Why Comerica Stock Was Sliding Today
A mixed earnings report sent shares of (NYSE: CMA) downward on Monday. By mid-afternoon, the financial services company's shares were down by more than 5%, a steeper decline than the 3.2% fall of the S 500 index at that point in the trading session.
In the first quarter, Comerica booked $829 million in total revenue. Although that was up 6% compared to the prior-year period, it didn't quite meet the analysts' consensus estimate for revenue of slightly more than $831 million.
The picture was brighter on the bottom line, where the company's GAAP net income rocketed 25% higher year over year to land at $172 million, or $1.25 per share. The average analyst's projection was for $1.16.
Source Fool.com
Comerica Inc. Stock
€75.50
0.000%
Currently there is a rather positive sentiment for Comerica Inc. with 11 Buy predictions and 6 Sell predictions.
On the other hand, the target price of 65 € is below the current price of 75.5 € for Comerica Inc., so the potential is actually -13.91%.
