Q1 2018 EPS Estimates for Comerica Incorporated Increased by Analyst (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) – SunTrust Banks increased their Q1 2018 earnings per share estimates for Comerica in a research report issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now expects that the financial services provider will post earnings per share of $1.42 for the quarter, up from their prior estimate of $1.25. SunTrust Banks has a “Hold” rating and a $86.00 price objective on the stock. SunTrust Banks also issued estimates for Comerica’s Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.53 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $5.99 EPS and FY2019 earnings at $6.50 EPS.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price objective on the stock in a research report on Wednesday, January 10th. Vining Sparks reiterated a “buy” rating and issued a $97.50 price target on shares of Comerica in a research report on Tuesday. Robert W. Baird reiterated a “hold” rating and issued a $95.00 price target on shares of Comerica in a research report on Wednesday. DA Davidson upped their price target on Comerica to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Sanford C. Bernstein set a $99.00 price target on Comerica and gave the company a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $90.66.

Shares of Comerica (NYSE:CMA) opened at $93.79 on Wednesday. The stock has a market capitalization of $16,310.00, a P/E ratio of 21.27, a PEG ratio of 1.65 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 1 year low of $64.04 and a 1 year high of $95.49.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $830.00 million for the quarter, compared to analysts’ expectations of $819.30 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the previous year, the business posted $0.92 earnings per share.

Several institutional investors and hedge funds have recently modified their holdings of the company. Veritable L.P. lifted its stake in shares of Comerica by 0.3% during the second quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 32 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Comerica by 0.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,145 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 100 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Comerica by 1.2% during the second quarter. Sentry Investment Management LLC now owns 11,711 shares of the financial services provider’s stock valued at $858,000 after acquiring an additional 142 shares during the period. AXA lifted its stake in shares of Comerica by 1.0% during the second quarter. AXA now owns 20,600 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 200 shares during the period. Finally, Tredje AP fonden lifted its stake in shares of Comerica by 4.7% during the second quarter. Tredje AP fonden now owns 7,430 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 331 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, December 14th. Comerica’s payout ratio is presently 27.21%.

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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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Earnings History and Estimates for Comerica (NYSE:CMA)

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