Coastal Finl Q2 EPS $0.95 Misses $0.97 Estimate, Sales $120.94M Miss $124.04M Estimate
Portfolio Pulse from Benzinga Newsdesk
Coastal Finl (NASDAQ:CCB) reported Q2 earnings of $0.95 per share, missing the analyst consensus estimate of $0.97 by 2.06%. The company also reported quarterly sales of $120.94 million, missing the analyst consensus estimate of $124.04 million by 2.50%. However, both earnings and sales have increased compared to the same period last year.
July 27, 2023 | 1:28 pm
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NEGATIVE IMPACT
Coastal Finl's Q2 earnings and sales missed estimates, which could negatively impact the stock price in the short term.
Investors often react to earnings reports, and missing estimates can lead to a decrease in stock price. However, the YoY growth might mitigate this effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100