Chemung Financial Q3 EPS $1.19 Beats $1.12 Estimate
Portfolio Pulse from Benzinga Newsdesk
Chemung Financial reported Q3 earnings of $1.19 per share, surpassing the analyst estimate of $1.12, despite a 26.09% decrease from last year's $1.61 per share.
October 22, 2024 | 8:27 pm
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Chemung Financial's Q3 earnings per share of $1.19 exceeded analyst expectations of $1.12, marking a positive surprise. However, this represents a significant decline of 26.09% from the previous year's earnings of $1.61 per share.
The positive earnings surprise is likely to have a short-term positive impact on the stock price as it exceeded analyst expectations. However, the year-over-year decline in earnings may temper investor enthusiasm, but the immediate reaction is likely to be positive due to the beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100