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Compared to Estimates, Comerica (CMA) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Comerica Incorporated (CMA - Free Report) reported revenue of $824 million, down 10.8% over the same period last year. EPS came in at $1.53, compared to $2.01 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $812.79 million, representing a surprise of +1.38%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being $1.19.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Comerica performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 2.9% versus 2.9% estimated by seven analysts on average.
Average Balance - Total earning assets: $73.82 billion compared to the $73.22 billion average estimate based on seven analysts.
Efficiency Ratio: 67.8% versus the seven-analyst average estimate of 70.3%.
Net charge-offs (recoveries)/Average total loans: 0.1% versus 0.2% estimated by six analysts on average.
Total nonperforming assets: $226 million versus $220.67 million estimated by three analysts on average.
Tier 1 capital ratio: 12.1% versus 12.2% estimated by two analysts on average.
Total capital ratio: 14% versus the two-analyst average estimate of 14.4%.
Total nonperforming loans: $226 million versus the two-analyst average estimate of $222 million.
Net interest income: $533 million compared to the $530.09 million average estimate based on seven analysts.
Total noninterest income: $291 million versus $282.24 million estimated by seven analysts on average.
Service charges on deposit accounts: $46 million compared to the $46.07 million average estimate based on five analysts.
Commercial lending fees: $17 million versus the five-analyst average estimate of $16.59 million.
Shares of Comerica have returned +19.1% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Comerica (CMA) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Comerica Incorporated (CMA - Free Report) reported revenue of $824 million, down 10.8% over the same period last year. EPS came in at $1.53, compared to $2.01 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $812.79 million, representing a surprise of +1.38%. The company delivered an EPS surprise of +28.57%, with the consensus EPS estimate being $1.19.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Comerica performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.9% versus 2.9% estimated by seven analysts on average.
- Average Balance - Total earning assets: $73.82 billion compared to the $73.22 billion average estimate based on seven analysts.
- Efficiency Ratio: 67.8% versus the seven-analyst average estimate of 70.3%.
- Net charge-offs (recoveries)/Average total loans: 0.1% versus 0.2% estimated by six analysts on average.
- Total nonperforming assets: $226 million versus $220.67 million estimated by three analysts on average.
- Tier 1 capital ratio: 12.1% versus 12.2% estimated by two analysts on average.
- Total capital ratio: 14% versus the two-analyst average estimate of 14.4%.
- Total nonperforming loans: $226 million versus the two-analyst average estimate of $222 million.
- Net interest income: $533 million compared to the $530.09 million average estimate based on seven analysts.
- Total noninterest income: $291 million versus $282.24 million estimated by seven analysts on average.
- Service charges on deposit accounts: $46 million compared to the $46.07 million average estimate based on five analysts.
- Commercial lending fees: $17 million versus the five-analyst average estimate of $16.59 million.
View all Key Company Metrics for Comerica here>>>Shares of Comerica have returned +19.1% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.