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Compared to Estimates, Comerica Incorporated (CMA) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Comerica Incorporated (CMA - Free Report) reported revenue of $924 million, up 11.5% over the same period last year. EPS came in at $2.01, compared to $1.92 in the year-ago quarter.
The reported revenue represents a surprise of +2.12% over the Zacks Consensus Estimate of $904.8 million. With the consensus EPS estimate being $1.89, the EPS surprise was +6.35%.
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 Incorporated performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 2.93% compared to the 3.03% average estimate based on seven analysts.
Efficiency Ratio: 57.7% versus 58.99% estimated by seven analysts on average.
Total earning assets-Average balance: $82.31 billion versus the six-analyst average estimate of $80.93 billion.
Net credit-related (recoveries) charge-offs/Average total loans: -0.01% compared to the 0.11% average estimate based on six analysts.
Total nonperforming assets: $186 million versus the three-analyst average estimate of $225.33 million.
Tier 1 capital ratio: 10.8% versus the two-analyst average estimate of 10.75%.
Total capital ratio: 12.79% versus 12.68% estimated by two analysts on average.
Total nonperforming loans: $186 million versus the two-analyst average estimate of $225.50 million.
Total noninterest income: $303 million compared to the $287.13 million average estimate based on seven analysts.
Net interest income: $621 million versus the seven-analyst average estimate of $617.59 million.
Service charges on deposit accounts: $47 million versus the five-analyst average estimate of $46.09 million.
Commercial lending fees: $18 million compared to the $19.21 million average estimate based on five analysts.
Shares of Comerica Incorporated have returned +29.6% over the past month versus the Zacks S&P 500 composite's +3.4% 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 Incorporated (CMA) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Comerica Incorporated (CMA - Free Report) reported revenue of $924 million, up 11.5% over the same period last year. EPS came in at $2.01, compared to $1.92 in the year-ago quarter.
The reported revenue represents a surprise of +2.12% over the Zacks Consensus Estimate of $904.8 million. With the consensus EPS estimate being $1.89, the EPS surprise was +6.35%.
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 Incorporated performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.93% compared to the 3.03% average estimate based on seven analysts.
- Efficiency Ratio: 57.7% versus 58.99% estimated by seven analysts on average.
- Total earning assets-Average balance: $82.31 billion versus the six-analyst average estimate of $80.93 billion.
- Net credit-related (recoveries) charge-offs/Average total loans: -0.01% compared to the 0.11% average estimate based on six analysts.
- Total nonperforming assets: $186 million versus the three-analyst average estimate of $225.33 million.
- Tier 1 capital ratio: 10.8% versus the two-analyst average estimate of 10.75%.
- Total capital ratio: 12.79% versus 12.68% estimated by two analysts on average.
- Total nonperforming loans: $186 million versus the two-analyst average estimate of $225.50 million.
- Total noninterest income: $303 million compared to the $287.13 million average estimate based on seven analysts.
- Net interest income: $621 million versus the seven-analyst average estimate of $617.59 million.
- Service charges on deposit accounts: $47 million versus the five-analyst average estimate of $46.09 million.
- Commercial lending fees: $18 million compared to the $19.21 million average estimate based on five analysts.
View all Key Company Metrics for Comerica Incorporated here>>>Shares of Comerica Incorporated have returned +29.6% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.