The upcoming report from Comerica Incorporated (CMA) is expected to reveal quarterly earnings of $1.23 per share, indicating a decline of 19.6% compared to the year-ago period. Analysts forecast revenues of $844.72 million, representing an increase of 2.5% year over year.
The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Comerica metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Efficiency Ratio' stands at 70.1%. Compared to the present estimate, the company reported 67.8% in the same quarter last year.
It is projected by analysts that the 'Average Balance - Total earning assets' will reach $70.40 billion. Compared to the current estimate, the company reported $71.83 billion in the same quarter of the previous year.
Analysts forecast 'Total nonperforming assets' to reach $306.34 million. Compared to the current estimate, the company reported $226.00 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Total nonperforming loans' will likely reach $308.51 million. The estimate compares to the year-ago value of $226.00 million.
According to the collective judgment of analysts, 'Net interest income' should come in at $576.45 million. Compared to the current estimate, the company reported $533.00 million in the same quarter of the previous year.
Analysts' assessment points toward 'Total noninterest income' reaching $263.45 million. Compared to the present estimate, the company reported $291.00 million in the same quarter last year.
Analysts predict that the 'Service charges on deposit accounts' will reach $46.96 million. The estimate compares to the year-ago value of $46.00 million.
Based on the collective assessment of analysts, 'Commercial lending fees' should arrive at $16.82 million. Compared to the current estimate, the company reported $17.00 million in the same quarter of the previous year.
The average prediction of analysts places 'Fiduciary income' at $54.69 million. The estimate compares to the year-ago value of $58.00 million.
Analysts expect 'Letter of credit fees' to come in at $11.94 million. The estimate is in contrast to the year-ago figure of $10.00 million.
The collective assessment of analysts points to an estimated 'Capital markets income' of $32.83 million. Compared to the present estimate, the company reported $37.00 million in the same quarter last year.
The consensus among analysts is that 'Card fees' will reach $60.98 million. The estimate is in contrast to the year-ago figure of $64.00 million.
View all Key Company Metrics for Comerica here>>>
Shares of Comerica have demonstrated returns of +15.1% over the past month compared to the Zacks S&P 500 composite's +5% change. With a Zacks Rank #3 (Hold), CMA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Comerica Incorporated (CMA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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