Analysts expect that Comerica Incorporated (NYSE:CMA) will report earnings per share of $1.76 for the current quarter, according to Zacks. Nine analysts have made estimates for Comerica’s earnings, with the highest EPS estimate coming in at $1.83 and the lowest estimate coming in at $1.71. Comerica posted earnings per share of $1.26 in the same quarter last year, which would indicate a positive year-over-year growth rate of 39.7%. The business is scheduled to announce its next earnings results before the market opens on Tuesday, October 16th.
On average, analysts expect that Comerica will report full-year earnings of $7.06 per share for the current year, with EPS estimates ranging from $6.94 to $7.15. For the next financial year, analysts expect that the firm will post earnings of $8.02 per share, with EPS estimates ranging from $7.70 to $8.54. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Comerica.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.64 by $0.26. Comerica had a net margin of 27.28% and a return on equity of 13.14%. The company had revenue of $838.00 million for the quarter, compared to analyst estimates of $833.59 million. During the same quarter last year, the business earned $1.13 earnings per share. Comerica’s revenue was up 8.0% compared to the same quarter last year.
Several brokerages have commented on CMA. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Sandler O’Neill restated a “hold” rating and issued a $100.00 price target on shares of Comerica in a research note on Thursday, July 26th. Citigroup raised their price target on shares of Comerica from $84.00 to $88.00 and gave the company a “sell” rating in a research note on Friday, July 20th. Vining Sparks restated a “buy” rating and issued a $107.00 price target on shares of Comerica in a research note on Tuesday. Finally, B. Riley raised their price target on shares of Comerica from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $101.72.
Shares of NYSE:CMA traded down $1.07 during trading hours on Friday, hitting $84.73. The stock had a trading volume of 3,012,180 shares, compared to its average volume of 1,586,775. Comerica has a 1-year low of $74.16 and a 1-year high of $102.66. The firm has a market capitalization of $15.46 billion, a P/E ratio of 17.91, a PEG ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a $0.60 dividend. The ex-dividend date was Thursday, September 13th. This is a boost from Comerica’s previous quarterly dividend of $0.34. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. Comerica’s dividend payout ratio (DPR) is 50.74%.
In other news, EVP Christine M. Moore sold 4,800 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $98.41, for a total value of $472,368.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in Comerica by 31.7% during the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after buying an additional 1,204,882 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Comerica by 11.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,754,008 shares of the financial services provider’s stock worth $168,263,000 after buying an additional 181,164 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Comerica by 61.5% during the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after buying an additional 491,843 shares in the last quarter. FMR LLC boosted its holdings in Comerica by 31.5% during the second quarter. FMR LLC now owns 1,074,432 shares of the financial services provider’s stock worth $97,687,000 after buying an additional 257,581 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Comerica by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,059,199 shares of the financial services provider’s stock worth $96,303,000 after buying an additional 4,136 shares in the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.
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.
Recommended Story: What Factors Can Affect Return on Equity?
Get a free copy of the Zacks research report on Comerica (CMA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.