Sunday, June 13, 2021

New York Community Bancorp Inc. [NYCB]: What to Expect when It Reports Earnings

Earnings from New York Community Bancorp Inc. [NYCB] are scheduled on April 28, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Jun 2021.


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NYCB Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.29 per share on revenue of $320.73M. Taking a look at the future, the company is projected to report revenue of $326.63M at an earnings per share of $0.3 for the Sep 2021 quarter. The estimates represent year-over-year improvements of 29.60% in revenue and 10.01% in earnings per share for the company.

NYCB Stock Earnings Forecast For The Current Year


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For the full financial year, New York Community Bancorp Inc. [NYSE:NYCB] is forecasted to generate revenue of $1.34B. The figure is about $240.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $1.18 in 2021, which is $0.16 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 15.70% this year, 14.40% next year, and -20.50% annually over the next five years. With regard to sales, forecasts suggest an incline of 21.60% in current fiscal year and 29.60% over following year.

NYCB Stock Price Performance

At the close of Tuesday’s session, New York Community Bancorp Inc. [NYSE:NYCB] finished up 1.68% at $12.74. The stock’s highest single-day price was $12.82, and its lowest was $12.50. Its price rose 6.88% in the last five days. Since the beginning of the year, New York Community Bancorp Inc.’s shares are up nearly 20.76%. However, the share price is -3.70% below its one year high. The top price reached by the shares of the company was $13.23 on 02/25/21, while the 52-week low came on 02/05/21, when the shares were $10.28. In the past year, shares of the company have risen 25.39%. At 50 days, the moving average achieved is $12.27 while at 200 days, the moving average is $10.29. There were 11.48 million shares traded in the last session, up from 5.24 million in the previous session.

New York Community Bancorp Inc. [NYSE:NYCB] Stock Valuation Metrics

With a prevailing 12-month PE ratio of 14.59, New York Community Bancorp Inc. [NYCB] does not 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 premium to the industry average of 13.08 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 3.39 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.73 for the industry, which means NYCB offers an unattractive investment opportunity than its competitors do.

NYCB Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 12.74 level, and the violation of this level will cause a further drop to 12.55 level. At the upper end, 13.19 remains a key resistance. As the stock increases, it may find resistance at 13.01. In the 14-day chart, the Relative Strength Index standing at 58.82 suggests a technical neutral stance while the MACD standing at 0.06 indicates price will decrease in the next trading period. Stochastic %K at 68.39% suggests holding the stock while Percent R indicator at 6.50% suggests bullish price movement.

How much is the short interest in New York Community Bancorp Inc.?

There have been a drop in short interest in the New York Community Bancorp Inc. Financial stock, with short interest down by -0.59 million shares to 20.66 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 20.07 million shares. This 2.86% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 5.78% of the overall float in the stock, while the stock’s days to cover moved to 4.31.

How do analysts view New York Community Bancorp Inc.?

In regard to the share price forecast for New York Community Bancorp Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $15.00 in the next twelve months, representing almost an 15.07% growth from its recent price of $12.74. Among New York Community Bancorp Inc. stock projections, $19.00 is the highest analyst target for the stock, while $11.00 is the lowest. Despite this, 14 analysts who share their consensus rating for NYCB in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/27/21, when Credit Suisse Ratings launched coverage of the stock at “Neutral” and assigned a price target of $14.0.

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