Recap: HomeStreet Q4 Earnings
Portfolio Pulse from Benzinga Insights
HomeStreet (NASDAQ:HMST) reported Q4 earnings with an EPS of $-0.12, significantly missing the estimate of $0.02. Revenue also declined by $19.42 million compared to the same period last year. In contrast, the previous quarter saw a beat on EPS estimates which led to a 5.69% increase in share price the following day. HomeStreet's past earnings performance shows a trend of declining EPS and revenue over the last four quarters.
January 29, 2024 | 9:15 pm
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NEGATIVE IMPACT
HomeStreet's Q4 earnings report showed a significant miss on EPS and a decrease in revenue, which could negatively impact investor sentiment and the stock price in the short term.
HomeStreet's substantial earnings miss and revenue decline are likely to disappoint investors, especially given the stock's positive reaction to the previous quarter's earnings beat. Historical data suggests that earnings reports can significantly influence stock prices, and a miss of this magnitude could lead to a short-term decline in HMST's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100