Comerica Incorporated (NYSE:CMA) – Research analysts at Wedbush decreased their FY2019 earnings per share (EPS) estimates for Comerica in a research report issued on Wednesday, October 16th. Wedbush analyst P. Winter now anticipates that the financial services provider will earn $7.72 per share for the year, down from their prior forecast of $7.74. Wedbush has a “Neutral” rating and a $71.00 price target on the stock. Wedbush also issued estimates for Comerica’s Q4 2019 earnings at $1.77 EPS, Q1 2020 earnings at $1.72 EPS, Q2 2020 earnings at $1.78 EPS, Q3 2020 earnings at $1.80 EPS, Q4 2020 earnings at $1.77 EPS, FY2020 earnings at $7.07 EPS and FY2021 earnings at $7.37 EPS.
Other equities analysts also recently issued research reports about the company. Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $85.00 to $71.00 in a research report on Thursday, July 11th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. B. Riley cut their target price on Comerica from $73.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Odeon Capital Group downgraded Comerica from a “buy” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Piper Jaffray Companies downgraded Comerica from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $74.50 to $72.50 in a research report on Thursday. Seven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.76.
Comerica stock opened at $65.45 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $9.65 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 0.59 and a beta of 1.53. Comerica has a one year low of $58.54 and a one year high of $88.96. The business has a 50 day simple moving average of $64.20 and a 200 day simple moving average of $69.75.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.06. Comerica had a return on equity of 16.82% and a net margin of 32.11%. The company had revenue of $842.00 million for the quarter, compared to analyst estimates of $836.10 million. During the same quarter last year, the firm earned $1.86 EPS. Comerica’s revenue for the quarter was up 1.1% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.67 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $2.68 annualized dividend and a yield of 4.09%. Comerica’s payout ratio is 37.02%.
Institutional investors and hedge funds have recently modified their holdings of the business. Covington Capital Management raised its position in Comerica by 88.5% in the 2nd quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 193 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Comerica in the 3rd quarter valued at $38,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Comerica in the 2nd quarter valued at $51,000. CSat Investment Advisory L.P. increased its stake in shares of Comerica by 170.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 706 shares of the financial services provider’s stock valued at $52,000 after buying an additional 445 shares during the period. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Comerica in the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.
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.
Featured Article: What is diluted earnings per share (Diluted EPS)?
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.