For its second fiscal quarter (ending June 30), Chemung Financial Corp (NASDAQ: CHMG) has reported a -21% decline in E.P.S. from $1.33 a year ago to $1.05 in the current quarter. This result fell short of the consensus estimate of $1.12 by $-0.07. For the latest four quarters through June 30, E.P.S. were $4.94 compared to $5.82 a year ago — a decline of -15%.
Recent Price Action
Chemung Financial Corp (NASDAQ: CHMG) stock declined slightly by -0.3% on 7/18/24. The stock closed at $50.31. Moreover, above average trading volume at 129% of normal accompanied the decline. The stock has been weak relative to the market over the last nine months but has risen 13.6% during the last week.
Current PriceTarget Research Rating
CHMG is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Chemung Financial has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Chemung Financial has a good Appreciation Score of 70 but a slightly negative Power Rating of 32, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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