Comerica Inc. First Quarter Earnings Sneak Peek

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

Comerica, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 55 cents per share, a decline of 3.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 47 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 55 cents during the last month. For the year, analysts are projecting net income of $2.32 per share, a decline of 0.9% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 14 cents, coming in at profit of 60 cents a share versus the estimate of net income of 46 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts predict a rise of 4% in revenue from the year-earlier quarter to $625.9 million.

Analyst Ratings: Analysts seem relatively indifferent about Comerica with 14 of 26 analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit remained level at $96 million (48 cents a share) from the year earlier, beating analyst estimates. Revenue rose 0.5% to $663 million from $660 million.

Key Stats:

On the top line, the company is looking to build on two-straight revenue increases with this earnings announcement. Revenue rose 3.4% in the third quarter of the last fiscal year before climbing again in the fourth quarter of the last fiscal year of the last fiscal year.

The company enters this earnings announcement with steady profits recently. Net income has risen year-over-year average of 51.3% for the last four quarters.

Stock Price Performance: Between January 13, 2012 and April 11, 2012, the stock price rose $1.32 (4.5%), from $29.34 to $30.66. 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% (+$3.62) 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% (-$3.15) over that span.

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

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