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Comerica Incorporated (CMA) Gains As Market Dips: What You Should Know
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Comerica Incorporated (CMA - Free Report) closed the most recent trading day at $41.35, moving +1.85% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 3.58%.
Coming into today, shares of the company had gained 4.13% in the past month. In that same time, the Finance sector gained 1.96%, while the S&P 500 gained 5.01%.
Comerica Incorporated will be looking to display strength as it nears its next earnings release, which is expected to be July 21, 2023. The company is expected to report EPS of $1.94, up 1.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $907.83 million, up 9.51% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.13 per share and revenue of $3.72 billion. These totals would mark changes of -4.01% and +5.17%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Comerica Incorporated. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.18% lower. Comerica Incorporated currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Comerica Incorporated is holding a Forward P/E ratio of 4.99. For comparison, its industry has an average Forward P/E of 7.61, which means Comerica Incorporated is trading at a discount to the group.
It is also worth noting that CMA currently has a PEG ratio of 1.17. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.16 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 238, which puts it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Comerica Incorporated (CMA) Gains As Market Dips: What You Should Know
Comerica Incorporated (CMA - Free Report) closed the most recent trading day at $41.35, moving +1.85% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 3.58%.
Coming into today, shares of the company had gained 4.13% in the past month. In that same time, the Finance sector gained 1.96%, while the S&P 500 gained 5.01%.
Comerica Incorporated will be looking to display strength as it nears its next earnings release, which is expected to be July 21, 2023. The company is expected to report EPS of $1.94, up 1.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $907.83 million, up 9.51% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.13 per share and revenue of $3.72 billion. These totals would mark changes of -4.01% and +5.17%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Comerica Incorporated. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 1.18% lower. Comerica Incorporated currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Comerica Incorporated is holding a Forward P/E ratio of 4.99. For comparison, its industry has an average Forward P/E of 7.61, which means Comerica Incorporated is trading at a discount to the group.
It is also worth noting that CMA currently has a PEG ratio of 1.17. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.16 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 238, which puts it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.