Analysts Offer Predictions for Comerica Inc.’s Q1 2017 Earnings (CMA)
Comerica Inc. (NYSE:CMA) – Investment analysts at Jefferies Group issued their Q1 2017 earnings per share (EPS) estimates for shares of Comerica in a research note issued on Tuesday. Jefferies Group analyst K. Usdin anticipates that the firm will post earnings of $0.83 per share for the quarter. Jefferies Group also issued estimates for Comerica’s Q2 2017 earnings at $0.88 EPS, Q3 2017 earnings at $0.92 EPS, Q4 2017 earnings at $0.97 EPS and FY2018 earnings at $4.05 EPS.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Comerica had a net margin of 14.69% and a return on equity of 6.03%.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Bank of America Corp. downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $30.48 to $36.00 in a research report on Wednesday, June 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Comerica in a research report on Wednesday, July 6th. JPMorgan Chase & Co. decreased their price objective on shares of Comerica from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Finally, Wells Fargo & Co. upgraded shares of Comerica from an “underperform” rating to a “market perform” rating in a research report on Friday, July 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.04.
Shares of Comerica (NYSE:CMA) traded up 1.02% on Thursday, hitting $48.40. The stock had a trading volume of 1,633,374 shares. The firm has a market cap of $8.42 billion, a P/E ratio of 21.02 and a beta of 1.36. Comerica has a 12 month low of $30.48 and a 12 month high of $49.75. The firm’s 50-day moving average price is $47.25 and its 200 day moving average price is $44.18.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 38.82%.
In other news, insider Paul R. Obermeyer sold 2,302 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total value of $105,707.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Global X Management Co. LLC raised its stake in shares of Comerica by 128.8% in the second quarter. Global X Management Co. LLC now owns 2,862 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,611 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock worth $122,000 after buying an additional 244 shares during the last quarter. Tredje AP fonden raised its stake in shares of Comerica by 733.9% in the second quarter. Tredje AP fonden now owns 4,920 shares of the financial services provider’s stock worth $202,000 after buying an additional 4,330 shares during the last quarter. American National Registered Investment Advisor Inc. purchased a new stake in shares of Comerica during the second quarter worth $206,000. Finally, Dillon & Associates Inc. purchased a new stake in shares of Comerica during the second quarter worth $211,000. Institutional investors and hedge funds own 84.59% of the company’s stock.
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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