Earnings from Huntington Bancshares Incorporated [HBAN] are scheduled on April 22, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
HBAN Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $0.35 per share on revenue of $1.22B. Taking a look at the future, the company is projected to report revenue of $1.25B at an earnings per share of $0.3 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 16.50% in revenue and 18.44% in earnings per share for the company.
HBAN Stock Earnings Forecast For The Current Year
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For the full financial year, Huntington Bancshares Incorporated [NASDAQ:HBAN] is forecasted to generate revenue of $5.94B. The figure is about $1.1 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $1.19 in 2021, which is $0.5 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 72.50% this year, 18.50% next year, and -2.15% annually over the next five years. With regard to sales, forecasts suggest an incline of 22.80% in current fiscal year and 16.50% over following year.
HBAN Stock Price Performance
At the close of Wednesday’s session, Huntington Bancshares Incorporated [NASDAQ:HBAN] finished up 2.18% at $15.50. The stock’s highest single-day price was $15.58, and its lowest was $14.88. Its price fall -5.26% in the last five days. Since the beginning of the year, Huntington Bancshares Incorporated’s shares are up nearly 22.72%. However, the share price is -8.34% below its one year high. The top price reached by the shares of the company was $16.91 on 03/18/21, while the 52-week low came on 01/04/21, when the shares were $12.41. In the past year, shares of the company have risen 98.72%. At 50 days, the moving average achieved is $15.77 while at 200 days, the moving average is $12.18. There were 16.21 million shares traded in the last session, up from 0.91 million in the previous session.
Huntington Bancshares Incorporated [NASDAQ:HBAN] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 22.33, Huntington Bancshares Incorporated [HBAN] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 13.12 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 4.32 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.71 for the industry, which means HBAN offers an unattractive investment opportunity than its competitors do.
HBAN Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 15.50 level, and the violation of this level will cause a further drop to 15.06 level. At the upper end, 16.46 remains a key resistance. As the stock increases, it may find resistance at 16.02. In the 14-day chart, the Relative Strength Index standing at 44.68 suggests a technical neutral stance while the MACD standing at -0.52 indicates price will decrease in the next trading period. Stochastic %K at 21.77% suggests holding the stock while Percent R indicator at 62.54% suggests low price movement.
How much is the short interest in Huntington Bancshares Incorporated?
There have been a drop in short interest in the Huntington Bancshares Incorporated Financial stock, with short interest down by -1.04 million shares to 39.89 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 38.85 million shares. This 2.61% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 4.31% of the overall float in the stock, while the stock’s days to cover moved to 3.23.
How do analysts view Huntington Bancshares Incorporated?
In regard to the share price forecast for Huntington Bancshares Incorporated stock, the analysts, as surveyed by FactSet, forecast the price to reach $17.50 in the next twelve months, representing almost an 11.43% growth from its recent price of $15.50. Among Huntington Bancshares Incorporated stock projections, $20.00 is the highest analyst target for the stock, while $15.00 is the lowest. Despite this, 19 analysts who share their consensus rating for HBAN in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/01/21, when Deutsche Bank Ratings launched coverage of the stock at “Hold” and assigned a price target of $16.0.