S&P 500 (NYSE:SPY) component Huntington Bancshares, Inc. (NASDAQ:HBAN) will unveil its latest earnings on Wednesday, April 18, 2012. Huntington Bancshares is a financial holding company that offers various financial services through its subsidiary in several states.
Huntington Bancshares, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 14 cents per share, a rise of 7.7% from the company’s actual earnings for the year-ago quarter. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 0% compared to last year’s 59 cents.
Past Earnings Performance: Last quarter, the company saw net income of 14 cents per share versus a mean estimate of profit of 14 cents per share. This comes after two consecutive quarters of exceeding expectations.
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Wall St. Revenue Expectations: Analysts predict a rise of 1.8% in revenue from the year-earlier quarter to $656.8 million.
Analyst Ratings: Analysts seem relatively indifferent about Huntington Bancshares with 12 of 19 analysts surveyed maintaining a hold rating.
A Look Back: In the fourth quarter of the last fiscal year, profit rose 3.2% to $126.9 million (14 cents a share) from $122.9 million (5 cents a share) the year earlier, meeting analyst expectations. Revenue fell 9.8% to $716.2 million from $794.2 million.
After experiencing income increases the last three quarters, the company is hoping to keep the good news coming with this earnings announcement. Net income rose more than twofold in the second quarter of the last fiscal year and 42% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year.
On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 6.4% in the first quarter of the last fiscal year, 7.4% in second quarter of the last fiscal year and 6.7% in the third quarter of the last fiscal year and then fell again in the fourth quarter of the last fiscal year of the last fiscal year.
Stock Price Performance: Between February 14, 2012 and April 12, 2012, the stock price had risen 68 cents (11.8%), from $5.75 to $6.43. The stock price saw one of its best stretches over the last year between December 30, 2011 and January 12, 2012, when shares rose for nine straight days, increasing 8.8% (+48 cents) over that span. It saw one of its worst periods between February 8, 2012 and February 14, 2012 when shares fell for five straight days, dropping 4.3% (-26 cents) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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