Comerica Incorporated (CMA) closed the most recent trading day at $42.42, moving -1.07% from the previous trading session. This change lagged the S&P 500’s 0.37% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Prior to today’s trading, shares of the company had gained 10.54% over the past month. This has outpaced the Finance sector’s gain of 6.02% and the S&P 500’s gain of 7.18% in that time.
Wall Street will be looking for positivity from Comerica Incorporated as it approaches its next earnings report date. This is expected to be July 21, 2023. On that day, Comerica Incorporated is projected to report earnings of $1.94 per share, which would represent year-over-year growth of 1.04%. Meanwhile, our latest consensus estimate is calling for revenue of $910.12 million, up 9.79% from the prior-year quarter.
CMA’s full-year Zacks Consensus Estimates are calling for earnings of $8.13 per share and revenue of $3.73 billion. These results would represent year-over-year changes of -4.01% and +5.49%, respectively.
It is also important to note the recent changes to analyst estimates for Comerica Incorporated. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.18% lower within the past month. Comerica Incorporated is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Comerica Incorporated has a Forward P/E ratio of 5.27 right now. This represents a discount compared to its industry’s average Forward P/E of 8.3.
We can also see that CMA currently has a PEG ratio of 1.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. CMA’s industry had an average PEG ratio of 1.23 as of yesterday’s close.
The Banks – Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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