Capital One Financial's Q2 2023 Earnings Exceed Estimates: Price Targets Adjusted Across the Board
Portfolio Pulse from Lekha Gupta
Capital One Financial Corp (COF) reported Q2 2023 results, with revenue of $9.01 billion, missing the consensus estimate of $9.12 billion, and earnings of $3.52 per share, beating analyst estimates of $3.22. Following the results, several analysts including Morgan Stanley, Stephens & Co., Wells Fargo, Piper Sandler, and Citigroup adjusted their price targets for COF. COF shares are trading higher by 0.90% at $116.01.
July 21, 2023 | 5:33 pm
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Capital One's Q2 2023 earnings beat estimates but missed on revenue. Analysts adjusted their price targets, leading to a 0.90% increase in COF's stock price.
Capital One's earnings beat and revenue miss led to a mixed reaction from analysts. However, the overall adjustment of price targets by several analysts and the subsequent increase in stock price indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100