We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Comerica (CMA) Reports Q1 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
Comerica Incorporated (CMA - Free Report) reported $784 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 20.8%. EPS of $1.29 for the same period compares to $2.39 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $807.57 million, representing a surprise of -2.92%. The company delivered an EPS surprise of +14.16%, with the consensus EPS estimate being $1.13.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Comerica 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 2.8%.
Average Balance - Total earning assets: $75.81 billion versus $74.97 billion estimated by seven analysts on average.
Efficiency Ratio: 76.9% versus 72% estimated by seven analysts on average.
Net charge-offs (recoveries)/Average total loans: 0.1% versus 0.2% estimated by six analysts on average.
Total nonperforming assets: $217 million versus the three-analyst average estimate of $180.33 million.
Tier 1 capital ratio: 12% versus the two-analyst average estimate of 11.1%.
Total capital ratio: 14% versus the two-analyst average estimate of 13.3%.
Total nonperforming loans: $217 million versus the two-analyst average estimate of $181.50 million.
Net interest income: $548 million versus the seven-analyst average estimate of $533.50 million.
Total noninterest income: $236 million compared to the $276.32 million average estimate based on seven analysts.
Service charges on deposit accounts: $45 million compared to the $44.30 million average estimate based on five analysts.
Commercial lending fees: $16 million compared to the $16.40 million average estimate based on five analysts.
Shares of Comerica have returned -3.8% over the past month versus the Zacks S&P 500 composite's -1.7% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Comerica (CMA) Reports Q1 Earnings: What Key Metrics Have to Say
Comerica Incorporated (CMA - Free Report) reported $784 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 20.8%. EPS of $1.29 for the same period compares to $2.39 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $807.57 million, representing a surprise of -2.92%. The company delivered an EPS surprise of +14.16%, with the consensus EPS estimate being $1.13.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Comerica 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 2.8%.
- Average Balance - Total earning assets: $75.81 billion versus $74.97 billion estimated by seven analysts on average.
- Efficiency Ratio: 76.9% versus 72% estimated by seven analysts on average.
- Net charge-offs (recoveries)/Average total loans: 0.1% versus 0.2% estimated by six analysts on average.
- Total nonperforming assets: $217 million versus the three-analyst average estimate of $180.33 million.
- Tier 1 capital ratio: 12% versus the two-analyst average estimate of 11.1%.
- Total capital ratio: 14% versus the two-analyst average estimate of 13.3%.
- Total nonperforming loans: $217 million versus the two-analyst average estimate of $181.50 million.
- Net interest income: $548 million versus the seven-analyst average estimate of $533.50 million.
- Total noninterest income: $236 million compared to the $276.32 million average estimate based on seven analysts.
- Service charges on deposit accounts: $45 million compared to the $44.30 million average estimate based on five analysts.
- Commercial lending fees: $16 million compared to the $16.40 million average estimate based on five analysts.
View all Key Company Metrics for Comerica here>>>Shares of Comerica have returned -3.8% over the past month versus the Zacks S&P 500 composite's -1.7% 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.