The upcoming report from Comerica Incorporated (CMA) is expected to reveal quarterly earnings of $1.14 per share, indicating a decline of 11.6% compared to the year-ago period. Analysts forecast revenues of $829.64 million, representing an increase of 5.8% year over year.
The consensus EPS estimate for the quarter has been revised 1.8% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Comerica metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Efficiency Ratio' to reach 71.9%. The estimate is in contrast to the year-ago figure of 76.9%.
The average prediction of analysts places 'Average Balance - Total earning assets' at $71.18 billion. The estimate is in contrast to the year-ago figure of $75.81 billion.
The combined assessment of analysts suggests that 'Total nonperforming assets' will likely reach $314.05 million. Compared to the current estimate, the company reported $217 million in the same quarter of the previous year.
Analysts' assessment points toward 'Total nonperforming loans' reaching $317.08 million. The estimate is in contrast to the year-ago figure of $217 million.
Based on the collective assessment of analysts, 'Total noninterest income' should arrive at $266.25 million. The estimate is in contrast to the year-ago figure of $236 million.
The consensus among analysts is that 'Net interest income' will reach $566.88 million. Compared to the present estimate, the company reported $548 million in the same quarter last year.
Analysts expect 'Service charges on deposit accounts' to come in at $46.05 million. Compared to the present estimate, the company reported $45 million in the same quarter last year.
It is projected by analysts that the 'Fiduciary income' will reach $54.23 million. Compared to the current estimate, the company reported $51 million in the same quarter of the previous year.
Analysts predict that the 'Commercial lending fees' will reach $17.35 million. The estimate compares to the year-ago value of $16 million.
According to the collective judgment of analysts, 'Bank-owned life insurance' should come in at $11.03 million. The estimate compares to the year-ago value of $10 million.
The consensus estimate for 'Capital markets income' stands at $36.72 million. Compared to the current estimate, the company reported $30 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Letter of credit fees' of $9.95 million. Compared to the present estimate, the company reported $10 million in the same quarter last year.
View all Key Company Metrics for Comerica here>>>
Comerica shares have witnessed a change of -9.9% in the past month, in contrast to the Zacks S&P 500 composite's -3.9% move. With a Zacks Rank #3 (Hold), CMA is expected closely follow the overall market performance in the near term. 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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