Q1 2020 EPS Estimates for Comerica Incorporated Lifted by Wedbush (NYSE:CMA)

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Comerica Incorporated (NYSE:CMA) – Investment analysts at Wedbush upped their Q1 2020 earnings per share estimates for Comerica in a research report issued on Tuesday, January 21st. Wedbush analyst P. Winter now expects that the financial services provider will post earnings of $1.64 per share for the quarter, up from their previous estimate of $1.62.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.11. The business had revenue of $810.00 million during the quarter, compared to analyst estimates of $801.73 million. Comerica had a return on equity of 16.20% and a net margin of 31.33%. During the same quarter last year, the business posted $1.88 EPS.

CMA has been the subject of a number of other research reports. BMO Capital Markets reduced their price objective on Comerica from $72.00 to $70.00 and set a “market perform” rating for the company in a research note on Wednesday. Argus lowered Comerica from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. UBS Group cut their price target on Comerica from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Stephens cut their price target on Comerica from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, ValuEngine upgraded Comerica from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $72.97.

NYSE CMA opened at $65.99 on Friday. The stock has a 50-day simple moving average of $70.33 and a two-hundred day simple moving average of $67.56. The firm has a market capitalization of $9.57 billion, a P/E ratio of 8.40, a PEG ratio of 0.63 and a beta of 1.56. Comerica has a fifty-two week low of $58.54 and a fifty-two week high of $88.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.03 and a current ratio of 1.03.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $2.68 annualized dividend and a yield of 4.06%. Comerica’s dividend payout ratio (DPR) is currently 34.31%.

In other news, Director Reginald M. Turner, Jr. sold 2,495 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.66, for a total transaction of $166,316.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter William Guilfoile sold 6,959 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.45, for a total value of $497,220.55. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Advisor Partners LLC boosted its holdings in shares of Comerica by 7.6% during the 4th quarter. Advisor Partners LLC now owns 12,583 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 887 shares during the last quarter. First Midwest Bank Trust Division acquired a new position in shares of Comerica during the 4th quarter worth approximately $386,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Comerica during the 4th quarter worth approximately $207,000. Convergence Investment Partners LLC acquired a new position in shares of Comerica during the 4th quarter worth approximately $210,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in shares of Comerica during the 4th quarter worth approximately $1,439,000. Institutional investors and hedge funds own 82.69% of the company’s stock.

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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Earnings History and Estimates for Comerica (NYSE:CMA)

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