Somewhat Positive Media Coverage Somewhat Unlikely to Affect Comerica (CMA) Stock Price
Headlines about Comerica (NYSE:CMA) have been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern rates the sentiment of media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Comerica earned a news impact score of 0.15 on Accern’s scale. Accern also gave news coverage about the financial services provider an impact score of 47.4042748310735 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news articles that may have impacted Accern’s rankings:
- Notable Monday Option Activity: CMA, PVH, JWN (nasdaq.com)
- PNC Financial (PNC) Beats Q3 Earnings Estimates, Costs Up (msn.com)
- Will Trading Weakness Impact Goldman’s (GS) Q3 Earnings? (nasdaq.com)
- Can Q3 Earnings Propel Comerica (CMA) Stock to New Highs? (finance.yahoo.com)
- Research Analysts Issue Forecasts for Comerica Incorporated’s Q4 2017 Earnings (CMA) (americanbankingnews.com)
Comerica (NYSE:CMA) opened at 75.34 on Tuesday. The company has a 50-day moving average of $72.01 and a 200 day moving average of $71.28. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 18.82 and a beta of 1.51. Comerica has a 52-week low of $47.88 and a 52-week high of $77.95.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $777.08 million. Comerica had a net margin of 23.22% and a return on equity of 9.60%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. On average, equities research analysts anticipate that Comerica will post $4.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. This is an increase from Comerica’s previous quarterly dividend of $0.26. Comerica’s payout ratio is currently 30.00%.
Comerica announced that its board has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $605.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
CMA has been the topic of several analyst reports. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Thursday, August 17th. Piper Jaffray Companies reissued a “hold” rating and set a $76.00 target price on shares of Comerica in a research report on Friday, September 1st. FBR & Co set a $79.00 price target on shares of Comerica and gave the company a “buy” rating in a report on Tuesday, July 18th. Morgan Stanley restated an “equal weight” rating and set a $75.00 price target (up from $71.00) on shares of Comerica in a report on Thursday, July 6th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $80.00 price target (up from $78.00) on shares of Comerica in a report on Saturday, September 16th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. Comerica currently has a consensus rating of “Hold” and a consensus target price of $76.32.
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In other Comerica news, insider Peter William Guilfoile sold 2,928 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $69.50, for a total value of $203,496.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Judith S. Love sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total transaction of $1,464,540.00. The disclosure for this sale can be found here. Insiders sold a total of 44,249 shares of company stock valued at $3,095,383 in the last three months. Insiders own 1.10% of the company’s stock.
Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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