Comerica (NYSE:CMA) Issues Earnings Results

Comerica (NYSE:CMA) issued its quarterly earnings data on Monday. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11, RTT News reports. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the prior year, the company earned $1.29 earnings per share.

Comerica Trading Up 0.7 %

CMA opened at $52.89 on Monday. The stock has a market capitalization of $6.94 billion, a PE ratio of 10.54 and a beta of 0.96. Comerica has a one year low of $45.32 and a one year high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day moving average price is $58.88 and its 200 day moving average price is $62.93.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.37%. Comerica’s dividend payout ratio is currently 56.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Argus raised Comerica to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley lowered shares of Comerica from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $63.00 to $55.00 in a report on Monday, April 7th. UBS Group raised shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price objective on the stock in a report on Thursday, April 10th. Raymond James cut their target price on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Finally, Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.16.

About Comerica

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.