For its second fiscal quarter (ending June 30), Comerica Incorporated (NYSE: CMA) has reported a -26% decline in E.P.S. from $2.02 a year ago to $1.50 in the current quarter. However, this result exceeded the consensus estimate of $1.20 by $0.30. For the latest four quarters through June 30, E.P.S. were $4.54 versus $9.67 for the same period a year ago — a decline of -53%.
Recent Price Action
Comerica Incorporated (NYSE: CMA) stock suffered a major decline of -10.5% on 7/19/24. The shares closed at $50.42. Moreover, this decline was accompanied by exceptionally high trading volume at 315% of normal. The stock has performed in line with the market over the last nine months and has declined -9.6% during the last week.
Current PriceTarget Research Rating
CMA is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Comerica has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Comerica has a very high Appreciation Score of 91 but a neutral Power Rating of 49, and the Positive Value Trend Rating results.
Rating Review
In light of this new information and highly negative price change we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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