Comerica Down on High Volume – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/20011/Comerica+Down+on+High+Volume+-+Zacks+Tale+of+the+TapePosted on Friday, May 8th, 2009 | In Market Commentary, Stocks to Watch
Comerica Inc. (CMA) shares are currently down by less than 1% today amid high volume of 7.8 million, versus the daily average of 5.1 million.
The company incurred a loss of 16 cents per share in its first-quarter, missing estimates by 100%. During the quarter, net interest income decreased 19.3% year over year to $384 million, while net interest margin slipped to 2.53% from 3.22%.
Eighteen out of 23 analysts pulled back on expectations over the past month, widening the 2009 consensus to a loss of $1.11 from a loss of 31 cents.
Next year’s estimate has dropped to 15 cents per share from 66 cents in the same period, as 14 out of 18 analysts guided lower.
The company is a Zacks #4 Rank (”Sell”).
“CMA” Free Stock Analysis: Buy? Sell? Hold?
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