Zacks: Brokerages Anticipate Comerica Incorporated (CMA) to Post $1.45 EPS

Brokerages predict that Comerica Incorporated (NYSE:CMA) will post earnings per share (EPS) of $1.45 for the current quarter, according to Zacks. Seven analysts have made estimates for Comerica’s earnings. The lowest EPS estimate is $1.38 and the highest is $1.51. Comerica reported earnings of $1.11 per share during the same quarter last year, which indicates a positive year over year growth rate of 30.6%. The company is scheduled to issue its next earnings results on Tuesday, April 17th.

On average, analysts expect that Comerica will report full year earnings of $6.32 per share for the current year, with EPS estimates ranging from $6.05 to $6.58. For the next year, analysts expect that the business will post earnings of $7.10 per share, with EPS estimates ranging from $6.70 to $7.74. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Comerica.

Comerica (NYSE:CMA) last announced its quarterly 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 net margin of 22.47% and a return on equity of 10.94%. The firm had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. During the same quarter last year, the firm earned $0.92 EPS.

CMA has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Monday, December 11th. Piper Jaffray Companies raised shares of Comerica to a “buy” rating and set a $98.00 price target for the company in a report on Friday, December 8th. B. Riley reaffirmed a “buy” rating and issued a $84.00 price target on shares of Comerica in a report on Monday, December 4th. FBR & Co reaffirmed a “buy” rating and issued a $84.00 price target (up previously from $79.00) on shares of Comerica in a report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $101.00 price target on shares of Comerica in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $92.37.

Shares of Comerica (CMA) traded down $2.55 during trading hours on Thursday, hitting $91.03. 786,501 shares of the company were exchanged, compared to its average volume of 1,555,027. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 1 year low of $64.04 and a 1 year high of $98.18. The company has a market cap of $16,049.21, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.42 and a beta of 1.47.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Wednesday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 29.06%.

In other news, CEO Ralph W. Babb, Jr. sold 65,300 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $97.61, for a total transaction of $6,373,933.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Curtis C. Farmer sold 18,870 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $96.08, for a total transaction of $1,813,029.60. The disclosure for this sale can be found here. Insiders sold a total of 218,811 shares of company stock worth $20,779,651 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of CMA. Royal Bank of Canada increased its position in shares of Comerica by 13.7% during the second quarter. Royal Bank of Canada now owns 289,992 shares of the financial services provider’s stock worth $21,238,000 after acquiring an additional 34,975 shares during the period. Macquarie Group Ltd. increased its position in shares of Comerica by 43.0% during the second quarter. Macquarie Group Ltd. now owns 382,512 shares of the financial services provider’s stock worth $28,015,000 after acquiring an additional 114,986 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Comerica by 37.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,596 shares of the financial services provider’s stock worth $776,000 after acquiring an additional 2,892 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Comerica during the second quarter worth approximately $1,032,000. Finally, Toronto Dominion Bank increased its holdings in Comerica by 25.6% during the second quarter. Toronto Dominion Bank now owns 59,927 shares of the financial services provider’s stock valued at $4,388,000 after buying an additional 12,207 shares during the period. 82.30% of the stock is currently owned by institutional investors and hedge funds.

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About Comerica

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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Earnings History and Estimates for Comerica (NYSE:CMA)

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