Popular, Inc. Third Quarter Earnings Sneak Peek

Popular, Inc. (NASDAQ:BPOP) will unveil its latest earnings on Wednesday, October 19, 2011. Popular is a publicly owned bank holding company that 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 6 cents per share, a decline of 14.3% 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 5 cents. Between one and three months ago, the average estimate moved up. It has dropped from 7 cents during the last month. For the year, analysts are projecting profit of 25 cents per share, a swing from a loss of 54 cents last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported net income of 7 cents per share against a mean estimate of profit of 5 cents, and the quarter before, the company exceeded forecasts by one cent with net income of one cent versus a mean estimate of 0 cents.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 12.9% in revenue from the year-earlier quarter to $472.7 million.

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

A Look Back: In the second quarter, the company swung to a profit of $110.7 million (11 cents a share) from a loss of $55.8 million (29 cents) a year earlier, beating analyst estimates. Revenue fell 6.2% to $631.1 million from $672.6 million.

Key Stats:

A year-over-year revenue decrease in the second quarter snapped a streak of three consecutive quarters of revenue increases. Revenue rose 11.1%in the first quarter, 2.5% in the fourth quarter of the last fiscal year 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), Deutsche Bank (NYSE:DB), JP Morgan (NYSE:JPM), Bank of America Corp. (NYSE:BAC), SunTrust Banks, Inc. (NYSE:STI), Citigroup (NYSE:C), Wells Fargo & Company (NYSE:WFC), and The Bank of Nova Scotia (NYSE:BNS).

Stock Price Performance: During July 20, 2011 to October 13, 2011, the stock price had fallen 96 cents (-37.5%) from $2.56 to $1.60. The stock price saw one of its best stretches over the last year between October 7, 2011 and October 13, 2011 when shares rose for five-straight days, rising 9.6% (+14 cents) over that span. It saw one of its worst periods between July 20, 2011 and July 28, 2011 when shares fell for seven-straight days, falling 10.9% (-28 cents) over that span. Shares are down $1.54 (-49%) year to date.

(Source: Xignite Financials)

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