SunTrust Banks, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component SunTrust Banks, Inc. (NYSE:STI) will unveil its latest earnings on Friday, July 22, 2011. SunTrust Banks, Inc. is a financial services holding company whose businesses provide a range of financial services to consumer and corporate clients. Investing in Banks: Mortgage Troubles Still Looming Large>>

SunTrust Banks, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 32 cents per share, a swing from a loss of 11 cents in the year earlier quarter. During the past three months, the average estimate has moved up from 27 cents. Between one and three months ago, the average estimate moved up, and has risen from 31 cents during the last month. For the year, analysts are projecting net income of $1.15 per share, a swing from net loss of 18 cents last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 9 cents, reporting profit of 22 cents per share against a mean estimate of net income of 13 cents per share.

Savvy Investing Tip: Our CHEAT SHEET investing framework recommends only stocks with two straight quarters of earnings growth. Learn More >>

Wall St. Revenue Expectations: On average, analysts predict $2.15 billion in revenue this quarter, a decline of 0.5% from the year ago quarter. Analysts are forecasting total revenue of $8.59 billion for the year, a decline of 1.3% from last year’s revenue of $8.7 billion.

Analyst Ratings: Analysts seem relatively indifferent about SunTrust Banks with 18 of 27 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has now gone up for three straight quarters. In first quarter, revenue rose 7.3% to $2.44 billion while the figure rose 10.8% in the fourth quarter of the last fiscal year from the year earlier and 8.9% in the third quarter of the last fiscal year.

Competitors to Watch: Wells Fargo & Company (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM), KeyCorp (NYSE:KEY), PNC Financial Services (NYSE:PNC), Regions Financial Corp. (NYSE:RF), First Horizon National Corp. (NYSE:FHN), Citigroup Inc. (NYSE:C), Bank of America Corp. (NYSE:BAC), Cadence Financial Corp. (NASDAQ:CADE), and BB&T Corporation (NYSE:BBT).

Stock Price Performance: During May 19, 2011 to July 18, 2011, the stock price had fallen $4.81 (-16.7%) from $28.76 to $23.95. The stock price saw one of its best stretches over the last year between April 26, 2011 and May 3, 2011 when shares rose for six-straight days, rising 3.9% (+$1.08) over that span. It saw one of its worst periods between April 12, 2011 and April 21, 2011 when shares fell for eight-straight days, falling 8.4% (-$2.50) over that span. Shares are down $5.54 (-18.8%) year to date.

(Source: Xignite Financials)

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