Comerica (CMA) is expected to report Q3 earnings before market open Friday, Oct. 17, with a conference call scheduled for 8:00 am.
Analysts are looking for EPS of 27c on revenue of $666.64M. The consensus range for EPS is (15c) to 56c, while the consensus range for revenue is $526.08M to $711M, according to First Call.
Citigroup upgraded the bank to Buy from Sell because of the government's capital injection initiative. However, Barron's and Fitch were less positive on Comerica's outlook last month. Barron's predicted that small banks such as Comerica would report Q3 results that would be the same as or worse than their Q2 results. The magazine said it was cautious on the bank. Fitch reduced its ratings outlook for Comerica to negative from stable because of the bank's rising levels of non-performing assets, weaker earnings, and a decline in its capital ratio.