US Bancorp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component US Bancorp (NYSE:USB) will unveil its latest earnings on Wednesday, October 19, 2011. U.S. Bancorp is a financial holding company that provides financial services through its subsidiaries, including lending and depository services, cash management, foreign exchange and trust and investment management services.

US Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 61 cents per share, a rise of 35.6% 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 55 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 61 cents during the last month. For the year, analysts are projecting profit of $2.34 per share, a rise of 36.8% from 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 6 cents, reporting net income of 60 cents per share against a mean estimate of profit of 54 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 2.4% in revenue from the year-earlier quarter to $4.7 billion.

Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy, two rating it as a sell and eight rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the second quarter, profit rose 25.6% to $1.2 billion (60 cents a share) from $958 million (45 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 3.3% to $5.27 billion from $5.11 billion.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 56.4% in the first quarter and 61.8% in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 4.1% in the first quarter from the year earlier, climbed 6.5% in the fourth quarter of the last fiscal year from the year-ago quarter and 4.8% in the third quarter of the last fiscal year.

Competitors to Watch: Bank of America Corp. (NYSE:BAC), Wells Fargo & Company (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Comerica Incorporated (NYSE:CMA), Zions Bancorporation (NASDAQ:ZION), Pinnacle Financial Partners (NASDAQ:PNFP), Regions Financial Corp. (NYSE:RF), Goldman Sachs Group, Inc. (NYSE:GS), and Capitol Bancorp Ltd. (NYSE:CBC).

Stock Price Performance: During August 17, 2011 to October 13, 2011, the stock price had risen $2.02 (9.1%) from $22.31 to $24.33. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 16, 2011 when shares rose for six-straight days, rising 9.5% (+$2.09) over that span. It saw one of its worst periods between July 25, 2011 and August 2, 2011 when shares fell for seven-straight days, falling 6.7% (-$1.81) over that span. Shares are down $2.24 (-8.4%) year to date.

(Source: Xignite Financials)

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