Huntington Bancshares Inc. Fourth Quarter Earnings on Deck
S&P 500 (NYSE:SPY) component Huntington Bancshares, Inc. (NASDAQ:HBAN) will unveil its latest earnings on Thursday, January 19, 2012. Huntington Bancshares is a financial holding company that offers various financial services through its subsidiary in several states.
Huntington Bancshares, Inc. Earnings Preview Cheat Sheet.
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 14 cents per share, a rise of more than twofold 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 16 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 15 cents during the last month. For the year, analysts are projecting profit of 60 cents per share, a rise of more than threefold from last year.
Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the third quarter, the company reported net income of 16 cents per share versus a mean estimate of profit of 17 cents per share. In the second quarter, the company beat estimates by one cent.
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Wall St. Revenue Expectations: Analysts are projecting a decline of 3.9% in revenue from the year-earlier quarter to $653.3 million.
Analyst Ratings: Analysts seem relatively indifferent about Huntington Bancshares with 11 of 20 analysts surveyed maintaining a hold rating.
A Look Back: In the third quarter, profit rose 42% to $143.4 million (16 cents a share) from $100.9 million (10 cents a share) the year earlier, but fell short analyst expectations. Revenue fell 6.7% to $750.9 million from $804.5 million.
Revenue has fallen in the past four quarters. Revenue declined 7.4% in the second quarter from the year earlier, dropped 6.4% in first quarter from the year-ago quarter and 7.1% in the fourth quarter of the last fiscal year.
Competitors to Watch: Fifth Third Bancorp (NASDAQ:FITB), FirstMerit Corporation (NASDAQ:FMER), WesBanco, Inc. (NASDAQ:WSBC), Peoples Bancorp Inc. (NASDAQ:PEBO), First Financial Bancorp (NASDAQ:FFBC), Park National Corporation (AMEX:PRK), Wells Fargo & Company (NYSE:WFC), Camco Financial Corp. (NASDAQ:CAFI), Tower Financial Corp. (NASDAQ:TOFC), and PNC Financial Services (NYSE:PNC).
Stock Price Performance: During December 14, 2011 to January 13, 2012, the stock price had risen 98 cents (19.6%) from $4.99 to $5.97. 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, rising 8.7% (+48 cents) over that span. It saw one of its worst periods between February 15, 2011 and February 24, 2011 when shares fell for seven-straight days, falling 10.3% (-77 cents) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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