The upcoming report from Washington Trust Bancorp (WASH) is expected to reveal quarterly earnings of $0.76 per share, indicating an increase of 11.8% compared to the year-ago period. Analysts forecast revenues of $59.71 million, representing an increase of 10% year over year.
The current level reflects a downward revision of 1.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Washington Trust metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Efficiency Ratio' should arrive at 64.9%. The estimate is in contrast to the year-ago figure of 67.3%.
The consensus estimate for 'Total noninterest income' stands at $17.80 million. The estimate compares to the year-ago value of $17.08 million.
The average prediction of analysts places 'Net Interest Income' at $41.92 million. Compared to the current estimate, the company reported $37.19 million in the same quarter of the previous year.
View all Key Company Metrics for Washington Trust here>>>Over the past month, Washington Trust shares have recorded returns of +1.9% versus the Zacks S&P 500 composite's +1.6% change. Based on its Zacks Rank #4 (Sell), WASH will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Washington Trust Bancorp, Inc. (WASH): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).