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Strength Seen in Commerzbank AG (CRZBY): Can Its 9.2% Jump Turn into More Strength?

Zacks Equity Research
·2-min read

Commerzbank AG (CRZBY) shares soared 9.2% in the last trading session to close at $6.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 24.7% loss over the past four weeks.

Shares of Commerzbank rallied for the third consecutive day. While raging inflation, supply-chain constraints and recessionary fears weigh on investor sentiments, higher interest rates and decent loan demand are expected to keep supporting stocks in the banking space in the near-term. This possibly led to the optimistic stance by the investors, which drove CRZBY stock higher.

This company is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of +150.8%. Revenues are expected to be $2.45 billion, down 6.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Commerzbank AG, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CRZBY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Commerzbank AG belongs to the Zacks Banks - Foreign industry. Another stock from the same industry, Barclays (BCS), closed the last trading session 4% higher at $7.73. Over the past month, BCS has returned -4.4%.

For Barclays , the consensus EPS estimate for the upcoming report has changed -6.2% over the past month to $0.39. This represents a change of -43.5% from what the company reported a year ago. Barclays currently has a Zacks Rank of #3 (Hold).


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Zacks Investment Research