Zacks: Brokerages Anticipate HomeStreet Inc (HMST) Will Announce Quarterly Sales of $127.13 Million

Analysts forecast that HomeStreet Inc (NASDAQ:HMST) will announce sales of $127.13 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for HomeStreet’s earnings, with the highest sales estimate coming in at $132.46 million and the lowest estimate coming in at $123.04 million. HomeStreet posted sales of $121.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is expected to issue its next earnings report after the market closes on Monday, January 22nd.

On average, analysts expect that HomeStreet will report full year sales of $127.13 million for the current financial year, with estimates ranging from $505.76 million to $514.29 million. For the next financial year, analysts expect that the firm will report sales of $538.45 million per share, with estimates ranging from $536.88 million to $539.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow HomeStreet.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, October 23rd. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.10. HomeStreet had a return on equity of 6.08% and a net margin of 6.68%. The business had revenue of $134.72 million during the quarter, compared to the consensus estimate of $129.90 million. During the same period last year, the company earned $1.12 earnings per share.

HMST has been the subject of several research analyst reports. ValuEngine upgraded HomeStreet from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Zacks Investment Research upgraded HomeStreet from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th. FBR & Co restated a “hold” rating on shares of HomeStreet in a report on Tuesday, October 3rd. B. Riley restated a “neutral” rating on shares of HomeStreet in a report on Wednesday, November 1st. Finally, BidaskClub downgraded HomeStreet from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $30.06.

Shares of HomeStreet (NASDAQ HMST) opened at $31.35 on Friday. HomeStreet has a 52-week low of $24.00 and a 52-week high of $32.60. The firm has a market capitalization of $842.81, a price-to-earnings ratio of 21.47, a PEG ratio of 1.34 and a beta of 0.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.73 and a current ratio of 0.87.

Several hedge funds have recently added to or reduced their stakes in HMST. SG Americas Securities LLC bought a new stake in shares of HomeStreet in the second quarter valued at about $117,000. First Interstate Bank raised its holdings in shares of HomeStreet by 34.2% in the third quarter. First Interstate Bank now owns 7,500 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 1,910 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of HomeStreet in the third quarter valued at about $233,000. BNP Paribas Arbitrage SA raised its holdings in shares of HomeStreet by 90.9% in the second quarter. BNP Paribas Arbitrage SA now owns 8,483 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 4,040 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in shares of HomeStreet in the third quarter valued at about $242,000. Hedge funds and other institutional investors own 85.30% of the company’s stock.

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About HomeStreet

HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.

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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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