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Comerica Incorporated (CMA) Outpaces Stock Market Gains: What You Should Know

·3 min read

In the latest trading session, Comerica Incorporated (CMA) closed at $79.35, marking a +1.01% move from the previous day. This change outpaced the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.18%.

Prior to today's trading, shares of the company had lost 7.55% over the past month. This has was narrower than the Finance sector's loss of 8.14% and the S&P 500's loss of 9.94% in that time.

Investors will be hoping for strength from Comerica Incorporated as it approaches its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $2.52, up 32.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $948.11 million, up 25.58% from the year-ago period.

CMA's full-year Zacks Consensus Estimates are calling for earnings of $8.47 per share and revenue of $3.47 billion. These results would represent year-over-year changes of +1.44% and +16.96%, respectively.

Investors should also note any recent changes to analyst estimates for Comerica Incorporated. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.71% higher. Comerica Incorporated is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Comerica Incorporated currently has a Forward P/E ratio of 9.28. For comparison, its industry has an average Forward P/E of 10.31, which means Comerica Incorporated is trading at a discount to the group.

Also, we should mention that CMA has a PEG ratio of 1.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.25 based on yesterday's closing prices.

The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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