Earnings from Camden National Corporation [CAC] are scheduled on April 27, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
CAC Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $1.01 per share on revenue of $45.73M. Taking a look at the future, the company is projected to report revenue of $44.38M at an earnings per share of $0.95 for the Jun 2021 quarter. The estimates represent year-over-year improvements of -0.40% in revenue and -1.59% in earnings per share for the company.
CAC Stock Earnings Forecast For The Current Year
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For the full financial year, Camden National Corporation [NASDAQ:CAC] is forecasted to generate revenue of $179.49M. The figure is about $-7.31 million below what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $3.78 in 2021, which is -$0.17 lower than the figure in FY20. Based on current estimates, earnings are expected to grow -4.30% this year, -1.60% next year. With regard to sales, forecasts suggest a decline of -3.90% in current fiscal year and -0.40% over following year.
CAC Stock Price Performance
At the close of Monday’s session, Camden National Corporation [NASDAQ:CAC] finished down -1.09% at $47.05. The stock’s highest single-day price was $48.0347, and its lowest was $46.07. Its price fall -0.65% in the last five days. Since the beginning of the year, Camden National Corporation’s shares are up nearly 31.50%. However, the share price is -5.25% below its one year high. The top price reached by the shares of the company was $49.65 on 03/12/21, while the 52-week low came on 01/04/21, when the shares were $35.57. In the past year, shares of the company have risen 64.57%. At 50 days, the moving average achieved is $45.69 while at 200 days, the moving average is $37.18. There were 25534.0 shares traded in the last session, down from 28500.0 in the previous session.
Camden National Corporation [NASDAQ:CAC] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 11.91, Camden National Corporation [CAC] does qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a discount to the industry average of 13.09 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 4.33 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.74 for the industry, which means CAC offers an unattractive investment opportunity than its competitors do.
CAC Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 47.05 level, and the violation of this level will cause a further drop to 46.07 level. At the upper end, 50.00 remains a key resistance. As the stock increases, it may find resistance at 49.02. In the 14-day chart, the Relative Strength Index standing at 50.86 suggests a technical neutral stance while the MACD standing at -0.41 indicates price will decrease in the next trading period. Stochastic %K at 40.50% suggests holding the stock while Percent R indicator at 51.90% suggests low price movement.
How much is the short interest in Camden National Corporation?
There have been a drop in short interest in the Camden National Corporation Financial stock, with short interest up by 1900.0 shares to 0.36 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 0.36 million shares. This -0.54% decrease suggests some bullish sentiment was experienced by the stock. Shorted shares accounted for just 2.46% of the overall float in the stock, while the stock’s days to cover moved to 7.17.
How do analysts view Camden National Corporation?
In regard to the share price forecast for Camden National Corporation stock, the analysts, as surveyed by FactSet, forecast the price to reach $45.00 in the next twelve months, representing almost an -4.56% growth from its recent price of $47.05. Among Camden National Corporation stock projections, $47.00 is the highest analyst target for the stock, while $40.00 is the lowest. Despite this, 3 analysts who share their consensus rating for CAC in 2021 agree that the stock is a Hold. The latest rating change took place on 1/27/21, when Raymond James Ratings upgraded the stock from “Market Perform” to “Outperform.”