Brokerages expect Carter Bankshares, Inc. (NASDAQ:CARE) to report quarterly sales of $33.56 million

0

Analysts expect Carter Bankshares, Inc. (NASDAQ:CARE – Get a rating) will post revenue of $33.56 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts provided earnings estimates for Carter Bankshares, with the lowest sales estimate of $32.97 million and the highest estimate of $33.99 million. Carter Bankshares reported sales of $35.48 million in the same quarter last year, suggesting a negative 5.4% year-over-year growth rate. The company is due to release its next earnings report on Monday, January 1.

On average, analysts expect Carter Bankshares to report sales of $140.25 million for the current fiscal year, with estimates ranging from $137.76 million to $141.81 million. For the next fiscal year, analysts expect the company to record sales of $151.51 million, with estimates ranging from $150.39 million to $152.82 million. Zacks Investment Research’s sell-side calculations are an average based on a survey of sell-side research firms that track Carter Bankshares.

Carter Bankshares (NASDAQ: CARE – Get a rating) last released its quarterly earnings data on Thursday, January 27. The company reported earnings per share (EPS) of $0.21 for the quarter, missing the Zacks consensus estimate of $0.34 per ($0.13). Carter Bankshares had a net margin of 19.41% and a return on equity of 7.89%. The company posted revenue of $33.83 million for the quarter, compared to $34.39 million expected by analysts.

(A d)

Forbes says… NFTs are the biggest technological development for creators since the advent of the internet – and in 2022 they will increase by 1000%.

Check out these 3 NFT stocks that are well positioned to deliver strong upside for investors over the next 12-18 months.

Several brokerages have weighed in on CARE. Piper Sandler began coverage of Carter Bankshares in a report on Friday, January 21. They issued a “neutral” rating and a target price of $17.00 for the company. Zacks Investment Research upgraded Carter Bankshares from a “hold” rating to a “buy” rating and set a target price of $19.00 for the company in a Friday, April 1, report.

CARE shares opened at $17.26 on Friday. Carter Bankshares has a 12-month low of $10.02 and a 12-month high of $17.80. The stock has a market capitalization of $437.68 million, a price-earnings ratio of 14.38 and a beta of 1.16. The stock has a fifty-day simple moving average of $16.37 and a two-hundred-day simple moving average of $15.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt ratio of 0.02.

Several hedge funds and other institutional investors have recently changed their stock holdings. BlackRock Inc. increased its stake in shares of Carter Bankshares by 0.6% during the 4th quarter. BlackRock Inc. now owns 1,803,262 shares of the company worth $27,752,000 after purchasing an additional 10,691 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Carter Bankshares by 73.7% during the 4th quarter. Wells Fargo & Company MN now owns 34,607 shares of the company worth $532,000 after purchasing an additional 14,680 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Carter Bankshares by 6.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,677 shares of the company worth $318,000 after buying 1,248 additional shares in the last quarter. Deutsche Bank AG increased its stake in shares of Carter Bankshares by 5.4% during the 4th quarter. Deutsche Bank AG now owns 16,321 shares in the company worth $251,000 after buying 837 more shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Carter Bankshares by 111.0% during the 4th quarter. MetLife Investment Management LLC now owns 9,102 shares of the company worth $140,000 after buying 4,789 additional shares in the last quarter. Hedge funds and other institutional investors own 35.34% of the company’s shares.

Carter Bankshares Company Profile (Get a rating)

Carter Bankshares, Inc operates as a bank holding company for Carter Bank & Trust which provides various banking products and services. It accepts a variety of deposit products, including checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers commercial loans including secured and unsecured loans; consumer loans, such as secured and unsecured loans for automobile financing, home improvement, education, overdraft protection and personal investments, and residential mortgages; loans for the construction and acquisition of real estate; home equity lines of credit; and credit cards, as well as issues and holds fixed and variable rate mortgages.

Featured articles

Get a Free Copy of Zacks Research Report on Carter Bankshares (CARE)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for Carter Bankshares (NASDAQ: CARE)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Carter Bankshares right now?

Before you consider Carter Bankshares, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Carter Bankshares didn’t make the list.

While Carter Bankshares currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Share.

Comments are closed.