Yahoo Finance US$10.00 - That's What Analysts Think Blue Foundry Bancorp (NASDAQ:BLFY) Is Worth After These Results
Investors in Blue Foundry Bancorp (NASDAQ:BLFY) had a good week, as its shares rose 2.4% to close at US$10.08 following the release of its yearly results. The results look positive overall; while revenues of US$44m were in line with analyst predictions, statutory losses were 4.6% smaller than expected, with Blue Foundry Bancorp losing US$0.31 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.
View our latest analysis for Blue Foundry Bancorp
Taking into account the latest results, the two analysts covering Blue Foundry Bancorp provided consensus estimates of US$38.9m revenue in 2024, which would reflect a definite 12% decline over the past 12 months. Per-share losses are expected to explode, reaching US$0.81 per share. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$38.1m and losses of US$0.72 per share in 2024. So it's pretty clear the analysts have mixed opinions on Blue Foundry Bancorp even after this update; although they upped their revenue numbers, it came at the cost of a noticeable increase in per-share losses.
The average price target rose 5.3% to US$10.00, even thoughthe analysts have been updating their forecasts to show higher revenues and higher forecast losses.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 12% by the end of 2024. This indicates a significant reduction from annual growth of 11% over the last three years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 5.6% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Blue Foundry Bancorp is expected to lag the wider industry.
The Bottom Line
The most important thing to take away is that the analysts increased their loss per share estimates for next year. Fortunately, they also upgraded their revenue estimates, although our data indicates it is expected to perform worse than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At least one analyst has provided forecasts out to 2025, which can be seen for free on our platform here.
We don't want to rain on the parade too much, but we did also find 2 warning signs for Blue Foundry Bancorp (1 is a bit unpleasant!) that you need to be mindful of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
