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Comerica Incorporated (CMA) Gains But Lags Market: What You Should Know
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Comerica Incorporated (CMA - Free Report) closed at $85.25 in the latest trading session, marking a +0.8% move from the prior day. This move lagged the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.18%.
Coming into today, shares of the company had lost 1.27% in the past month. In that same time, the Finance sector lost 0.38%, while the S&P 500 lost 1.14%.
Wall Street will be looking for positivity from Comerica Incorporated as it approaches its next earnings report date. This is expected to be October 19, 2022. In that report, analysts expect Comerica Incorporated to post earnings of $2.50 per share. This would mark year-over-year growth of 31.58%. Meanwhile, our latest consensus estimate is calling for revenue of $944.78 million, up 25.14% from the prior-year quarter.
CMA's full-year Zacks Consensus Estimates are calling for earnings of $8.43 per share and revenue of $3.46 billion. These results would represent year-over-year changes of +0.96% and +16.72%, respectively.
Any recent changes to analyst estimates for Comerica Incorporated should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Comerica Incorporated currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Comerica Incorporated is currently trading at a Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 10.47.
Investors should also note that CMA has a PEG ratio of 1.35 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Comerica Incorporated (CMA) Gains But Lags Market: What You Should Know
Comerica Incorporated (CMA - Free Report) closed at $85.25 in the latest trading session, marking a +0.8% move from the prior day. This move lagged the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.18%.
Coming into today, shares of the company had lost 1.27% in the past month. In that same time, the Finance sector lost 0.38%, while the S&P 500 lost 1.14%.
Wall Street will be looking for positivity from Comerica Incorporated as it approaches its next earnings report date. This is expected to be October 19, 2022. In that report, analysts expect Comerica Incorporated to post earnings of $2.50 per share. This would mark year-over-year growth of 31.58%. Meanwhile, our latest consensus estimate is calling for revenue of $944.78 million, up 25.14% from the prior-year quarter.
CMA's full-year Zacks Consensus Estimates are calling for earnings of $8.43 per share and revenue of $3.46 billion. These results would represent year-over-year changes of +0.96% and +16.72%, respectively.
Any recent changes to analyst estimates for Comerica Incorporated should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Comerica Incorporated currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Comerica Incorporated is currently trading at a Forward P/E ratio of 10.03. This represents a discount compared to its industry's average Forward P/E of 10.47.
Investors should also note that CMA has a PEG ratio of 1.35 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.35 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.