Capital One (COF) Sees Q1 Operating GAAP EPS of $2.50, Inclusive of $1.15 Gain
Tweet
Share
E-mailGet Alerts COF Hot Sheet
Price: $217.91 +2.56%
Financial Fact:
Communications and data processing: 252M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Communications and data processing: 252M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Capital One Financial Corp. (NYSE: COF) issued an updated outlook for Q112, seeing operating EPS of at least $2.50 on a GAAP basis.
Excluding a $600 million gain on the item listed below, that EPS should be about $1.35.
The Street sees $1.37.
n March 13, 2012, the Company was informed that the Federal Reserve had no objection to the capital actions contained in the Company’s capital plan submitted under CCAR. The Company announced two strategic acquisitions in 2011 and the expectation that it would raise common equity capital in support of each acquisition. As a result, as part of its capital plan for CCAR, the Company included a $1.25 billion common equity raise by the end of the second quarter of 2012. On March 14, 2012, the Company issued a press release announcing an underwritten public offering of $1.25 billion of its common stock. Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as book-running managers for the offering. The Company intends to use the net proceeds of the offering to fund a portion of its previously announced acquisition of the HSBC U.S. credit card business.
Excluding a $600 million gain on the item listed below, that EPS should be about $1.35.
The Street sees $1.37.
n March 13, 2012, the Company was informed that the Federal Reserve had no objection to the capital actions contained in the Company’s capital plan submitted under CCAR. The Company announced two strategic acquisitions in 2011 and the expectation that it would raise common equity capital in support of each acquisition. As a result, as part of its capital plan for CCAR, the Company included a $1.25 billion common equity raise by the end of the second quarter of 2012. On March 14, 2012, the Company issued a press release announcing an underwritten public offering of $1.25 billion of its common stock. Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as book-running managers for the offering. The Company intends to use the net proceeds of the offering to fund a portion of its previously announced acquisition of the HSBC U.S. credit card business.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Capital One Announces Full Redemption of Its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M
- Bill.com (BILL) Tops Q4 EPS by 14c, Beats on Revenue; Offers FY27 Guidance
- Advance Auto Parts (AAP) Tops Q2 EPS by 22c; lifrs profit guidance
Create E-mail Alert Related Categories
GuidanceRelated Entities
Credit Suisse, Citi, Morgan Stanley, Barclays, HSBCSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
