Hudson City Bancorp Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hudson City Bancorp (NASDAQ:HCBK) will unveil its latest earnings tomorrow, Wednesday, January 30, 2013. Hudson City Bancorp is a holding company for Hudson City Savings Bank, which is a retail savings bank offering traditional deposit products, consumer loans and residential real estate mortgage loans.

Hudson City Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of 12 cents per share, a spike from a loss of 73 cents in the year-ago quarter. During the past three months, the average estimate has moved down from 13 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 12 cents during the last month. For the year, analysts are projecting net income of 53 cents per share, a swing from net loss of $1.49 last year.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the third quarter, it reported profit of 12 cents per share against a mean estimate of 14 cents. Two quarters ago, it beat expectations by one cent with net income of 15 cents.

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A Look Back: In the third quarter, profit fell 33.6% to $55.9 million (11 cents a share) from $84.2 million (17 cents a share) the year earlier, missing analyst expectations. Revenue fell 22.6% to $408.4 million from $527.6 million.

Here’s how Hudson City Bancorp traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:


Wall St. Revenue Expectations: On average, analysts predict $197.9 million in revenue this quarter, a decline of 4.4% from the year-ago quarter. Analysts are forecasting total revenue of $862 million for the year, a decline of 12.1% from last year’s revenue of $980.9 million.

Analyst Ratings: There are mostly holds on the stock with seven of 11 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 32.6% in the fourth quarter of the last fiscal year, 37.5% in first quarter and 21.9% in the second quarter and then fell again in the third quarter.

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