Comerica (CMA) Set to Announce Quarterly Earnings on Tuesday

Comerica (NYSE:CMA) is set to post its quarterly earnings results before the market opens on Tuesday, January 16th. Analysts expect Comerica to post earnings of $1.19 per share for the quarter.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million during the quarter, compared to analyst estimates of $812.83 million. Comerica had a net margin of 24.87% and a return on equity of 10.35%. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Comerica (CMA) opened at $93.04 on Monday. The company has a market cap of $16,181.05, a PE ratio of 21.05, a PEG ratio of 1.68 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 52-week low of $64.04 and a 52-week high of $93.54.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, December 14th. Comerica’s dividend payout ratio is currently 27.15%.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price objective for the company in a research report on Wednesday, January 10th. Vining Sparks reissued a “buy” rating and issued a $97.50 target price on shares of Comerica in a research note on Monday, January 8th. SunTrust Banks reissued a “hold” rating and issued a $86.00 target price on shares of Comerica in a research note on Tuesday, January 9th. Instinet reissued a “neutral” rating and issued a $74.00 target price (up previously from $71.00) on shares of Comerica in a research note on Saturday, September 30th. Finally, Nomura upped their target price on shares of Comerica from $71.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.07.

In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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Comerica Company Profile

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.

Earnings History for Comerica (NYSE:CMA)

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