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S&P 500 (NYSE:SPY) component Zions Bancorp (NASDAQ:ZION) will unveil its latest earnings on Monday, October 22, 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 31 cents per share, a decline of 11.4% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 36 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 32 cents during the last month. Analysts are projecting profit to rise by 37.3% compared to last year’s $1.14.
Past Earnings Performance: For the past three quarters, the company’s quarterly results have come in below analyst’s expectations. Last quarter, the company reported profit of 30 cents per share versus a mean estimate of net income of 33 cents per share.
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A Look Back: In the second quarter, profit rose 25.9% to $91.7 million (30 cents a share) from $72.9 million (16 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 6.3% to $648.6 million from $692.2 million.
Stock Price Performance: Between July 23, 2012 and October 16, 2012, the stock price rose $3.33 (17.9%), from $18.57 to $21.90. The stock price saw one of its best stretches over the last year between September 25, 2012 and October 5, 2012, when shares rose for nine straight days, increasing 8.1% (+$1.65) over that span. It saw one of its worst periods between July 18, 2012 and July 25, 2012 when shares fell for six straight days, dropping 8.1% (-$1.57) over that span.
Wall St. Revenue Expectations: Analysts predict a decline of 5.1% in revenue from the year-earlier quarter to $561.4 million.
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 6.6% in the third quarter of the last fiscal year, 6.4% in fourth quarter of the last fiscal year and 7.1% in the first quarter and then fell again in the second quarter.
Analyst Ratings: There are mostly holds on the stock with 14 of 21 analysts surveyed giving that rating.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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