Comerica Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Comerica (NYSE:CMA) will unveil its latest earnings on Wednesday, October 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 estimate of analysts is for profit of 65 cents per share, a rise of 4.8% 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 62 cents. Between one and three months ago, the average estimate moved up. It has risen from 64 cents during the last month. For the year, analysts are projecting net income of $2.68 per share, a rise of 14.5% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 14 cents, coming in at profit of 76 cents a share versus the estimate of net income of 62 cents a share. It marked the fourth straight quarter of beating estimates.

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A Look Back: In the second quarter, profit rose 50% to $144 million (73 cents a share) from $96 million (53 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 7.6% to $681 million from $633 million.

Stock Price Performance: Between September 13, 2012 and October 11, 2012, the stock price dropped $1.53 (-4.6%), from $33.10 to $31.57. 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 September 13, 2012 and September 21, 2012 when shares fell for seven straight days, dropping 5.5% (-$1.83) over that span.

Analyst Ratings: There are mostly holds on the stock with 15 of 26 analysts surveyed giving that rating.

Key Stats:

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 3.4% in the third quarter of the last fiscal year, 0.5% in the fourth quarter of the last fiscal year and 6.7% in the first quarter before increasing again in the second quarter.

There has enjoyed solid performance recently heading into this earnings announcement with profit rising by a year-over-year average of 35.6% for the last four quarters.

Wall St. Revenue Expectations: Analysts are projecting a rise of 1.6% in revenue from the year-earlier quarter to $634 million.

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

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