We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cathay (CATY) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Read MoreHide Full Article
For the quarter ended June 2024, Cathay General (CATY - Free Report) reported revenue of $178.53 million, down 12.8% over the same period last year. EPS came in at $0.97, compared to $1.28 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $179.5 million, representing a surprise of -0.54%. The company delivered an EPS surprise of +1.04%, with the consensus EPS estimate being $0.96.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cathay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 55.7% versus the three-analyst average estimate of 50.9%.
Net Interest Margin: 3% versus the three-analyst average estimate of 3%.
Average balance - Total interest-earning assets: $22.12 billion versus the three-analyst average estimate of $22.21 billion.
Tier 1 leverage capital ratio: 10.8% versus the two-analyst average estimate of 11%.
Net interest income before provision for loan losses: $165.32 million versus $165.22 million estimated by three analysts on average.
Total Non-Interest Income: $13.22 million versus $14.43 million estimated by three analysts on average.
Letters of credit commissions: $1.89 million versus $1.87 million estimated by two analysts on average.
Shares of Cathay have returned +16.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cathay (CATY) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Cathay General (CATY - Free Report) reported revenue of $178.53 million, down 12.8% over the same period last year. EPS came in at $0.97, compared to $1.28 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $179.5 million, representing a surprise of -0.54%. The company delivered an EPS surprise of +1.04%, with the consensus EPS estimate being $0.96.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cathay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 55.7% versus the three-analyst average estimate of 50.9%.
- Net Interest Margin: 3% versus the three-analyst average estimate of 3%.
- Average balance - Total interest-earning assets: $22.12 billion versus the three-analyst average estimate of $22.21 billion.
- Tier 1 leverage capital ratio: 10.8% versus the two-analyst average estimate of 11%.
- Net interest income before provision for loan losses: $165.32 million versus $165.22 million estimated by three analysts on average.
- Total Non-Interest Income: $13.22 million versus $14.43 million estimated by three analysts on average.
- Letters of credit commissions: $1.89 million versus $1.87 million estimated by two analysts on average.
View all Key Company Metrics for Cathay here>>>Shares of Cathay have returned +16.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.