Earnings Preview: Synovus Financial Reports Results Tuesday

 |  About: Synovus Financial Corp. (SNV)
by: Robert Weinstein

Synovus Financial Corp. (NYSE:SNV) is anticipated to report earnings before the opening bell on January 24, 2012.

Synovus Financial Corp., a diversified financial services and bank holding company, provides commercial and retail banking, financial management, insurance, and mortgage services in Georgia, Alabama, South Carolina, Florida, and Tennessee. The company was founded in 1888 and is headquartered in Columbus, Georgia. SNV trades an average of 7.2 million shares per day.

52 Week High: $2.93
52 Week Low: $0.94
Book Value: $3.60
Float Short: 8.09%

Analyst estimates range between $-0.03 and $0.02 per share.
As you can see by the 52 week high and low, this is almost a penny stock to trade. The stock has started to show some life after bouncing off the lows set in October. The moving averages are finally turning upward except for the 200 day moving average. Since the 200 day is arguably the most important, it will be good to see it bottom out as well. The stock is close and if it does break above the percentage gain may be quite large. Until it does though, this is still a bearish looking bank.

The bottom line has rising earnings year-over-year of $-790.68 million for 2010 vs. $-1.43 billion for 2009.

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Sep-11 $ 299.71 M $ 361.99 M $ 62.28 M 20.78%
Jun-11 $ 303.56 M $ 298.81 M $ -4.75 M -1.56%
Mar-11 $ 311.32 M $ 301.60 M $ -9.72 M -3.12%
Dec-10 $ 316.64 M $ 321.86 M $ 5.22 M 1.65%
Sep-10 $ 319.70 M $ 327.22 M $ 7.52 M 2.35%
Click to enlarge

M = millions, B = billions.
Differences are rounded.
Some onetime items are often excluded in reported EPS.

paid2trade.com Quarterly Estimates And Actual EPS results SNV Click to enlargeReported earnings per share compared to the mean estimate. Differences are rounded.

The total short interest number of shares for SNV:

paid2trade.com short interest tool. The total short interest number of shares for SNV Click to enlarge

The number of days to cover short interest based on average daily trading volume for SNV:

paid2trade.com number of days to cover short interest based on average daily trading volume for SNV Click to enlarge

I use a proprietary blend of technical analysis, financial crowd behavior, and fundamentals in my short-term trades, and while not totally the same in longer swing trades to investments, the concepts used are similar. You may want to use this article as a starting point of your own research with your financial planner. I use Seeking Alpha, Edgar Online, and Yahoo Finance for most of my data. I use the confirmed symbols from earnings.com that I believe to be of the most interest.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.