Comerica Incorporated (CMA) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Comerica Incorporated (CMA) closed at $39.19, marking a -1.21% move from the previous day. This change lagged the S&P 500's 0.88% gain on the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 3.76%.
Prior to today's trading, shares of the company had lost 2.34% over the past month. This has was narrower than the Finance sector's loss of 2.93% and lagged the S&P 500's loss of 0.38% in that time.
Wall Street will be looking for positivity from Comerica Incorporated as it approaches its next earnings report date. The company is expected to report EPS of $1.96, up 2.08% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $910.12 million, up 9.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.23 per share and revenue of $3.74 billion, which would represent changes of -2.83% and +5.8%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Comerica Incorporated. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.58% higher. Comerica Incorporated is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Comerica Incorporated's current valuation metrics, including its Forward P/E ratio of 4.82. For comparison, its industry has an average Forward P/E of 7.3, which means Comerica Incorporated is trading at a discount to the group.
Investors should also note that CMA has a PEG ratio of 1.13 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CMA's industry had an average PEG ratio of 1.13 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Comerica Incorporated (CMA) : Free Stock Analysis Report
