Comerica (CMA) Set to Announce Earnings on Friday

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

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the company earned $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 Up 0.8 %

CMA opened at $61.85 on Wednesday. Comerica has a 12 month low of $37.40 and a 12 month high of $63.20. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average price is $57.29 and its 200-day moving average price is $53.57. The company has a market cap of $8.20 billion, a P/E ratio of 12.30 and a beta of 1.23.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CMA shares. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. StockNews.com downgraded shares of Comerica from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Evercore ISI raised their target price on shares of Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Robert W. Baird decreased their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Finally, DA Davidson reiterated a “neutral” rating and set a $55.00 target price on shares of Comerica in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Comerica has an average rating of “Hold” and an average target price of $59.62.

Insider Buying and Selling

In other news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

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.