Regions Financial Fourth Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Regions Financial (NYSE:RF) will unveil its latest earnings tomorrow, Tuesday, January 22, 2013. Regions Financial provides a range of banking and bank-related services to individual and corporate customers through its subsidiaries.
Regions Financial Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 21 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 up from 20 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 21 cents during the last month. Analysts are projecting profit to rise by 341.2% compared to last year’s 75 cents.
Past Earnings Performance: Last quarter, the company beat estimates by 2 cents, coming in at profit of 22 cents a share versus the estimate of net income of 20 cents a share. It marked the fourth straight quarter of beating estimates.
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A Look Back: In the third quarter, profit rose 94.2% to $301 million (21 cents a share) from $155 million (8 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 17.3% to $1.5 billion from $1.81 billion.
Here’s how Regions Financial traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:
Analyst Ratings: There are mostly holds on the stock with 11 of 21 analysts surveyed giving that rating.
Wall St. Revenue Expectations: Analysts are projecting a decline of 0.7% in revenue from the year-earlier quarter to $1.35 billion.
On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 67% in the fourth quarter of the last fiscal year, 21.7% in first quarter and 19.6% in the second quarter and then fell again in the third quarter.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)