Equities research analysts expect that Comerica Inc (NYSE:CMA) will announce earnings of $1.49 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Comerica’s earnings. The lowest EPS estimate is $1.40 and the highest is $1.58. Comerica posted earnings per share of $1.11 in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.2%. The business is expected to issue its next earnings results before the market opens on Tuesday, April 17th.
According to Zacks, analysts expect that Comerica will report full-year earnings of $6.48 per share for the current financial year, with EPS estimates ranging from $6.05 to $6.80. For the next year, analysts anticipate that the company will report earnings of $7.25 per share, with EPS estimates ranging from $6.70 to $8.14. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Comerica.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. The company had revenue of $830.00 million during the quarter, compared to analysts’ expectations 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 business posted $0.92 EPS.
CMA has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $103.00 target price on shares of Comerica in a research note on Wednesday, January 17th. Vining Sparks restated a “buy” rating and issued a $97.50 target price on shares of Comerica in a research note on Tuesday, January 16th. Nomura upgraded Comerica from a “neutral” rating to a “buy” rating and raised their target price for the company from $86.00 to $106.00 in a research note on Friday, January 5th. Instinet upgraded Comerica from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $101.00 target price on shares of Comerica in a research note on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $96.10.
In other news, insider Peter William Guilfoile sold 1,052 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $97.00, for a total value of $102,044.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Megan D. Burkhart sold 4,670 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total value of $463,264.00. The disclosure for this sale can be found here. Insiders sold 272,006 shares of company stock valued at $26,250,992 in the last 90 days. Company insiders own 0.83% of the company’s stock.
Several hedge funds have recently bought and sold shares of CMA. Driehaus Capital Management LLC purchased a new position in shares of Comerica in the fourth quarter worth $209,000. Westwood Holdings Group Inc. purchased a new position in shares of Comerica in the fourth quarter worth $210,000. JLB & Associates Inc. purchased a new position in shares of Comerica in the fourth quarter worth $217,000. ZWJ Investment Counsel Inc. purchased a new position in shares of Comerica in the fourth quarter worth $217,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Comerica in the fourth quarter worth $218,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.
CMA opened at $96.11 on Tuesday. The company has a market capitalization of $16,602.17, a PE ratio of 20.32, a PEG ratio of 1.42 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica has a 52 week low of $64.04 and a 52 week high of $102.66.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Wednesday, March 14th. Comerica’s payout ratio is 25.37%.
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Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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