Comerica Incorporated Forecasted to Post Q1 2018 Earnings of $1.55 Per Share (CMA)

Comerica Incorporated (NYSE:CMA) – Equities research analysts at B. Riley boosted their Q1 2018 EPS estimates for Comerica in a report released on Thursday, Zacks Investment Research reports. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $1.55 per share for the quarter, up from their previous forecast of $1.34. B. Riley has a “Buy” rating and a $84.00 price objective on the stock. B. Riley also issued estimates for Comerica’s Q2 2018 earnings at $1.57 EPS.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. The business had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. Comerica had a return on equity of 10.94% and a net margin of 22.47%. During the same quarter last year, the company earned $0.92 EPS.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $79.00 target price on shares of Comerica in a research report on Friday, September 22nd. FBR & Co restated a “buy” rating and set a $84.00 target price (up previously from $79.00) on shares of Comerica in a research report on Tuesday, October 17th. Piper Jaffray Companies reiterated a “buy” rating on shares of Comerica in a research report on Tuesday, October 17th. Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Monday, December 11th. Finally, Instinet upgraded Comerica from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $92.37.

Comerica (NYSE:CMA) opened at $94.99 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $16,520.00, a P/E ratio of 22.94, a P/E/G ratio of 1.44 and a beta of 1.50. Comerica has a 52-week low of $64.04 and a 52-week high of $95.60.

The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. Comerica’s dividend payout ratio (DPR) is currently 28.99%.

In other news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMA. Janus Henderson Group PLC increased its stake in shares of Comerica by 12,425.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after buying an additional 2,047,881 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares during the period. Vanguard Group Inc. grew its stake in shares of Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares during the period. State Street Corp grew its stake in shares of Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Comerica by 132.7% during the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after purchasing an additional 965,041 shares during the period. 81.95% of the stock is owned by institutional investors.

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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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