Brokerages expect Comerica Incorporated (NYSE:CMA) to post earnings of $1.77 per share for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Comerica’s earnings, with the lowest EPS estimate coming in at $1.72 and the highest estimate coming in at $1.83. Comerica posted earnings per share of $1.26 during the same quarter last year, which suggests a positive year-over-year growth rate of 40.5%. The business is scheduled to report its next quarterly earnings report before the market opens on Tuesday, October 16th.

According to Zacks, analysts expect that Comerica will report full year earnings of $7.06 per share for the current year, with EPS estimates ranging from $6.94 to $7.16. For the next year, analysts forecast that the company will report earnings of $7.97 per share, with EPS estimates ranging from $7.65 to $8.54. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Comerica.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.26. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $833.59 million. Comerica had a return on equity of 13.14% and a net margin of 27.28%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS.

Several equities research analysts recently issued reports on the company. Wells Fargo & Co boosted their price objective on Comerica from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Thursday, June 14th. Royal Bank of Canada reiterated a “buy” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Comerica in a report on Tuesday, July 17th. Wedbush boosted their price objective on Comerica from $111.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Bank of America set a $109.00 price objective on Comerica and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Tuesday, June 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $101.34.

Shares of CMA stock traded down $0.68 on Friday, hitting $92.04. The stock had a trading volume of 816,485 shares, compared to its average volume of 1,582,132. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $15.46 billion, a PE ratio of 19.46, a P/E/G ratio of 0.56 and a beta of 1.42. Comerica has a 1 year low of $74.16 and a 1 year high of $102.66.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Comerica’s previous quarterly dividend of $0.34. Comerica’s dividend payout ratio is presently 50.74%.

In other news, EVP Christine M. Moore sold 4,800 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $98.41, for a total value of $472,368.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. increased its holdings in shares of Comerica by 8.7% in the 1st quarter. First Republic Investment Management Inc. now owns 6,581 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 528 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Comerica by 1.3% in the 2nd quarter. TCW Group Inc. now owns 42,412 shares of the financial services provider’s stock valued at $3,856,000 after acquiring an additional 536 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Comerica by 14.2% in the 2nd quarter. Sigma Planning Corp now owns 4,569 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 569 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its position in shares of Comerica by 47.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,855 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 594 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Comerica by 4.7% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,264 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 81.32% of the company’s stock.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers 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 services to middle market businesses, multinational corporations, and governmental entities.

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Earnings History and Estimates for Comerica (NYSE:CMA)

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