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The upcoming report from Comerica Incorporated (CMA) is expected to reveal quarterly earnings of $1.14 per share, indicating a decline of 11.6% compared to the year-ago period. Analysts forecast revenues of $829.64 million, representing an increase of 5.8% year over year.
The consensus EPS estimate for the quarter has been revised 1.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Comerica metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Efficiency Ratio' to reach 71.9%. The estimate is in contrast to the year-ago figure of 76.9%.
The average prediction of analysts places 'Average Balance - Total earning assets' at $71.18 billion. The estimate is in contrast to the year-ago figure of $75.81 billion.
The combined assessment of analysts suggests that 'Total nonperforming assets' will likely reach $314.05 million. Compared to the current estimate, the company reported $217 million in the same quarter of the previous year.
Analysts' assessment points toward 'Total nonperforming loans' reaching $317.08 million. The estimate is in contrast to the year-ago figure of $217 million.
Based on the collective assessment of analysts, 'Total noninterest income' should arrive at $266.25 million. The estimate is in contrast to the year-ago figure of $236 million.
The consensus among analysts is that 'Net interest income' will reach $566.88 million. Compared to the present estimate, the company reported $548 million in the same quarter last year.
Analysts expect 'Service charges on deposit accounts' to come in at $46.05 million. Compared to the present estimate, the company reported $45 million in the same quarter last year.