Alert: New Earnings Report (7/25/24)-Magyar Bancorp Inc (NASDAQ: MGYR).

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Magyar Bancorp Inc (NASDAQ: MGYR) has reported E.P.S. of $0.27 for its third fiscal quarter (ending June 30) versus $0.30 for the same period a year ago — a decline of -10%. For the latest four quarters through June 30, E.P.S. were $1.16 compared to $1.22 a year ago — a decline of -5%.

Recent Price Action

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Magyar Bancorp Inc (NASDAQ: MGYR) stock closed at $12.71 on 7/25/24 after a very large increase of 5.5%. Moreover, trading volume in this advance was exceptionally high at 437% of normal. The stock has risen 6.0% during the last week and has been strong relative to the market over the last nine months.

Current PriceTarget Research Rating

MGYR is expected to continue to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.

Magyar Bancorp has a current Value Trend Rating of C (Neutral). This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. Magyar Bancorp has a neutral Power Rating of 52 and a neutral Appreciation Score of 53, leading to 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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