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Comerica Incorporated (CMA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Comerica Incorporated (CMA - Free Report) closed at $75.71, marking a -0.95% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the company had lost 4.44% over the past month. This has lagged the Finance sector's loss of 2.26% and the S&P 500's loss of 3.29% in that time.
Comerica Incorporated will be looking to display strength as it nears its next earnings release, which is expected to be October 19, 2022. In that report, analysts expect Comerica Incorporated to post earnings of $2.52 per share. This would mark year-over-year growth of 32.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $948.08 million, up 25.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.48 per share and revenue of $3.48 billion, which would represent changes of +1.56% and +17.32%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.57% higher within the past month. Comerica Incorporated is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Comerica Incorporated currently has a Forward P/E ratio of 9.01. For comparison, its industry has an average Forward P/E of 9.8, which means Comerica Incorporated is trading at a discount to the group.
Meanwhile, CMA's PEG ratio is currently 1.21. 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. CMA's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Comerica Incorporated (CMA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Comerica Incorporated (CMA - Free Report) closed at $75.71, marking a -0.95% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the company had lost 4.44% over the past month. This has lagged the Finance sector's loss of 2.26% and the S&P 500's loss of 3.29% in that time.
Comerica Incorporated will be looking to display strength as it nears its next earnings release, which is expected to be October 19, 2022. In that report, analysts expect Comerica Incorporated to post earnings of $2.52 per share. This would mark year-over-year growth of 32.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $948.08 million, up 25.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.48 per share and revenue of $3.48 billion, which would represent changes of +1.56% and +17.32%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.57% higher within the past month. Comerica Incorporated is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Comerica Incorporated currently has a Forward P/E ratio of 9.01. For comparison, its industry has an average Forward P/E of 9.8, which means Comerica Incorporated is trading at a discount to the group.
Meanwhile, CMA's PEG ratio is currently 1.21. 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. CMA's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.