Zions Bancorp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Zions Bancorp (NASDAQ:ZION) will unveil its latest earnings on Monday, July 23, 2012. Zions Bancorporation provides a full range of banking and related services through its banking and other subsidiaries.

Zions Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 33 cents per share, a rise of more than twofold 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. For the year, analysts are projecting profit of $1.24 per share, a rise of 49.4% from last year.

Past Earnings Performance: The company has missed estimates in the last two quarters. In the first quarter, it missed the mark by 12 cents as a result of reporting net income of 14 cents against an estimate of profit of 26 cents per share. In the fourth quarter of the last fiscal year, the company fell short of forecasts by 9 cents.

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A Look Back: In the first quarter, profit rose 69.8% to $89.7 million (14 cents a share) from $52.8 million (8 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 7.1% to $640.9 million from $689.6 million.

Stock Price Performance: Between May 18, 2012 and July 17, 2012, the stock price had risen $1.16 (6.3%), from $18.27 to $19.43. 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 14.6% (+$2.37) over that span. It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight straight days, dropping 11.1% (-$2.60) over that span.

Analyst Ratings: There are mostly holds on the stock with 13 of 21 analysts surveyed giving that rating.

Key Stats:

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 2.7% in the second quarter of the last fiscal year, 6.6% in third quarter of the last fiscal year and 6.4% in the fourth quarter of the last fiscal year and then fell again in the first quarter.

Wall St. Revenue Expectations: Analysts predict a rise of 0.5% in revenue from the year-earlier quarter to $552.5 million.

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

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