Inside Popular, Inc.’s Upcoming Second Quarter Earnings

Popular, Inc. (NASDAQ:BPOP) will unveil its latest earnings on Wednesday, July 20, 2011. Popular, Inc. is a publicly owned bank holding company, which offers retail and commercial banking services through its main banking subsidiary, Banco Popular de Puerto Rico.

Popular, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 5 cents per share, a swing from net loss of 29 cents in the year earlier quarter. During the past three months, the average estimate has moved up from 3 cents. For the year, analysts are projecting profit of 19 cents per share, a swing from a loss of 54 cents last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of one cent per share against a mean estimate of 0 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 21 cents.

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Wall St. Revenue Expectations: On average, analysts predict $453.9 million in revenue this quarter, a decline of 8.3% from the year ago quarter. Analysts are forecasting total revenue of $1.84 billion for the year, a decline of 28.7% from last year’s revenue of $2.58 billion.

Analyst Ratings: Analysts are bullish on this stock with four analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

Key Stats:

Revenue has now gone up for three straight quarters. In first quarter, revenue rose 11.1% to $649.8 million while the figure rose 2.5% in the fourth quarter of the last fiscal year from the year earlier and more than twofold in the third quarter of the last fiscal year.

Competitors to Watch: Doral Financial Corp. (NYSE:DRL), Oriental Financial Group Inc. (NYSE:OFG), First BanCorp. (NYSE:FBP), Eurobancshares Inc. (EUBK), R&G Financial Corporation (RGFCQ), W Holding Company, Inc. (WHI), Bank of America Corp. (NYSE:BAC), SunTrust Banks, Inc. (NYSE:STI), Wells Fargo & Company (NYSE:WFC), and The Bank of Nova Scotia (NYSE:BNS).

Stock Price Performance: During April 18, 2011 to July 14, 2011, the stock price had fallen 49 cents (-15.9%) from $3.08 to $2.59. The stock price saw one of its best stretches over the last year between March 31, 2011 and April 6, 2011 when shares rose for five-straight days, rising 6.8% (+20 cents) over that span. It saw one of its worst periods between July 29, 2010 and August 9, 2010 when shares fell for eight-straight days, falling 10.3% (-30 cents) over that span. Shares are down 55 cents (-17.5%) year to date.

(Source: Xignite Financials)

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