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Comerica Incorporated (CMA) Dips More Than Broader Markets: What You Should Know
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Comerica Incorporated (CMA - Free Report) closed at $73.04 in the latest trading session, marking a -1.71% move from the prior day. This move lagged the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the company had lost 9.18% over the past month, lagging the Finance sector's loss of 8.75% and outpacing the S&P 500's loss of 10.4% in that time.
Investors will be hoping for strength from Comerica Incorporated as it approaches its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $2.52, up 32.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $948.11 million, up 25.58% from the prior-year quarter.
CMA's full-year Zacks Consensus Estimates are calling for earnings of $8.47 per share and revenue of $3.47 billion. These results would represent year-over-year changes of +1.44% and +16.96%, respectively.
Investors might also notice recent changes to analyst estimates for Comerica Incorporated. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% higher. Comerica Incorporated currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Comerica Incorporated is holding a Forward P/E ratio of 8.77. For comparison, its industry has an average Forward P/E of 9.52, which means Comerica Incorporated is trading at a discount to the group.
Also, we should mention that CMA has a PEG ratio of 1.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.18 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Comerica Incorporated (CMA) Dips More Than Broader Markets: What You Should Know
Comerica Incorporated (CMA - Free Report) closed at $73.04 in the latest trading session, marking a -1.71% move from the prior day. This move lagged the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the company had lost 9.18% over the past month, lagging the Finance sector's loss of 8.75% and outpacing the S&P 500's loss of 10.4% in that time.
Investors will be hoping for strength from Comerica Incorporated as it approaches its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $2.52, up 32.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $948.11 million, up 25.58% from the prior-year quarter.
CMA's full-year Zacks Consensus Estimates are calling for earnings of $8.47 per share and revenue of $3.47 billion. These results would represent year-over-year changes of +1.44% and +16.96%, respectively.
Investors might also notice recent changes to analyst estimates for Comerica Incorporated. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.71% higher. Comerica Incorporated currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Comerica Incorporated is holding a Forward P/E ratio of 8.77. For comparison, its industry has an average Forward P/E of 9.52, which means Comerica Incorporated is trading at a discount to the group.
Also, we should mention that CMA has a PEG ratio of 1.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.18 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.