Analysts Anticipate Comerica Incorporated (CMA) Will Post Earnings of $1.85 Per Share

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Analysts forecast that Comerica Incorporated (NYSE:CMA) will report $1.85 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have issued estimates for Comerica’s earnings, with the lowest EPS estimate coming in at $1.80 and the highest estimate coming in at $1.89. Comerica posted earnings of $1.24 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 49.2%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, January 16th.

On average, analysts expect that Comerica will report full year earnings of $7.18 per share for the current year, with EPS estimates ranging from $7.14 to $7.21. For the next fiscal year, analysts forecast that the firm will post earnings of $8.04 per share, with EPS estimates ranging from $7.80 to $8.35. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Comerica.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The company had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $852.72 million. Comerica had a return on equity of 14.41% and a net margin of 29.54%. During the same period last year, the business posted $1.26 earnings per share.

CMA has been the topic of a number of recent research reports. ValuEngine cut Comerica from a “sell” rating to a “strong sell” rating in a research note on Thursday. Morgan Stanley lowered their price target on Comerica from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, December 11th. BMO Capital Markets lowered their price target on Comerica from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 17th. SunTrust Banks lowered their price target on Comerica to $91.00 and set a “hold” rating on the stock in a report on Wednesday, October 17th. Finally, Piper Jaffray Companies set a $106.00 price target on Comerica and gave the company a “buy” rating in a report on Tuesday, December 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average price target of $100.26.

CMA stock opened at $68.98 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 0.49 and a beta of 1.38. Comerica has a 1 year low of $68.67 and a 1 year high of $102.66.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Thursday, December 13th. Comerica’s payout ratio is currently 50.74%.

A number of large investors have recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Comerica by 4.7% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,264 shares of the financial services provider’s stock worth $1,206,000 after acquiring an additional 600 shares during the period. Advisor Partners LLC grew its holdings in Comerica by 7.3% during the third quarter. Advisor Partners LLC now owns 9,662 shares of the financial services provider’s stock worth $872,000 after acquiring an additional 658 shares during the period. Strs Ohio grew its holdings in Comerica by 1.8% during the third quarter. Strs Ohio now owns 39,675 shares of the financial services provider’s stock worth $3,578,000 after acquiring an additional 697 shares during the period. First Republic Investment Management Inc. grew its holdings in Comerica by 10.8% during the second quarter. First Republic Investment Management Inc. now owns 7,294 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 713 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Comerica by 9.7% during the third quarter. Fifth Third Bancorp now owns 8,157 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 719 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

About Comerica

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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Earnings History and Estimates for Comerica (NYSE:CMA)

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