Comerica (CMA) to Release Earnings on Thursday

Comerica (NYSE:CMA) is scheduled to post its quarterly earnings results before the market opens on Thursday, April 18th. Analysts expect Comerica to post earnings of $1.12 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Comerica (NYSE:CMA) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.38 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $826.07 million. Comerica had a return on equity of 19.41% and a net margin of 16.71%. During the same period in the previous year, the company posted $2.58 EPS. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Comerica Stock Performance

Comerica stock opened at $50.85 on Tuesday. The stock’s 50 day moving average price is $51.38 and its 200 day moving average price is $49.08. Comerica has a one year low of $28.40 and a one year high of $57.39. The firm has a market capitalization of $6.74 billion, a PE ratio of 7.90 and a beta of 1.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 0.94.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date was Thursday, March 14th. Comerica’s payout ratio is 44.10%.

Insiders Place Their Bets

In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

A number of hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in shares of Comerica during the 4th quarter worth approximately $26,000. Almanack Investment Partners LLC. bought a new position in shares of Comerica during the 3rd quarter worth approximately $38,000. Chilton Capital Management LLC bought a new position in shares of Comerica during the 1st quarter worth approximately $28,000. Money Concepts Capital Corp bought a new position in shares of Comerica during the 4th quarter worth approximately $50,000. Finally, Comerica Bank acquired a new stake in Comerica during the 2nd quarter valued at $320,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMA shares. Morgan Stanley upped their target price on Comerica from $45.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Evercore ISI boosted their price target on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Barclays boosted their price target on Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods lowered their price target on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Finally, Argus downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $57.67.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.