News stories about Comerica (NYSE:CMA) have trended somewhat positive recently, Accern reports. The research group identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Comerica earned a news impact score of 0.04 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 92 out of 100, indicating that recent press coverage is extremely likely to have an effect on the stock’s share price in the immediate future.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Comerica beats by $0.09, revenue in-line (seekingalpha.com)
- Investor Network: Comerica Incorporated to Host Earnings Call (finance.yahoo.com)
- Comerica Incorporated (CMA) Receives Average Rating of “Hold” from Brokerages (americanbankingnews.com)
- Comerica Incorporated (CMA) 3.81% away from 50 SMA – Voice Of Analysts (analystsbuzz.com)
- Should You Buy Comerica (CMA) Ahead Of Earnings? – Investing.com (investing.com)
A number of brokerages have issued reports on CMA. Jefferies Group LLC restated a “buy” rating on shares of Comerica in a research note on Tuesday, March 21st. FBR & Co raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $79.00 price objective on the stock in a report on Friday, June 9th. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Monday, April 10th. Deutsche Bank AG raised their price objective on shares of Comerica to $74.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Finally, Morgan Stanley raised their price objective on shares of Comerica from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Comerica presently has an average rating of “Hold” and an average target price of $63.88.
Comerica (NYSE CMA) opened at 74.52 on Tuesday. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 21.59 and a beta of 1.48. The company has a 50-day moving average of $70.73 and a 200-day moving average of $69.82. Comerica has a 52-week low of $43.35 and a 52-week high of $75.72.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10. Comerica had a return on equity of 8.45% and a net margin of 20.42%. The company had revenue of $741 million for the quarter, compared to analyst estimates of $735.06 million. During the same period last year, the company earned $0.34 earnings per share. Equities research analysts expect that Comerica will post $4.48 EPS for the current year.
Comerica declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $605.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Thursday, June 15th were given a $0.26 dividend. This is a positive change from Comerica’s previous quarterly dividend of $0.23. The ex-dividend date was Tuesday, June 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.40%. Comerica’s dividend payout ratio (DPR) is 30.15%.
In other Comerica news, CEO Ralph W. Babb, Jr. sold 83,600 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $70.94, for a total transaction of $5,930,584.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.
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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