Comerica Incorporated (NYSE:CMA) – Investment analysts at B. Riley boosted their Q2 2019 earnings per share (EPS) estimates for Comerica in a research report issued to clients and investors on Thursday, July 11th. B. Riley analyst S. Moss now anticipates that the financial services provider will post earnings per share of $2.00 for the quarter, up from their prior estimate of $1.99. B. Riley has a “Hold” rating and a $75.00 price target on the stock. B. Riley also issued estimates for Comerica’s Q3 2019 earnings at $1.98 EPS, FY2019 earnings at $7.88 EPS and FY2020 earnings at $7.58 EPS.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.15. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $852.88 million. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 earnings per share.
Several other equities research analysts also recently weighed in on the company. Bank of America set a $97.00 price target on Merck & Co., Inc. and gave the stock a “buy” rating in a report on Thursday. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. DA Davidson lowered their price target on Comerica from $87.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price target on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Finally, Citigroup raised Infosys from a “neutral” rating to a “buy” rating in a report on Friday. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.05.
Shares of NYSE CMA opened at $72.84 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $11.23 billion, a P/E ratio of 10.06, a PEG ratio of 1.28 and a beta of 1.44. The business has a 50-day simple moving average of $71.03. Comerica has a fifty-two week low of $63.69 and a fifty-two week high of $100.64.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, June 13th. Comerica’s payout ratio is 37.02%.
In other news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $73.49, for a total value of $235,168.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in Comerica by 166.2% during the first quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock valued at $262,602,000 after acquiring an additional 2,236,331 shares in the last quarter. Geode Capital Management LLC raised its position in Comerica by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock valued at $152,960,000 after acquiring an additional 76,845 shares in the last quarter. Two Sigma Advisers LP raised its position in Comerica by 133.4% during the fourth quarter. Two Sigma Advisers LP now owns 1,848,949 shares of the financial services provider’s stock valued at $127,004,000 after acquiring an additional 1,056,658 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Comerica by 15.8% during the first quarter. Rockefeller Capital Management L.P. now owns 1,477,968 shares of the financial services provider’s stock valued at $108,365,000 after acquiring an additional 202,136 shares in the last quarter. Finally, Norges Bank purchased a new position in Comerica during the fourth quarter valued at approximately $89,893,000. Institutional investors own 83.43% of the company’s stock.
Comerica Company Profile
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.