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Comerica (CMA) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
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Wall Street analysts expect Comerica Incorporated (CMA - Free Report) to post quarterly earnings of $1.18 per share in its upcoming report, which indicates a year-over-year decline of 35.9%. Revenues are expected to be $812.26 million, down 9.4% from the year-ago quarter.
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.
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.
Given this perspective, it's time to examine the average forecasts of specific Comerica metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Efficiency Ratio' to come in at 70.5%. Compared to the current estimate, the company reported 61.9% in the same quarter of the previous year.
The consensus estimate for 'Average Balance - Total earning assets' stands at $72.06 billion. The estimate is in contrast to the year-ago figure of $81 billion.
According to the collective judgment of analysts, 'Total nonperforming assets' should come in at $228.00 million. Compared to the current estimate, the company reported $154 million in the same quarter of the previous year.
Analysts' assessment points toward 'Total nonperforming loans' reaching $228.50 million. Compared to the current estimate, the company reported $154 million in the same quarter of the previous year.
Analysts predict that the 'Net interest income' will reach $528.62 million. The estimate compares to the year-ago value of $601 million.
It is projected by analysts that the 'Total noninterest income' will reach $282.85 million. The estimate compares to the year-ago value of $295 million.
The collective assessment of analysts points to an estimated 'Service charges on deposit accounts' of $46.65 million. The estimate compares to the year-ago value of $47 million.
The consensus among analysts is that 'Commercial lending fees' will reach $17.67 million. The estimate compares to the year-ago value of $19 million.
The combined assessment of analysts suggests that 'Fiduciary income' will likely reach $58.81 million. Compared to the current estimate, the company reported $59 million in the same quarter of the previous year.
Analysts forecast 'Letter of credit fees' to reach $10.84 million. The estimate is in contrast to the year-ago figure of $10 million.
The average prediction of analysts places 'Capital markets income' at $34.87 million. Compared to the present estimate, the company reported $35 million in the same quarter last year.
Based on the collective assessment of analysts, 'Card fees' should arrive at $65.38 million. Compared to the current estimate, the company reported $71 million in the same quarter of the previous year.
Over the past month, Comerica shares have recorded returns of +5.8% versus the Zacks S&P 500 composite's +4.3% change. Based on its Zacks Rank #3 (Hold), CMA will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Comerica (CMA) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Wall Street analysts expect Comerica Incorporated (CMA - Free Report) to post quarterly earnings of $1.18 per share in its upcoming report, which indicates a year-over-year decline of 35.9%. Revenues are expected to be $812.26 million, down 9.4% from the year-ago quarter.
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.
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.
Given this perspective, it's time to examine the average forecasts of specific Comerica metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Efficiency Ratio' to come in at 70.5%. Compared to the current estimate, the company reported 61.9% in the same quarter of the previous year.
The consensus estimate for 'Average Balance - Total earning assets' stands at $72.06 billion. The estimate is in contrast to the year-ago figure of $81 billion.
According to the collective judgment of analysts, 'Total nonperforming assets' should come in at $228.00 million. Compared to the current estimate, the company reported $154 million in the same quarter of the previous year.
Analysts' assessment points toward 'Total nonperforming loans' reaching $228.50 million. Compared to the current estimate, the company reported $154 million in the same quarter of the previous year.
Analysts predict that the 'Net interest income' will reach $528.62 million. The estimate compares to the year-ago value of $601 million.
It is projected by analysts that the 'Total noninterest income' will reach $282.85 million. The estimate compares to the year-ago value of $295 million.
The collective assessment of analysts points to an estimated 'Service charges on deposit accounts' of $46.65 million. The estimate compares to the year-ago value of $47 million.
The consensus among analysts is that 'Commercial lending fees' will reach $17.67 million. The estimate compares to the year-ago value of $19 million.
The combined assessment of analysts suggests that 'Fiduciary income' will likely reach $58.81 million. Compared to the current estimate, the company reported $59 million in the same quarter of the previous year.
Analysts forecast 'Letter of credit fees' to reach $10.84 million. The estimate is in contrast to the year-ago figure of $10 million.
The average prediction of analysts places 'Capital markets income' at $34.87 million. Compared to the present estimate, the company reported $35 million in the same quarter last year.
Based on the collective assessment of analysts, 'Card fees' should arrive at $65.38 million. Compared to the current estimate, the company reported $71 million in the same quarter of the previous year.
View all Key Company Metrics for Comerica here>>>
Over the past month, Comerica shares have recorded returns of +5.8% versus the Zacks S&P 500 composite's +4.3% change. Based on its Zacks Rank #3 (Hold), CMA will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>