S&P 500 (NYSE:SPY) component Huntington Bancshares, Inc. (NASDAQ:HBAN) will unveil its latest earnings on Thursday, July 21, 2011. Huntington Bancshares Inc. is a financial holding company that offers various financial services through its subsidiary in several states. Dodd-Frank is a Year Older but Banks Still Not Clear on Rules>>
Huntington Bancshares, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 15 cents per share, a rise of fivefold 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 13 cents. For the year, analysts are projecting net income of 60 cents per share, a rise of more than threefold from last year.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported profit of 13 cents per share against a mean estimate of net income of 12 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 3 cents.
Wall St. Revenue Expectations: On average, analysts predict $653 million in revenue this quarter, a decline of 2.4% from the year ago quarter. Analysts are forecasting total revenue of $2.63 billion for the year, a decline of 1.1% from last year’s revenue of $2.66 billion.
Analyst Ratings: Analysts are bullish on this stock with 11 analysts rating it as a buy, one rating it as a sell and five rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.
Revenue has fallen in the past four quarters. Revenue declined 6.4% to $743 million in first quarter. The figure fell 7.1% in the fourth quarter of the last fiscal year from the year earlier, dropped 0.7% in third quarter of the last fiscal year from the year-ago quarter and 2.5% in the second 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 May 18, 2011 to July 15, 2011, the stock price had fallen 39 cents (-6%) from $6.53 to $6.14. The stock price saw one of its best stretches over the last year between November 26, 2010 and December 6, 2010 when shares rose for seven-straight days, rising 16.5% (+91 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% (-78 cents) over that span. Shares are down 71 cents (-10.4%) year to date.
(Source: Xignite Financials)
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