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Comerica Incorporated (CMA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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Comerica Incorporated (CMA - Free Report) reported $896 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 9%. EPS of $1.84 for the same period compares to $2.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $880.88 million, representing a surprise of +1.72%. The company delivered an EPS surprise of +8.24%, with the consensus EPS estimate being $1.70.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 2.8% versus the seven-analyst average estimate of 2.9%.
Efficiency Ratio: 61.9% compared to the 62% average estimate based on seven analysts.
Total earning assets-Average balance: $80.24 billion compared to the $80.63 billion average estimate based on six analysts.
Net credit-related (recoveries) charge-offs/Average total loans: 0.1% versus 0.1% estimated by six analysts on average.
Total nonperforming assets: $154 million compared to the $190.67 million average estimate based on three analysts.
Tier 1 capital ratio: 11.3% versus the two-analyst average estimate of 11.3%.
Total capital ratio: 13.2% versus 13.3% estimated by two analysts on average.
Total nonperforming loans: $154 million compared to the $193 million average estimate based on two analysts.
Net interest income: $601 million compared to the $594.53 million average estimate based on seven analysts.
Total noninterest income: $295 million compared to the $287.44 million average estimate based on seven analysts.
Service charges on deposit accounts: $47 million versus the five-analyst average estimate of $46.64 million.
Commercial lending fees: $19 million versus $18.85 million estimated by five analysts on average.
Shares of Comerica Incorporated have returned +0.7% over the past month versus the Zacks S&P 500 composite's -3.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Comerica Incorporated (CMA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Comerica Incorporated (CMA - Free Report) reported $896 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 9%. EPS of $1.84 for the same period compares to $2.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $880.88 million, representing a surprise of +1.72%. The company delivered an EPS surprise of +8.24%, with the consensus EPS estimate being $1.70.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 2.8% versus the seven-analyst average estimate of 2.9%.
- Efficiency Ratio: 61.9% compared to the 62% average estimate based on seven analysts.
- Total earning assets-Average balance: $80.24 billion compared to the $80.63 billion average estimate based on six analysts.
- Net credit-related (recoveries) charge-offs/Average total loans: 0.1% versus 0.1% estimated by six analysts on average.
- Total nonperforming assets: $154 million compared to the $190.67 million average estimate based on three analysts.
- Tier 1 capital ratio: 11.3% versus the two-analyst average estimate of 11.3%.
- Total capital ratio: 13.2% versus 13.3% estimated by two analysts on average.
- Total nonperforming loans: $154 million compared to the $193 million average estimate based on two analysts.
- Net interest income: $601 million compared to the $594.53 million average estimate based on seven analysts.
- Total noninterest income: $295 million compared to the $287.44 million average estimate based on seven analysts.
- Service charges on deposit accounts: $47 million versus the five-analyst average estimate of $46.64 million.
- Commercial lending fees: $19 million versus $18.85 million estimated by five analysts on average.
View all Key Company Metrics for Comerica Incorporated here>>>Shares of Comerica Incorporated have returned +0.7% over the past month versus the Zacks S&P 500 composite's -3.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.