People’s United Financial Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component People’s United Financial (NASDAQ:PBCT) will unveil its latest earnings on Thursday, October 18, 2012. People’s United Financial is a savings and loan holding company for People’s United Bank, a diversified financial services firm. The company provides consumer and commercial banking as well as wealth management services to individuals and corporate customers.

People’s United Financial Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 19 cents per share, no change from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 20 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 19 cents during the last month. Analysts are projecting profit to rise by 12.1% versus last year to 74 cents.

Past Earnings Performance: Last quarter, the company showed profit of 19 cents per share in the second quarter to fall in line with expectations, the company beat estimates by one cent in the first quarter. This comes after the company failed to meet analysts’ expectations in the previous two.

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A Look Back: In the second quarter, profit rose 26.6% to $64.8 million (19 cents a share) from $51.2 million (15 cents a share) the year earlier, meeting analyst expectations. Revenue rose 2.8% to $338.5 million from $329.4 million.

Stock Price Performance: Between September 14, 2012 and October 12, 2012, the stock price dropped 41 cents (-3.3%), from $12.45 to $12.04. The stock price saw one of its best stretches over the last year between March 8, 2012 and March 19, 2012, when shares rose for eight straight days, increasing 8.1% (+$1.01) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 3.5% (-42 cents) over that span.

Wall St. Revenue Expectations: Analysts predict a decline of 3.3% in revenue from the year-earlier quarter to $314.1 million.

Key Stats:

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 34.4% in the fourth quarter of the last fiscal year and 13.3% in the first quarter before increasing again in the second quarter.

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 26.6% in the third quarter of the last fiscal year, 16% in the fourth quarter of the last fiscal year and 2.2% in the first quarter before increasing again in the second quarter.

Analyst Ratings: There are mostly holds on the stock with 13 of 16 analysts surveyed giving that rating.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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