Comerica (CMA) Set to Announce Earnings on Friday

Comerica (NYSE:CMA) is scheduled to be announcing its earnings results before the market opens on Friday, October 18th. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the firm posted $2.01 EPS. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Comerica Stock Performance

Shares of CMA opened at $59.36 on Friday. Comerica has a 1 year low of $37.40 and a 1 year high of $61.84. The stock has a market capitalization of $7.87 billion, a PE ratio of 11.80 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day simple moving average of $56.71 and a 200-day simple moving average of $53.41.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.71 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.78%. Comerica’s dividend payout ratio is currently 56.46%.

Insider Activity at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CMA. JPMorgan Chase & Co. raised their price objective on shares of Comerica from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, July 2nd. Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $55.00 to $52.00 in a report on Monday. Royal Bank of Canada decreased their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $58.00 price target on shares of Comerica in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.62.

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.