The CMA stock reported an EPS of $2.01 for the period ending June 2023, beating the analysts’ estimate of $1.86 by 8.08%. The revenue for the next quarter is estimated to be $878.249 Million and the estimated EPS is $1.683. The report will be released on October 20, 2023.
The CMA latest quarterly earnings report for the period ending June 2023 displayed a revenue of $1.33 Billion, with a net income of $271.00 Million, and a loss in profit margin from the last quarter of 20.36%. This quarter, the CMA reported revenue exceeded analysts’ estimates by $21.205 Million (2.35%).
The CMA stock’s dividend yield for the TTM is 6.94% and its last dividend payment was $0.71 per share. The last ex-dividend date was September 14th, 2023 and its payout ratio is 28.96%.
Additionally, CMA stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $90.76 Billion and total liabilities of $85.17 Billion. The CMA debt-to-assets ratio is at 93.84%.
CMA Stock Price Technical Analysis in 1-D Timeframe
The CMA stock’s average volume for the last 10 days is 2.307 Million and its current volume is 1.753 Million. The CMA stock has a CMP of $40.51 and an intraday gain of 1.05%. The CMA stock has a float of 130.826 Million shares and a market cap of $5.338 Billion.
The CMA stock price rose from the $24 support level in March 2020 and reached a high of $102 in February 2022, making higher highs and lows. It faced resistance and fell sharply due to investors taking profits after the multiple quarterly reports and dividends. However, the stock faced a few setbacks and constant selling pressure and could not overcome them.
It showed poor performance by declining in the last 2 years. Now, the stock is at major support of $40 and is trying to hold at an order block where the price had a previous surge.
Therefore, if Comerica stock manages to gain strong buying momentum and surges above the swing high, it can trigger a threat for investors by giving a bigger rally. The probable resistance levels are between $50 and $55.
Alternatively, if the stock faces resistance again and continues to fall below $35, then it could fall up to $30.
At the time of publishing, the price of Comerica Incorporated (NYSE: CMA) stock is trying to sustain, despite the bearish EMAs. From the immediate support, if more buying pressure surges, it might conquer rejecting EMAs as well. The MACD indicates a bullish cross. The RSI is at 37 and has bounced off the 14 SMA. The indicators in the CMA stock suggest bullish signs on the charts.
Moreover, the CMA stock ratings are positive and highly recommended based on 26 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for the stock by 22 analysts range between $45.00 to $75.00
Summary
Comerica Incorporated (NYSE: CMA) chart indicates that the traders and investors of the stock price are bullish and positive on the 1-D time frame. The CMA price action shows a bullish outlook at the time of publishing. The technical analysis tools of the Comerica stock price highlight upward signals and support bullishness.
Technical Levels
Support Levels: $35 and $30
Resistance Levels: $50 and $55
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/10/cma-stock-will-nyse-cma-price-sustain-and-show-strength-soon/