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Strength seen in Commerzbank AG (CRZBY): Can its 9.2% jump turn into more strength?


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

Commerzbank shares rallied for the third day in a row. As runaway inflation, supply chain constraints and recession fears weigh on investor sentiment, higher interest rates and decent loan demand should continue to support banking sector stocks ahead. short term. This may have led to investors’ optimistic stance, which drove CRZBY stock higher.

This company is expected to post quarterly earnings of $0.33 per share in its next report, representing a year-over-year change of +150.8%. Revenue is expected to be $2.45 billion, down 6.8% from the prior year quarter.

Earnings and revenue growth forecasts certainly give a good idea of ​​a stock’s potential strength, but empirical research shows that trends in earnings estimate revisions are highly correlated with short-term stock price movements.

For Commerzbank AG, the consensus EPS estimate for the quarter remained unchanged for the past 30 days. And the price of a stock generally does not continue to rise in the absence of any trend in earnings estimate revisions. So, be sure to keep an eye on CRZBY to see if that recent jump can turn into more strength down the road.

The stock currently carries a Zacks rank of No. 3 (Hold). You can see the full list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

Commerzbank AG is owned by Zacks Banks – Foreign Industry. Another stock from the same industry, Barclays (BCS), closed the last trading session up 4% at $7.73. Over the past month, BCS has returned -4.4%.

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

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