Brokerages Expect Capital One Financial Corp. (COF) Will Announce Quarterly Sales of $6.87 Billion

Equities research analysts expect Capital One Financial Corp. (NYSE:COF) to announce $6.87 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Capital One Financial’s earnings. The lowest sales estimate is $6.75 billion and the highest is $7.08 billion. Capital One Financial reported sales of $6.99 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, October 23rd.

On average, analysts expect that Capital One Financial will report full-year sales of $27.92 billion for the current financial year, with estimates ranging from $27.71 billion to $28.36 billion. For the next year, analysts expect that the firm will post sales of $28.57 billion, with estimates ranging from $27.95 billion to $29.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Capital One Financial.

Capital One Financial (NYSE:COF) last issued its quarterly earnings data on Thursday, July 19th. The financial services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.59. Capital One Financial had a net margin of 10.73% and a return on equity of 10.44%. The firm had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The company’s revenue was up 7.3% on a year-over-year basis.

A number of equities research analysts have commented on COF shares. Piper Jaffray Companies raised shares of Capital One Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, June 14th. Citigroup decreased their price objective on shares of Capital One Financial from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, June 18th. Credit Suisse Group raised shares of Capital One Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $110.00 to $120.00 in a report on Monday, July 2nd. UBS Group raised shares of Capital One Financial from a “market perform” rating to an “outperform” rating in a report on Monday, July 9th. Finally, Oppenheimer raised shares of Capital One Financial from a “market perform” rating to an “outperform” rating and set a $113.00 target price on the stock in a research note on Monday, July 9th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $111.10.

NYSE:COF traded up $0.37 during mid-day trading on Wednesday, reaching $96.43. 2,702,600 shares of the company were exchanged, compared to its average volume of 2,413,957. Capital One Financial has a 12 month low of $83.88 and a 12 month high of $106.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.06. The firm has a market cap of $45.42 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.81 and a beta of 1.29.

In other news, insider Timothy P. Golden sold 4,073 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $95.85, for a total value of $390,397.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin S. Borgmann sold 19,117 shares of the stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $100.00, for a total transaction of $1,911,700.00. Following the completion of the sale, the insider now owns 62,567 shares in the company, valued at $6,256,700. The disclosure for this sale can be found here. Insiders sold a total of 281,726 shares of company stock worth $27,993,497 in the last ninety days. Insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Chemung Canal Trust Co. acquired a new stake in shares of Capital One Financial in the 3rd quarter valued at approximately $2,389,000. Fox Run Management L.L.C. raised its position in shares of Capital One Financial by 255.8% in the 3rd quarter. Fox Run Management L.L.C. now owns 8,550 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 6,147 shares during the period. Legacy Capital Partners Inc. raised its position in shares of Capital One Financial by 19.7% in the 3rd quarter. Legacy Capital Partners Inc. now owns 4,659 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 766 shares during the period. Old Port Advisors acquired a new stake in shares of Capital One Financial in the 2nd quarter valued at approximately $319,000. Finally, Rehmann Capital Advisory Group raised its position in shares of Capital One Financial by 13.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 9,275 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 1,076 shares during the period. Institutional investors and hedge funds own 88.29% of the company’s stock.

About Capital One Financial

Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association; and Capital One, National Association, which provides various financial products and services in the United States, the United Kingdom, and Canada. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.

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