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Comerica Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 64 cents per share, a rise of 6.7% from the company’s actual earnings for the year-ago quarter. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 13.2% compared to last year’s $2.65.
Past Earnings Performance: Last quarter, the company beat estimates by 4 cents, coming in at net income of 69 cents a share versus the estimate of profit of 65 cents a share. It marked the fourth straight quarter of beating estimates.
A Look Back: In the third quarter, profit rose 19.4% to $117 million (61 cents a share) from $98 million (51 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 1.1% to $657 million from $664 million.
Here’s how Comerica traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:
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