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Here's What Key Metrics Tell Us About Comerica (CMA) Q3 Earnings
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Comerica Incorporated (CMA - Free Report) reported $811 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 9.5%. EPS of $1.37 for the same period compares to $1.84 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $806.49 million, representing a surprise of +0.56%. The company delivered an EPS surprise of +16.10%, with the consensus EPS estimate being $1.18.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Comerica performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 68.8% versus 70.7% estimated by six analysts on average.
Net interest margin: 2.8% compared to the 2.9% average estimate based on six analysts.
Net charge-offs (recoveries)/Average total loans: 0.1% versus 0.2% estimated by six analysts on average.
Average Balance - Total earning assets: $73.58 billion versus $72.27 billion estimated by six analysts on average.
Total nonperforming assets: $250 million versus $232.51 million estimated by three analysts on average.
Total nonperforming loans: $250 million compared to the $235.26 million average estimate based on two analysts.
Net interest income: $534 million compared to the $527.05 million average estimate based on six analysts.
Total noninterest income: $277 million versus $280.62 million estimated by six analysts on average.
Service charges on deposit accounts: $46 million compared to the $46.37 million average estimate based on four analysts.
Commercial lending fees: $17 million versus the four-analyst average estimate of $17.58 million.
Fiduciary income: $57 million versus the three-analyst average estimate of $58.36 million.
Letter of credit fees: $10 million versus $10.50 million estimated by three analysts on average.
Shares of Comerica have returned +2.5% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Comerica (CMA) Q3 Earnings
Comerica Incorporated (CMA - Free Report) reported $811 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 9.5%. EPS of $1.37 for the same period compares to $1.84 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $806.49 million, representing a surprise of +0.56%. The company delivered an EPS surprise of +16.10%, with the consensus EPS estimate being $1.18.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Comerica performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 68.8% versus 70.7% estimated by six analysts on average.
- Net interest margin: 2.8% compared to the 2.9% average estimate based on six analysts.
- Net charge-offs (recoveries)/Average total loans: 0.1% versus 0.2% estimated by six analysts on average.
- Average Balance - Total earning assets: $73.58 billion versus $72.27 billion estimated by six analysts on average.
- Total nonperforming assets: $250 million versus $232.51 million estimated by three analysts on average.
- Total nonperforming loans: $250 million compared to the $235.26 million average estimate based on two analysts.
- Net interest income: $534 million compared to the $527.05 million average estimate based on six analysts.
- Total noninterest income: $277 million versus $280.62 million estimated by six analysts on average.
- Service charges on deposit accounts: $46 million compared to the $46.37 million average estimate based on four analysts.
- Commercial lending fees: $17 million versus the four-analyst average estimate of $17.58 million.
- Fiduciary income: $57 million versus the three-analyst average estimate of $58.36 million.
- Letter of credit fees: $10 million versus $10.50 million estimated by three analysts on average.
View all Key Company Metrics for Comerica here>>>Shares of Comerica have returned +2.5% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.