Earnings Preview: Colonial Bancgroup

Colonial Bancgroup (CNB) is expected to report Q2 earnings Wednesday, July 16, after market close with a conference call scheduled for 5:00 pm ET.

Guidance

Analysts are looking for EPS of 1c on revenue of $233.13M. The consensus range for EPS is (14c) to 13c, while the consensus range for revenue is $225.90M to $239.60M, according to First Call.

Analyst Views

Colonial Bancgroup, whose stock had dropped on reports that it will have to raise additional capital, actually will not need to raise more capital, Deal Reporter reported today. The bank's stock soared today shortly after the report was published. On July 3, Morgan Keegan recommended buying Colonial Bancgroup's shares on weakness.