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Here's What Key Metrics Tell Us About Comerica Incorporated (CMA) Q4 Earnings
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For the quarter ended December 2023, Comerica Incorporated (CMA - Free Report) reported revenue of $782 million, down 23.3% over the same period last year. EPS came in at $1.46, compared to $2.58 in the year-ago quarter.
The reported revenue represents a surprise of -5.34% over the Zacks Consensus Estimate of $826.07 million. With the consensus EPS estimate being $1.38, the EPS surprise was +5.80%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 2.9% versus the seven-analyst average estimate of 2.9%.
Efficiency Ratio: 91.9% versus the seven-analyst average estimate of 70.5%.
Average Balance - Total earning assets: $76.17 billion versus $77.89 billion estimated by six analysts on average.
Net charge-offs (recoveries)/Average total loans: 0.2% versus the five-analyst average estimate of 0.1%.
Total nonperforming assets: $178 million versus $156.67 million estimated by three analysts on average.
Tier 1 capital ratio: 11.6% compared to the 11.4% average estimate based on two analysts.
Total capital ratio: 13.5% compared to the 14.2% average estimate based on two analysts.
Total nonperforming loans: $178 million compared to the $157 million average estimate based on two analysts.
Net interest income: $584 million versus the seven-analyst average estimate of $567.84 million.
Total noninterest income: $198 million versus $271.01 million estimated by seven analysts on average.
Service charges on deposit accounts: $45 million versus the five-analyst average estimate of $46.82 million.
Commercial lending fees: $17 million compared to the $19.05 million average estimate based on five analysts.
Shares of Comerica Incorporated have returned -5.1% over the past month versus the Zacks S&P 500 composite's +0.9% 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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Here's What Key Metrics Tell Us About Comerica Incorporated (CMA) Q4 Earnings
For the quarter ended December 2023, Comerica Incorporated (CMA - Free Report) reported revenue of $782 million, down 23.3% over the same period last year. EPS came in at $1.46, compared to $2.58 in the year-ago quarter.
The reported revenue represents a surprise of -5.34% over the Zacks Consensus Estimate of $826.07 million. With the consensus EPS estimate being $1.38, the EPS surprise was +5.80%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 2.9% versus the seven-analyst average estimate of 2.9%.
- Efficiency Ratio: 91.9% versus the seven-analyst average estimate of 70.5%.
- Average Balance - Total earning assets: $76.17 billion versus $77.89 billion estimated by six analysts on average.
- Net charge-offs (recoveries)/Average total loans: 0.2% versus the five-analyst average estimate of 0.1%.
- Total nonperforming assets: $178 million versus $156.67 million estimated by three analysts on average.
- Tier 1 capital ratio: 11.6% compared to the 11.4% average estimate based on two analysts.
- Total capital ratio: 13.5% compared to the 14.2% average estimate based on two analysts.
- Total nonperforming loans: $178 million compared to the $157 million average estimate based on two analysts.
- Net interest income: $584 million versus the seven-analyst average estimate of $567.84 million.
- Total noninterest income: $198 million versus $271.01 million estimated by seven analysts on average.
- Service charges on deposit accounts: $45 million versus the five-analyst average estimate of $46.82 million.
- Commercial lending fees: $17 million compared to the $19.05 million average estimate based on five analysts.
View all Key Company Metrics for Comerica Incorporated here>>>Shares of Comerica Incorporated have returned -5.1% over the past month versus the Zacks S&P 500 composite's +0.9% 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.