Morningstar Gives “A-” Credit Rating to Comerica (CMA)
Comerica (NYSE:CMA) has earned an “A-” credit rating from analysts at Morningstar. The firm’s “A-” rating suggests that the company is a low default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Comerica in a research note on Monday. They now have a $53.00 price target on the stock. Separately, analysts at Susquehanna upgraded shares of Comerica from a “negative” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $49.00 price target on the stock, up previously from $39.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Comerica in a research note on Wednesday, July 16th. They now have a $61.00 price target on the stock, up previously from $56.00. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.00.
Comerica (NYSE:CMA) opened at 50.61 on Friday. Comerica has a 1-year low of $38.56 and a 1-year high of $53.50. The stock has a 50-day moving average of $49.67 and a 200-day moving average of $49.28. The company has a market cap of $9.152 billion and a price-to-earnings ratio of 17.26.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, July 15th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.04. During the same quarter last year, the company posted $0.76 earnings per share. On average, analysts predict that Comerica will post $3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, September 11th.
In other Comerica news, EVP Jon W. Bilstrom sold 3,683 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $50.56, for a total value of $186,212.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Comerica Incorporated (NYSE:CMA) is a financial services company.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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