Hudson City Bancorp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hudson City Bancorp (NASDAQ:HCBK) will unveil its latest earnings on Wednesday, October 24, 2012. 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 estimate of analysts is for profit of 14 cents per share, a decline of 17.6% from the company’s actual earnings for the same quarter a year ago. 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 net income of 57 cents per share, a swing from net loss of $1.49 last year.

Past Earnings Performance: Last quarter, the company topped estimates by 0 cents, coming in at profit of 15 cents per share against a mean estimate of net income of 14 cents. The company fell in line with estimates in the first quarter.

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Stock Price Performance: Between July 25, 2012 and October 18, 2012, the stock price rose $2.90 (49.6%), from $5.85 to $8.75. The stock price saw one of its best stretches over the last year between April 19, 2012 and April 27, 2012, when shares rose for seven straight days, increasing 7.7% (+51 cents) over that span.

A Look Back: In the second quarter, profit fell 24.7% to $72.3 million (15 cents a share) from $96 million (19 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 21.9% to $433.6 million from $555.5 million.

Wall St. Revenue Expectations: On average, analysts predict $218 million in revenue this quarter, a decline of 10.9% from the year-ago quarter. Analysts are forecasting total revenue of $891.7 million for the year, a decline of 9.1% from last year’s revenue of $980.9 million.

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 27% in the third quarter of the last fiscal year, 32.6% in fourth quarter of the last fiscal year and 37.5% in the first quarter and then fell again in the second quarter.

Analyst Ratings: There are mostly holds on the stock with nine of 12 analysts surveyed giving that rating.

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

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