Comerica, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Comerica, Inc. (NYSE:CMA) will unveil its latest earnings on Wednesday, October 19, 2011. 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 51 cents per share, a rise of 54.5% 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 49 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 51 cents during the last month. Analysts are projecting profit to rise by 169.6% versus last year to $2.13.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 55 cents per share versus a mean estimate of profit of 53 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 6.6% in revenue from the year-earlier quarter to $629.1 million.

Analyst Ratings: Analysts are bullish on Comerica as 11 analysts rate it as a buy, two rate it as a sell and 12 rate it as a hold.

A Look Back: In the second quarter, profit rose 41.2% to $96 million (53 cents a share) from $68 million (39 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 5.5% to $633 million from $670 million.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 4.3% in the first quarter from the year earlier, dropped 4.8% in fourth quarter of the last fiscal year from the year-ago quarter and 22.3% in the third 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 July 20, 2011 to October 13, 2011, the stock price had fallen $7.19 (-22%) from $32.75 to $25.56. The stock price saw one of its best stretches over the last year between October 28, 2010 and November 8, 2010 when shares rose for eight-straight days, rising 8.7% (+$3.08) 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, falling 9.4% (-$3.18) over that span. Shares are down $16.26 (-38.9%) year to date.

(Source: Xignite Financials)

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