Analysts predict that Comerica Inc (NYSE:CMA) will report $1.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Comerica’s earnings. The highest EPS estimate is $1.58 and the lowest is $1.40. Comerica reported earnings of $1.11 per share in the same quarter last year, which indicates a positive year over year growth rate of 34.2%. The company is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, April 17th.
On average, analysts expect that Comerica will report full-year earnings of $6.48 per share for the current fiscal year, with EPS estimates ranging from $6.05 to $6.80. For the next fiscal year, analysts expect that the company will post earnings of $7.25 per share, with EPS estimates ranging from $6.70 to $8.14. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Comerica.
Comerica (NYSE:CMA) last announced 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 firm 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 in the prior year, the company earned $0.92 EPS.
CMA has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $103.00 price objective on shares of Comerica in a research note on Wednesday, January 17th. Vining Sparks reiterated a “buy” rating and set a $97.50 price target on shares of Comerica in a research note on Tuesday, January 16th. Nomura upgraded Comerica from a “neutral” rating to a “buy” rating and increased their price target for the stock 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 reiterated a “buy” rating and set a $101.00 price target on shares of Comerica in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. Comerica has a consensus rating of “Hold” and a consensus price target of $96.10.
In other Comerica news, EVP Megan D. Burkhart sold 4,670 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total value of $463,264.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter William Guilfoile sold 1,052 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $97.00, for a total value of $102,044.00. The disclosure for this sale can be found here. Insiders have sold a total of 272,006 shares of company stock worth $26,250,992 in the last three months. 0.83% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in CMA. Driehaus Capital Management LLC purchased a new stake in shares of Comerica in the 4th quarter valued at about $209,000. Westwood Holdings Group Inc. purchased a new stake in shares of Comerica in the 4th quarter valued at about $210,000. JLB & Associates Inc. purchased a new stake in shares of Comerica in the 4th quarter valued at about $217,000. ZWJ Investment Counsel Inc. purchased a new stake in shares of Comerica in the 4th quarter valued at about $217,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of Comerica in the 4th quarter valued at about $218,000. 83.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CMA opened at $96.11 on Tuesday. The firm has a market capitalization of $16,602.17, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. The company has a quick ratio of 1.00, a current 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 $102.66.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Thursday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. Comerica’s dividend payout ratio (DPR) 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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