Comerica Incorporated (CMA) Forecasted to Earn Q2 2019 Earnings of $2.02 Per Share
Comerica Incorporated (NYSE:CMA) – Analysts at Wedbush lifted their Q2 2019 earnings per share estimates for shares of Comerica in a research report issued on Monday, December 3rd. Wedbush analyst P. Winter now anticipates that the financial services provider will post earnings per share of $2.02 for the quarter, up from their previous forecast of $2.00. Wedbush also issued estimates for Comerica’s Q3 2019 earnings at $2.07 EPS, Q4 2019 earnings at $2.13 EPS and FY2020 earnings at $8.77 EPS.
Other analysts also recently issued reports about the company. Nomura cut their price objective on Comerica from $114.00 to $102.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. B. Riley set a $107.00 target price on Comerica and gave the company a “buy” rating in a research report on Monday, October 15th. Vining Sparks reaffirmed a “buy” rating and issued a $107.00 target price on shares of Comerica in a research report on Tuesday, October 9th. Piper Jaffray Companies set a $106.00 target price on Comerica and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on Comerica from $111.00 to $107.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Comerica has a consensus rating of “Hold” and an average target price of $101.61.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.05. The firm had revenue of $833.00 million during the quarter, compared to the consensus estimate 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 company earned $1.26 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Comerica by 5.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,120,976 shares of the financial services provider’s stock valued at $101,112,000 after buying an additional 61,777 shares during the period. Korea Investment CORP boosted its stake in shares of Comerica by 3.9% in the 2nd quarter. Korea Investment CORP now owns 464,017 shares of the financial services provider’s stock valued at $42,188,000 after buying an additional 17,500 shares during the period. Argent Trust Co purchased a new position in shares of Comerica in the 2nd quarter valued at about $379,000. First Midwest Bank Trust Division boosted its stake in shares of Comerica by 14.3% in the 3rd quarter. First Midwest Bank Trust Division now owns 14,776 shares of the financial services provider’s stock valued at $1,333,000 after buying an additional 1,846 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of Comerica by 300.1% in the 2nd quarter. Verition Fund Management LLC now owns 32,420 shares of the financial services provider’s stock valued at $2,948,000 after buying an additional 24,317 shares during the period. Institutional investors and hedge funds own 84.97% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, December 13th. Comerica’s payout ratio is presently 50.74%.
Comerica Company Profile
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering 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.
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