Comerica Inc. Second Quarter Earnings Preview

S&P 500 (NYSE:SPY) component Comerica Inc. (NYSE:CMA) will unveil its latest earnings on Tuesday, July 19, 2011. Comerica Incorporated 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 net income of 53 cents per share, a rise of 35.9% 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 50 cents. For the year, analysts are projecting profit of $2.12 per share, a rise of more than twofold from last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported net income of 57 cents per share against a mean estimate of profit of 48 cents, and the quarter before, the company exceeded forecasts by 22 cents with net income of 53 cents versus a mean estimate of profit of 31 cents.

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Wall St. Revenue Expectations: On average, analysts predict $594.1 million in revenue this quarter, a decline of 3.6% from the year ago quarter. Analysts are forecasting total revenue of $2.46 billion for the year, a rise of 0.8% from last year’s revenue of $2.44 billion.

Analyst Ratings: Analysts are bullish on Comerica as 12 analysts rate it as a buy, two rate it as a sell and 12 rate it as a hold.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 4.3% to $641 million in first quarter. The figure fell 4.8% in the fourth quarter of the last fiscal year from the year earlier, dropped 22.3% in third quarter of the last fiscal year from the year-ago quarter and 21.2% in the second quarter of the last fiscal year.

Competitors to Watch: U.S. Bancorp (NYSE:USB), Citigroup (NYSE:C), Dearborn Bancorp, Inc. (NASDAQ:DEAR), Wells Fargo & Company (NYSE:WFC), Bank of America Corp. (NYSE:BAC), Regions Financial Corp. (NYSE:RF), JPMorgan Chase & Co. (NYSE:JPM), Citizens Republic Bancorp, Inc. (NASDAQ:CRBC), and Old National Bancorp (NYSE:ONB).

Stock Price Performance: During April 15, 2011 to July 13, 2011, the stock price had fallen $4.73 (-12.5%) from $37.83 to $33.10. Shares have been on a negative streak of late, closing down every day between July 12, 2011 and July 13, 2011. The stock price saw one of its best stretches over the last year between April 12, 2011, and April 21, 2011, when shares rose for eight-straight days, rising 5.9% (+$2.13) over that span. Shares are down $8.91 (-21.2%) year to date.

(Source: Xignite Financials)

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