An Earnings surprise occurs when a company reports earnings that differ from what analysts had expected. An earnings surprise in either a positive or negative direction can often result in significant stock price movement immediately after the earnings announcement, but can also have a long-term effect as well.
Most recently for the quarter ending on 2015-03-31, Grupo Financiero Galicia S.A. (NASDAQ:GGAL) posted a surprise factor of 8.97%. The company reported actual earnings of $0.85 which was $0.07 away from what analysts were projecting on a consensus basis.
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is scheduled to next report earnings for the current quarter on 2015-08-06. Analysts are expecting earnings per share of $0.69. This is based on the 1 sell-side brokerages polled by Zacks Research. Institutional and retail investors alike will be paying close attention to the analyst estimate revisions leading up to the earnings announcement date.
Analyst Price Target
Wall Street brokerage analysts covering the company are projecting the stock to go to $40 on a short term basis. This is the consensus estimate from the 1 sell-side firms included in the Zacks consensus number. The firm seeing the most upside to the stock has a target of 40, while the most conservative price target sees the stock reaching $40.
Using Zacks simplified scale, the stock has a mean rating of 2.33. This is the mean calculation of the 2.33 ratings surveyed by Zacks, where 1 represents a Strong Buy and 5 represents a Strong Sell. Three months ago the stock had a 2.33 rating.
Grupo Financiero Galicia S.A. (Grupo Financiero Galicia) is a financial services holding company. Banco de Galicia y Buenos Aires S.A. (Banco Galicia) is the Company’s largest subsidiary. Banco Galicia is a bank that provides, directly or through its subsidiaries, a range of financial products and services to large corporations, small and medium sized companies (SMEs), and individuals. Through the operating subsidiaries of Tarjetas Regionales S.A., a holding company wholly owned by the Bank, the Company provides brand credit cards and consumer finance services throughout Argentina. Through Sudamericana Holding S.A. and its subsidiaries (Sudamericana) it provides insurance products in Argentina. It provides financial services through a distribution platform amongst private-sector financial institutions in Argentina. In November 2013, the Company announced the merger by incorporation of Lagarcue SA and Theseus SA into the Company with all their assets and liabilities.