Equities analysts forecast that Comerica Incorporated (NYSE:CMA) will post earnings per share (EPS) of $1.45 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Comerica’s earnings. The lowest EPS estimate is $1.38 and the highest is $1.51. Comerica reported earnings per share of $1.11 in the same quarter last year, which suggests a positive year-over-year growth rate of 30.6%. The company is expected to issue its next earnings results before the market opens on Tuesday, April 17th.
On average, analysts expect that Comerica will report full-year earnings of $6.32 per share for the current financial year, with EPS estimates ranging from $6.05 to $6.58. For the next year, analysts anticipate that the firm will post earnings of $7.11 per share, with EPS estimates ranging from $6.70 to $7.74. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Comerica.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 10.94% and a net margin of 22.47%. The business had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. During the same quarter in the prior year, the firm posted $0.92 EPS.
In related news, President Curtis C. Farmer sold 18,870 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $96.08, for a total value of $1,813,029.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph W. Babb, Jr. sold 61,500 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $94.02, for a total value of $5,782,230.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 272,006 shares of company stock valued at $26,250,992. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in Comerica in the 4th quarter valued at $275,000. Xact Kapitalforvaltning AB raised its stake in Comerica by 11.0% in the 4th quarter. Xact Kapitalforvaltning AB now owns 16,314 shares of the financial services provider’s stock valued at $1,416,000 after purchasing an additional 1,612 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Comerica by 6.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 18,956 shares of the financial services provider’s stock worth $1,643,000 after acquiring an additional 1,070 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Comerica by 1.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 102,293 shares of the financial services provider’s stock worth $8,880,000 after acquiring an additional 1,823 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Comerica by 38.2% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 12,664 shares of the financial services provider’s stock worth $1,099,000 after acquiring an additional 3,500 shares during the last quarter. 83.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Comerica (NYSE CMA) opened at $99.40 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica has a 52-week low of $64.04 and a 52-week high of $102.66. The company has a market capitalization of $17,423.04, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. Comerica’s dividend payout ratio (DPR) is 29.06%.
TRADEMARK VIOLATION WARNING: “Comerica Incorporated (CMA) Expected to Post Earnings of $1.45 Per Share” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/03/14/comerica-incorporated-cma-expected-to-post-earnings-of-1-45-per-share.html.
Comerica Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.