Popular Inc. Down 4.27% To $65.42 After Earnings Meet
Popular Inc (BPOP) reported less than expected earnings this morning for Q4 2022.
Wall Street earnings per share (EPS) projections for Popular Inc. were at $2.62. The company missed those estimates with an EPS of $2.62. The earnings per share of $2.62 (which represents a -0% EPS surprise) led to the company’s profits rising 2% compared to last year when the firm reported an EPS of $2.58. The increase in Popular Inc.’s annual growth rate represents how the business is performing neutrally amid recent economic conditions.
Revenues were downbeat at $559.6 million. That is an increase of 11.63% in revenues from the year-ago report and is 1.11% lower than consensus estimates set at $565.9 million.
The stock is down 4.27% to $65.42 after the report.
Popular Inc.’s revenue expanded at a faster pace than earnings, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Popular Inc. has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 14, putting Popular Inc. in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $62.55 on December 19, 2022 and set a 52-week high on February 10, 2022 at $95.28.
Popular Inc, based in Puerto Rico, is a financial holding company with four main subsidiaries: Banco Popular de Puerto Rico, the largest bank in Puerto Rico in terms of assets; Banco Popular North America, its banking operation in the continental United States; Evertec, a data processor; and Popular Financial Holdings, a diversified financial services company. Popular recently restructured PFH and moved much of its activities into BPNA.