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The First of Long Island Corporation (FLIC) : Free Stock Analysis Report
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In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 30% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well.
The current consensus EPS estimate is $0.47 on $29.5 million in revenues for the coming quarter and $1.85 on $117.82 million in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
So, the shares are expected to perform in line with the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for The First of Long Island was mixed. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While The First of Long Island has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? What's Next for The First of Long Island?
The First of Long Island shares have added about 21.7% since the beginning of the year versus the S&P 500's gain of 17.2%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
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