S&P 500 (NYSE:SPY) component Regions Financial (NYSE:RF) will unveil its latest earnings on Tuesday, October 23, 2012. 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 profit of 20 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 16 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 20 cents during the last month. Analysts are projecting profit to rise by 335.3% compared to last year’s 74 cents.
Past Earnings Performance: Last quarter, the company beat estimates by 6 cents, coming in at net income of 20 cents a share versus the estimate of profit of 14 cents a share. It marked the fourth straight quarter of beating estimates.
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A Look Back: In the second quarter, profit rose more than threefold to $355 million (20 cents a share) from $109 million (4 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 19.6% to $1.5 billion from $1.87 billion.
Wall St. Revenue Expectations: On average, analysts predict $1.36 billion in revenue this quarter, a decline of 15% from the year-ago quarter. Analysts are forecasting total revenue of $5.43 billion for the year, a decline of 2.2% from last year’s revenue of $5.55 billion.
Stock Price Performance: Between July 24, 2012 and October 17, 2012, the stock price rose 53 cents (8%), from $6.65 to $7.18. The stock price saw one of its best stretches over the last year between June 26, 2012 and July 3, 2012, when shares rose for six straight days, increasing 7.9% (+50 cents) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 8.1% (-54 cents) over that span.
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 5.1% in the third quarter of the last fiscal year, 67% in fourth quarter of the last fiscal year and 21.7% in the first quarter and then fell again in the second quarter.
Analyst Ratings: There are mostly holds on the stock with 13 of 22 analysts surveyed giving that rating.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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