.11, achieving a surprise of 7.21% [3]. Group 2: Earnings Estimates and Predictions - Recent changes in earnings estimates for Chemung Financial have been favorable, with a positive Zacks Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of another earnings beat [6]. - The current Earnings ESP for Chemung Financial is +2.46%, suggesting that analysts are optimistic about the company's earnings prospects [9]. Group 3: Zacks Rank and Predictive Power - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high probability of a positive earnings surprise, with historical data indicating that nearly 70% of stocks with this combination beat consensus estimates [7]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions, which may provide a more accurate prediction [8].
Why Chemung Financial (CHMG) is Poised to Beat Earnings Estimates Again