Quantcast

Comerica (CMA) Q1 Earnings Improve Y/Y, Interest Income Up


Shutterstock photo

Have you been eager to see how Comerica Incorporated CMA performed in Q1 in comparison with the market expectations? Let's quickly scan through the key facts from this Texas-based money center bank's earnings release this morning:

Earnings Improve Y/Y

Comerica came out with adjusted earnings per share of $2.08, up from the prior-year quarter adjusted figure of $1.54 on high interest income. Including certain non-recurring items, earnings came in at $2.11. The Zacks Consensus Estimate stands at $1.94.

How Was the Estimate Revision Trend?

You should note that the earnings estimate for Comerica depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.

However, Comerica has an impressive earnings surprise history. Further, the company delivered positive surprises in all the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 7.23% in the trailing four quarters.

Comerica Incorporated Price and EPS Surprise

Comerica Incorporated Price and EPS Surprise | Comerica Incorporated Quote

Revenue Came In Lower Than Expected   

Comerica posted revenues of $852 million, which missed the Zacks Consensus Estimate of $853.1 million. However, it compared favorably with the year-ago number of $793 million.

Key Stats to Note:

  • Total deposits: $54.1 billion in Q1, down 2.7% on a sequential basis.
  • Total loans: $50.3 billion in Q1, up slightly on a sequential basis.
  • Provisions decreased to a benefit of $13 million on fall in total criticized loans.
  • Comerica returned $530 million to shareholders through shares repurchase and dividends


What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Comerica. However, since the lates t earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Check back later for our full write up on this Comerica earnings report!

Will you retire a millionaire?

One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, "7 Things You Can Do Now to Retire a Multimillionaire."

Click to get it free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Comerica Incorporated (CMA): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: Investing , Earnings , Investing Ideas , Stocks
Referenced Symbols: CMA




More from Zacks.com

Subscribe






Zacks.com
Contributor:

Zacks.com

Equity Research












Research Brokers before you trade

Want to trade FX?