Comerica Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Comerica (NYSE:CMA) will unveil its latest earnings tomorrow, Wednesday, January 16, 2013.

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.

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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:


Analyst Ratings: There are mostly holds on the stock with 17 of 25 analysts surveyed giving that rating.

Wall St. Revenue Expectations: Analysts predict a decline of 0.9% in revenue from the year-earlier quarter to $620.3 million.

Key Stats:

After experiencing income increases the last three quarters, the company is hoping to keep the good news coming with this earnings announcement. Net income rose 26.2% in the first quarter and 50% in the second quarter before increasing again in the third quarter.

On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 0.5% in the fourth quarter of the last fiscal year, 6.7% in the first quarter and 7.6%in the second quarter before dropping in the third quarter.

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