For its second fiscal quarter (ending June 30), First Merchants Corp (NASDAQ: FRME) has reported a -33% decline in E.P.S. from $1.02 a year ago to $0.68 in the current quarter. This performance was $-0.12 short of the consensus estimate of $0.80. E.P.S. were $3.14 for the latest four quarters through June 30 versus $4.37 for the same period a year ago — a decline of -28%.
Recent Price Action
First Merchants Corp (NASDAQ: FRME) stock closed at $40.43 on 7/25/24 after a large increase of 2.0%. Moreover, trading volume in this advance was unusually high at 167% of normal. The stock has risen 2.0% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, FRME is expected to continue to be a Value Builder.
First Merchants has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. First Merchants has a neutral Power Rating of 52 but a good Appreciation Score of 78, and the Positive Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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