New York Community Q4 Adj. EPS $(0.27) Misses $0.28 Estimate, Sales $740.00M Miss $811.07M Estimate
Portfolio Pulse from Benzinga Newsdesk
New York Community (NYSE:NYCB) reported a significant miss in Q4 adjusted EPS at $(0.27), which was below the $0.28 estimate, marking a 196.43% miss and a 208% decrease from the previous year's earnings. Quarterly sales were also below expectations at $740.00M, missing the $811.07M estimate by 8.76%, despite being a 95.25% increase from the same period last year.
January 31, 2024 | 12:03 pm
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NEGATIVE IMPACT
New York Community's Q4 earnings and sales significantly missed analyst estimates, indicating potential negative investor sentiment and downward pressure on the stock price in the short term.
The substantial miss in both earnings per share and sales compared to analyst estimates typically results in negative investor sentiment and can lead to a decrease in stock price in the short term. The magnitude of the miss, both in terms of EPS and sales, suggests a significant underperformance that could worry investors about the company's financial health and future prospects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100