SunTrust Banks Weighs in on Comerica Incorporated’s FY2017 Earnings (CMA)
Comerica Incorporated (NYSE:CMA) – Equities research analysts at SunTrust Banks cut their FY2017 EPS estimates for shares of Comerica in a report released on Tuesday. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will post earnings of $4.83 per share for the year, down from their previous estimate of $4.91. SunTrust Banks currently has a “Hold” rating and a $83.00 target price on the stock. SunTrust Banks also issued estimates for Comerica’s Q4 2017 earnings at $1.26 EPS, Q1 2018 earnings at $1.25 EPS, Q2 2018 earnings at $1.31 EPS, Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.37 EPS, FY2018 earnings at $5.28 EPS and FY2019 earnings at $5.73 EPS.
CMA has been the subject of a number of other research reports. Deutsche Bank lifted their price objective on Comerica from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. BidaskClub lowered Comerica from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “buy” rating and set a $82.00 price objective on shares of Comerica in a research note on Friday, September 8th. Finally, DA Davidson reiterated a “hold” rating and set a $81.00 price objective on shares of Comerica in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average price target of $79.60.
Comerica (CMA) opened at $83.78 on Thursday. The firm has a market capitalization of $14,488.86, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.51. Comerica has a 52 week low of $64.04 and a 52 week high of $85.28. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million during the quarter, compared to analyst estimates of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same quarter last year, the business posted $0.84 EPS.
Hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its holdings in Comerica by 11.4% in the 3rd quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock worth $5,092,000 after buying an additional 6,843 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of Comerica by 25.0% during the 2nd quarter. Chicago Equity Partners LLC now owns 36,540 shares of the financial services provider’s stock worth $2,676,000 after purchasing an additional 7,310 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Comerica by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock worth $829,069,000 after purchasing an additional 51,426 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of Comerica during the 2nd quarter worth approximately $1,147,000. Finally, Delta Lloyd Asset Management N.V. acquired a new position in shares of Comerica during the 2nd quarter worth approximately $1,876,000. Institutional investors own 82.07% of the company’s stock.
In related news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.43%. Comerica’s dividend payout ratio is presently 27.15%.
TRADEMARK VIOLATION WARNING: “SunTrust Banks Weighs in on Comerica Incorporated’s FY2017 Earnings (CMA)” was originally published by Daily Political and is owned by of Daily Political. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/12/02/suntrust-banks-weighs-in-on-comerica-incorporateds-fy2017-earnings-cma.html.
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.
Receive News & Ratings for Comerica Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.