Jefferies Group Comments on Comerica Incorporated’s Q3 2018 Earnings (CMA)
Comerica Incorporated (NYSE:CMA) – Investment analysts at Jefferies Group boosted their Q3 2018 earnings per share estimates for shares of Comerica in a note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will earn $1.67 per share for the quarter, up from their previous forecast of $1.60. Jefferies Group also issued estimates for Comerica’s Q4 2018 earnings at $1.72 EPS and FY2019 earnings at $7.10 EPS.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 11.07% and a net margin of 22.47%. The company had revenue of $830.00 million for the quarter, compared to the consensus estimate of $819.30 million. During the same quarter in the previous year, the business earned $0.92 earnings per share.
Shares of Comerica (CMA) traded up $0.97 during midday trading on Thursday, hitting $94.76. The stock had a trading volume of 1,845,300 shares, compared to its average volume of 1,597,982. Comerica has a twelve month low of $64.04 and a twelve month high of $95.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $16,311.49, a PE ratio of 22.94, a PEG ratio of 1.66 and a beta of 1.51.
The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.27%. Comerica’s payout ratio is 29.06%.
In related news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Comerica by 12,425.0% in the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after purchasing an additional 2,047,881 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after acquiring an additional 1,681,640 shares during the last quarter. Vanguard Group Inc. raised its stake in Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after acquiring an additional 1,142,275 shares during the last quarter. State Street Corp raised its stake in Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after acquiring an additional 1,010,965 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Comerica by 132.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after acquiring an additional 965,041 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.
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Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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