Carter Bankshares Inc reports results for the quarter ended March 31 - Earnings Summary

• Carter Bankshares Inc CARE.OQ reported quarterly adjusted earnings of 39 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 25 cents. The mean expectation of three analysts for the quarter was for earnings of 28 cents per share. Wall Street expected results to range from 24 cents to 32 cents per share.

• Revenue rose 17% to $39.18 million from a year ago; analysts expected $34.90 million.

• Carter Bankshares Inc's reported EPS for the quarter was 39 cents​.

• The company reported quarterly net income of $8.95 million.

• Carter Bankshares Inc shares had fallen by 5.2% this quarter and lost 12.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 10.5% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Carter Bankshares Inc is $22.00

This summary was machine generated from LSEG data April 24 at 01:33 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)