Comerica Incorporated (NYSE:CMA) – Analysts at Wedbush cut their Q4 2019 earnings per share (EPS) estimates for shares of Comerica in a research note issued on Sunday, December 8th. Wedbush analyst P. Winter now expects that the financial services provider will post earnings per share of $1.74 for the quarter, down from their previous forecast of $1.77. Wedbush currently has a “Neutral” rating and a $71.00 target price on the stock. Wedbush also issued estimates for Comerica’s Q1 2020 earnings at $1.65 EPS, Q2 2020 earnings at $1.76 EPS, FY2020 earnings at $7.00 EPS and FY2021 earnings at $7.31 EPS.
Several other research firms also recently commented on CMA. UBS Group decreased their price objective on shares of Comerica from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Odeon Capital Group downgraded shares of Comerica from a “buy” rating to a “sell” rating in a report on Wednesday, September 4th. ValuEngine downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $77.00 to $75.00 in a report on Tuesday, November 26th. Finally, Argus downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Six analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Comerica currently has a consensus rating of “Hold” and a consensus target price of $72.91.
NYSE:CMA opened at $69.91 on Tuesday. Comerica has a one year low of $58.54 and a one year high of $88.96. The company has a market cap of $10.29 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.57 and a beta of 1.56. The firm’s fifty day moving average price is $69.25 and its two-hundred day moving average price is $67.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03.
Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.06. Comerica had a net margin of 32.11% and a return on equity of 16.82%. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $836.10 million. During the same period in the previous year, the company earned $1.86 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Covington Capital Management boosted its position in shares of Comerica by 88.5% in the second quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 193 shares during the period. Thor Advisors LLC bought a new stake in Comerica during the third quarter worth about $34,000. Cerebellum GP LLC bought a new stake in Comerica during the third quarter worth about $38,000. Creative Financial Designs Inc. ADV bought a new stake in Comerica during the second quarter worth about $51,000. Finally, CSat Investment Advisory L.P. lifted its position in Comerica by 170.5% during the second quarter. CSat Investment Advisory L.P. now owns 706 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 445 shares during the period. 82.56% of the stock is owned by institutional investors.
In other news, Director Reginald M. Turner, Jr. sold 2,495 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $66.66, for a total value of $166,316.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter William Guilfoile sold 6,959 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $71.45, for a total transaction of $497,220.55. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.67 dividend. The ex-dividend date is Thursday, December 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.83%. Comerica’s payout ratio is presently 37.02%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
Recommended Story: Producer Price Index (PPI)
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.