Analysts expect that Comerica Incorporated (NYSE:CMA) will post $1.64 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have provided estimates for Comerica’s earnings, with the highest EPS estimate coming in at $1.69 and the lowest estimate coming in at $1.58. Comerica posted earnings of $2.08 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 21.2%. The business is expected to issue its next quarterly earnings results on Tuesday, April 21st.
On average, analysts expect that Comerica will report full-year earnings of $6.74 per share for the current fiscal year, with EPS estimates ranging from $6.55 to $6.91. For the next fiscal year, analysts forecast that the business will report earnings of $7.01 per share, with EPS estimates ranging from $6.63 to $7.30. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Comerica.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $810.00 million for the quarter, compared to analyst estimates of $801.73 million. Comerica had a return on equity of 16.20% and a net margin of 31.33%. During the same period in the prior year, the company earned $1.88 EPS.
Several equities analysts have recently commented on the company. Citigroup upgraded Comerica from a “sell” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $70.00 in a research report on Wednesday, January 22nd. DA Davidson restated an “average” rating and set a $69.00 target price on shares of Comerica in a report on Wednesday, January 22nd. BMO Capital Markets dropped their target price on Comerica from $72.00 to $70.00 and set a “market perform” rating for the company in a report on Wednesday, January 22nd. Stephens dropped their target price on Comerica from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Morgan Stanley dropped their target price on Comerica from $79.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average price target of $72.97.
In other Comerica news, EVP James Harry Weber sold 6,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $63.54, for a total value of $413,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in Comerica in the 4th quarter worth approximately $27,000. Quadrant Capital Group LLC lifted its holdings in Comerica by 169.7% in the 4th quarter. Quadrant Capital Group LLC now owns 499 shares of the financial services provider’s stock worth $30,000 after buying an additional 314 shares during the period. Thor Advisors LLC purchased a new stake in Comerica in the 3rd quarter worth approximately $34,000. NuWave Investment Management LLC lifted its holdings in Comerica by 636.6% in the 4th quarter. NuWave Investment Management LLC now owns 523 shares of the financial services provider’s stock worth $38,000 after buying an additional 452 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Comerica in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 81.95% of the company’s stock.
Shares of Comerica stock traded down $0.95 during trading on Friday, hitting $62.48. 2,118,509 shares of the stock traded hands, compared to its average volume of 1,664,256. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.99. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 0.61 and a beta of 1.55. The firm’s fifty day moving average is $65.20 and its 200-day moving average is $66.27. Comerica has a 52 week low of $58.54 and a 52 week high of $88.96.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, March 12th. This is a boost from Comerica’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 4.35%. Comerica’s dividend payout ratio is currently 34.31%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.
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