Equities research analysts predict that Comerica Incorporated (NYSE:CMA) will report sales of $852.72 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Comerica’s earnings, with the lowest sales estimate coming in at $844.00 million and the highest estimate coming in at $860.00 million. Comerica reported sales of $821.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, October 16th.
According to Zacks, analysts expect that Comerica will report full year sales of $3.36 billion for the current year, with estimates ranging from $3.35 billion to $3.37 billion. For the next financial year, analysts forecast that the firm will report sales of $3.55 billion, with estimates ranging from $3.49 billion to $3.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Comerica.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.26. The business had revenue of $838.00 million during the quarter, compared to analyst estimates of $833.59 million. Comerica had a return on equity of 13.14% and a net margin of 27.28%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share.
Shares of CMA stock traded down $1.07 during trading hours on Monday, reaching $84.73. The company had a trading volume of 3,012,180 shares, compared to its average volume of 1,586,775. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $15.46 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. Comerica has a 12-month low of $74.16 and a 12-month high of $102.66.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. This is a boost from Comerica’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, September 13th. Comerica’s dividend payout ratio is 50.74%.
In other Comerica news, EVP Christine M. Moore sold 4,800 shares of the company’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $98.41, for a total transaction of $472,368.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its stake in shares of Comerica by 2.2% in the third quarter. Bank of Montreal Can now owns 819,821 shares of the financial services provider’s stock valued at $73,950,000 after acquiring an additional 17,997 shares in the last quarter. MAI Capital Management acquired a new stake in shares of Comerica in the third quarter valued at $2,119,000. JLB & Associates Inc. acquired a new stake in shares of Comerica in the third quarter valued at $225,000. DNB Asset Management AS raised its stake in shares of Comerica by 4.2% in the third quarter. DNB Asset Management AS now owns 137,211 shares of the financial services provider’s stock valued at $12,376,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Lourd Capital LLC acquired a new stake in shares of Comerica in the third quarter valued at $426,000. Institutional investors own 81.32% of the company’s stock.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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