Comerica (NYSE:CMA) will be posting its quarterly earnings results before the market opens on Tuesday, April 16th. Analysts expect Comerica to post earnings of $1.94 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link .
Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The company had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $863.43 million. Comerica had a net margin of 34.24% and a return on equity of 15.84%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. On average, analysts expect Comerica to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.
Get Comerica alerts: Shares of CMA opened at $80.33 on Friday. The company has a market cap of $12.33 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. Comerica has a twelve month low of $63.69 and a twelve month high of $101.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.03 and a quick ratio of 1.03.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.67 per share. This is a boost from Comerica’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 37.02%.
Comerica declared that its Board of Directors has authorized a stock repurchase program on Tuesday, January 22nd that allows the company to buyback 15,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
In other Comerica news, insider Peter William Guilfoile sold 2,922 shares of the firm’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $82.26, for a total transaction of $240,363.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link . Also, EVP Megan D. Burkhart sold 7,443 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $87.55, for a total value of $651,634.65. The disclosure for this sale can be found here . Insiders have sold a total of 18,565 shares of company stock valued at $1,603,348 in the last ninety days. Insiders own 0.98% of the company’s stock.
Several equities analysts recently weighed in on CMA shares. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and decreased their target price for the company from $89.00 to $84.00 in a research note on Thursday, April 4th. Morgan Stanley decreased their target price on shares of Comerica from $98.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, ValuEngine cut shares of Comerica from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Comerica has a consensus rating of “Hold” and a consensus price target of $92.38.
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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.
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