Comerica’s Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Comerica (NYSE:CMA) will unveil its latest earnings on Tuesday, July 17, 2012. Comerica is a financial holding company that operates in business, retail, and wealth management.

Comerica Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 61 cents per share, a rise of 10.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 57 cents. Between one and three months ago, the average estimate moved up. It has dropped from 62 cents during the last month. Analysts are projecting profit to rise by 7.3% compared to last year’s $2.51.

Past Earnings Performance: Last quarter, the company beat estimates by 11 cents, coming in at profit of 66 cents a share versus the estimate of net income of 55 cents a share. It marked the fourth straight quarter of beating estimates.

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A Look Back: In the first quarter, profit rose 26.2% to $130 million (66 cents a share) from $103 million (57 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 6.7% to $684 million from $641 million.

Wall St. Revenue Expectations: Analysts predict a rise of 7.7% in revenue from the year-earlier quarter to $638.8 million.

Stock Price Performance: From June 12, 2012 to July 11, 2012, the stock price rose $1.05 (3.6%), from $29.27 to $30.32. The stock price saw one of its best stretches over the last year between December 30, 2011 and January 13, 2012, when shares rose for 10 straight days, increasing 14.1% (+$3.64) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine straight days, dropping 9.4% (-$3.19) over that span.

Key Stats:

On the top line, the company is looking to build on three-straight revenue increases heading into this earnings announcement. Revenue increased 3.4% in the third quarter of the last fiscal year and 0.5% in the fourth quarter of the last fiscal year before climbing again in the first quarter.

Analyst Ratings: There are mostly holds on the stock with 16 of 26 analysts surveyed giving that rating.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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