S&P 500 (NYSE:SPY) component Huntington Bancshs (NASDAQ:HBAN) will unveil its latest earnings on Thursday, July 19, 2012. Huntington Bancshares is a financial holding company that offers various financial services through its subsidiary in several states.
Huntington Bancshs Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 15 cents per share, a decline of 6.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 14 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 15 cents during the last month. For the year, analysts are projecting profit of 64 cents per share, a rise of 8.5% from last year.
Past Earnings Performance: Last quarter, the company topped estimates by 0 cents, coming in at net income of 17 cents per share against a mean estimate of profit of 14 cents. The company fell in line with estimates in the fourth quarter of the last fiscal year.
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A Look Back: In the first quarter, profit rose 21.2% to $153.3 million (17 cents a share) from $126.4 million (14 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 3.2% to $766.5 million from $743 million.
Stock Price Performance: From June 14, 2012 to July 13, 2012, the stock price rose 27 cents (4.3%), from $6.21 to $6.48. 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 8.7% (+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 4.4% (-26 cents) over that span.
Analyst Ratings: There are mostly holds on the stock with 13 of 20 analysts surveyed giving that rating.
This upcoming earnings announcement will be a chance to build on positive earnings momentum over the last three quarters. Net income rose 42% in the third quarter of the last fiscal year and 3.2% 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 last quarter’s revenue increase, which snapped a string of revenue drops. Revenue fell 7.4% in the second quarter of the last fiscal year, 6.7% in the third quarter of the last fiscal year and 9.8% in the fourth quarter of the last fiscal year before climbing in the first quarter.
Wall St. Revenue Expectations: On average, analysts predict $674.9 million in revenue this quarter, a rise of 1.8% from the year-ago quarter. Analysts are forecasting total revenue of $2.72 billion for the year, a rise of 4.2% from last year’s revenue of $2.61 billion.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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