Earnings Preview: OceanFirst Financial (OCFC) Q2 Earnings Expected to Decline

Core Viewpoint - OceanFirst Financial (OCFC) is expected to report a year-over-year decline in earnings despite higher revenues, with the actual results being crucial for near-term stock price movements [1][2]. Earnings Expectations - The upcoming earnings report is anticipated on July 24, with a consensus estimate of $0.33 per share, reflecting a -15.4% change year-over-year. Revenues are projected to be $100.9 million, an increase of 8.2% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 5.13% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +2.55% for OceanFirst, suggesting recent bullish sentiment among analysts. However, the stock holds a Zacks Rank of 4, complicating predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, OceanFirst met the expected earnings of $0.35 per share, resulting in no surprise. Over the past four quarters, the company has beaten consensus EPS estimates twice [13][14]. Conclusion - While OceanFirst may not be a strong candidate for an earnings beat, investors should consider other factors influencing stock performance ahead of the earnings release [15][17].