S&P 500 (NYSE:SPY) component Huntington Bancshs (NASDAQ:HBAN) will unveil its latest earnings on Thursday, October 18, 2012. Huntington Bancshares is a financial holding company that offers various financial services through its subsidiary in several states.
Huntington Bancshs Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 17 cents per share, a rise of 6.3% 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 16 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 17 cents during the last month. Analysts are projecting profit to rise by 13.6% compared to last year’s 67 cents.
Past Earnings Performance: The company has beaten estimates the last two quarters and is coming off a quarter where it topped the forecasts by 2 cents, reporting profit of 17 cents per share against a mean estimate of net income of 15 cents. In the first quarter, the company exceeded forecasts by 3 cents with profit of 17 cents versus a mean estimate of net income of 14 cents.
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Stock Price Performance: Between August 16, 2012 and October 12, 2012, the stock price had risen 46 cents (7.1%), from $6.47 to $6.93. 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, increasing 8.7% (+48 cents) over that span. It saw one of its worst periods between September 14, 2012 and September 21, 2012 when shares fell for six straight days, dropping 3.6% (-26 cents) over that span.
Wall St. Revenue Expectations: Analysts predict a rise of 5.6% in revenue from the year-earlier quarter to $702.5 million.
A Look Back: In the second quarter, profit rose 4.7% to $152.7 million (17 cents a share) from $145.9 million (16 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 0.9% to $741.6 million from $748.1 million.
After experiencing income increases the last three quarters, the company is hoping to keep the good news coming with this earnings announcement. Net income rose 3.2% in the fourth quarter of the last fiscal year and 21.2% in the first quarter before increasing again in the second quarter.
Analyst Ratings: There are mostly holds on the stock with 14 of 20 analysts surveyed giving that rating.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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