Street Reports

Stock to Watch: Central Pacific Financial Corp. (CPF)

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The shares of Central Pacific Financial Corp. (NYSE:CPF) currently has mean rating of 2.60 while 0 analysts have recommended the shares as “BUY”, 2 recommended as “OUTPERFORM” and 3 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 44.04M by 5 analysts. The means estimate of sales for the year ending Dec-16 is 177.53M by 5 analysts.

The mean price target for the shares of Central Pacific Financial Corp. (CPF) is at 24.20 while the highest price target suggested by the analysts is 25.00 and low price target is 23.00. The mean price target is calculated keeping in view the consensus of 5 brokerage firms.

The average estimate of EPS for the current fiscal quarter for Central Pacific Financial Corp. (CPF) stands at 0.35 while the EPS for the current year is fixed at 1.45 by 5 analysts.

The next one year’s EPS estimate is set at 1.53 by 5 analysts while a year ago the analysts suggested the company’s EPS at 1.45. The analysts also projected the company’s long-term growth at 8.00% for the upcoming five years.

In its latest quarter ended on 31st March 2016, Central Pacific Financial Corp. (CPF) reported earnings of $0.35. The posted earnings topped the analyst’s consensus by $0.02 with the surprise factor of 6.10%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

On April 28, 2016 Central Pacific Financial Corp. (CPF) reported net income for the first quarter of 2016 of $11.2 million, or $0.35 per diluted share, compared to net income in the first quarter of 2015 of $10.4 million, or $0.29 per diluted share, and net income in the fourth quarter of 2015 of $10.9 million, or $0.34 per diluted share.

During the first quarter of 2016, the Company repurchased 233,722 shares of common stock, or approximately 0.7% of its common stock outstanding as of December 31, 2015, at a total cost of $4.7 million. The Company’s remaining repurchase authority under its common stock repurchase program at March 31, 2016 is $25.3 million.

On April 27, 2016, the Company’s Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding common shares. The dividend will be payable on June 15, 2016 to shareholders of record at the close of business on May 31, 2016.

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