Bank of America Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Bank of America Corp (NYSE:BAC) will unveil its latest earnings on Thursday, April 19, 2012. Bank of America is a bank holding and a financial holding company which, through its subsidiaries, provides banking and other financial services and products to customers in the United States and abroad.

Bank of America Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 12 cents per share, a decline of 29.4% 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 18 cents. Between one and three months ago, the average estimate moved down. It has risen from 11 cents during the last month. Analysts are projecting net income of 68 cents per share versus a loss of 29 cents last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of 15 cents per share versus a mean estimate of net income of 23 cents per share. In the third quarter of the last fiscal year, the company beat estimates by 8 cents.

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Wall St. Revenue Expectations: Analysts predict a decline of 16.3% in revenue from the year-earlier quarter to $22.51 billion.

Analyst Ratings: Analysts seem relatively indifferent about Bank of America with 17 of 23 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, the company swung to a profit of $1.99 billion (16 cents a share) from a loss of $1.24 billion (16 cents) a year earlier, but missed analyst estimates. Revenue rose 4.6% to $29.68 billion from $28.37 billion.

Key Stats:

On the top line, the company is looking to build on two-straight revenue increases with this earnings announcement. Revenue rose 4% in the third quarter of the last fiscal year before climbing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between January 18, 2012 and April 13, 2012, the stock price rose $1.89 (27.8%), from $6.79 to $8.68. The stock price saw one of its best stretches over the last year between January 17, 2012 and January 25, 2012, when shares rose for seven straight days, increasing 13.4% (+87 cents) over that span. It saw one of its worst periods between July 7, 2011 and July 19, 2011 when shares fell for nine straight days, dropping 12.3% (-$1.34) over that span.

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

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