US Bancorp Second Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component US Bancorp (NYSE:USB) will unveil its latest earnings on Wednesday, July 18, 2012. U.S. Bancorp is a financial holding company that provides financial services through its subsidiaries, including lending and depository services, cash management, foreign exchange and trust and investment management services.
US Bancorp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of 69 cents per share, a rise of 15% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 66 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 69 cents during the last month. For the year, analysts are projecting profit of $2.75 per share, a rise of 14.1% from last year.
Past Earnings Performance: Last quarter, the company beat estimates by 3 cents, coming in at net income of 67 cents a share versus the estimate of profit of 64 cents a share. It marked the fourth straight quarter of beating estimates.
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A Look Back: In the first quarter, profit rose 27.9% to $1.34 billion (67 cents a share) from $1.05 billion (52 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 7.2% to $5.48 billion from $5.11 billion.
Wall St. Revenue Expectations: On average, analysts predict $4.97 billion in revenue this quarter, a rise of 6% from the year-ago quarter. Analysts are forecasting total revenue of $19.87 billion for the year, a rise of 4% from last year’s revenue of $19.11 billion.
Stock Price Performance: From June 13, 2012 to July 12, 2012, the stock price rose $1.45 (4.7%), from $30.56 to $32.01. The stock price saw one of its best stretches over the last year between June 25, 2012 and July 3, 2012, when shares rose for seven straight days, increasing 4.6% (+$1.42) over that span. It saw one of its worst periods between July 25, 2011 and August 2, 2011 when shares fell for seven straight days, dropping 6.7% (-$1.82) over that span.
This upcoming earnings announcement will be a chance to build on positive earnings momentum over the last three quarters. Net income rose 40.2% in the third quarter of the last fiscal year and 38.6% in the fourth quarter of the last fiscal year before increasing again in the first quarter.
On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 3.3% in the second quarter of the last fiscal year, 3.7% in the third quarter of the last fiscal year and 6.5% in the fourth quarter of the last fiscal year before increasing again in the first quarter.
Analyst Ratings: With 13 analysts rating the stock as a buy, one rating it as a sell and 12 rating it as a hold, there are indications of a bullish outlook.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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