Comerica Incorporated (NYSE:CMA) is set to issue its quarterly earnings data before the market opens on Tuesday, October 17th. Analysts expect the company to announce earnings of $1.17 per share for the quarter.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $777.08 million. Comerica had a net margin of 23.22% and a return on equity of 9.60%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, analysts expect Comerica to post $4.78 EPS for the current fiscal year and $5.24 EPS for the next fiscal year.
Comerica Incorporated (CMA) opened at 75.55 on Friday. Comerica Incorporated has a 52-week low of $47.88 and a 52-week high of $77.95. The company has a market cap of $13.29 billion, a PE ratio of 18.87 and a beta of 1.51. The stock’s 50 day moving average is $72.01 and its 200-day moving average is $71.26.
The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 15th were paid a dividend of $0.30 per share. This is a positive change from Comerica’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Comerica’s payout ratio is presently 30.00%.
Comerica announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $605.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
In other news, insider Peter William Guilfoile sold 2,928 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $69.50, for a total transaction of $203,496.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul R. Obermeyer sold 20,321 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $70.24, for a total transaction of $1,427,347.04. The disclosure for this sale can be found here. Insiders have sold 44,249 shares of company stock valued at $3,095,383 over the last three months. 1.10% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Wells Fargo & Company assumed coverage on shares of Comerica in a research note on Wednesday, August 9th. They set a “market perform” rating and a $73.00 target price on the stock. Citigroup Inc. reaffirmed a “sell” rating and set a $69.00 target price (up previously from $65.00) on shares of Comerica in a research note on Monday, October 9th. Finally, Nomura boosted their price objective on shares of Comerica from $71.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.32.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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