West Coast Bancorp Fourth Quarter Earnings Sneak Peek
West Coast Bancorp (NASDAQ:WCBO) will unveil its latest earnings on Thursday, January 24, 2013. West Coast Bancorp is a bank holding company through its subsidiaries which provides a full range of financial services including lending and depository services through 64 branch banking offices in Oregon and Washington.
West Coast Bancorp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 26 cents per share, a decline of 68.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 27 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 26 cents during the last month. For the year, analysts are projecting profit of $1.08 per share, a decline of 31.6% from last year.
Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 29 cents per share versus a mean estimate of profit of 27 cents per share.
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Wall St. Revenue Expectations: On average, analysts predict $30.2 million in revenue this quarter, a rise of 23.9% from the year-ago quarter. Analysts are forecasting total revenue of $120.5 million for the year, a rise of 7.1% from last year’s revenue of $112.6 million.
A Look Back: In the third quarter, profit fell 5.3% to $5.9 million (27 cents a share) from $6.3 million (29 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 6.8% to $30.9 million from $33.1 million.
Analyst Ratings: There are mostly holds on the stock with four of four analysts surveyed giving that rating.
After last quarter’s profit drop broke a string of income increases, this earnings announcement is definitely a chance for a rebound. Net income rose 829% in the fourth quarter of the last fiscal year, 13.4% in the first quarter and 30.2% in the second quarter before declining in the third quarter.
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 11.5% in the fourth quarter of the last fiscal year, 7.7% in first quarter and 6.1% 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)