ConnectOne Bancorp Q3 EPS $0.51 Beats $0.50 Estimate, Sales $62.36M Miss $63.49M Estimate
Portfolio Pulse from mahesh@benzinga.com
ConnectOne Bancorp (NASDAQ:CNOB) reported Q3 earnings of $0.51 per share, beating the analyst consensus estimate of $0.50 by 2 percent. However, this is a 27.14 percent decrease from the same period last year. The company's quarterly sales of $62.36 million missed the analyst consensus estimate of $63.49 million by 1.78 percent, marking a 20.22 percent decrease from the previous year.
October 26, 2023 | 11:04 am
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NEGATIVE IMPACT
ConnectOne Bancorp's Q3 earnings beat estimates but are down significantly YoY. Sales also missed estimates and are down YoY.
ConnectOne Bancorp's earnings beat estimates, which is positive. However, the YoY decrease in earnings and sales, as well as the missed sales estimate, are negative indicators that could potentially lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100