Jefferies Financial Group Comments on Comerica Incorporated’s Q3 2019 Earnings (NYSE:CMA)
Comerica Incorporated (NYSE:CMA) – Analysts at Jefferies Financial Group cut their Q3 2019 earnings per share (EPS) estimates for Comerica in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will earn $1.99 per share for the quarter, down from their previous forecast of $2.06. Jefferies Financial Group currently has a “Hold” rating and a $84.00 target price on the stock. Jefferies Financial Group also issued estimates for Comerica’s Q4 2019 earnings at $2.03 EPS and FY2020 earnings at $8.10 EPS.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.15. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $852.88 million. Comerica had a return on equity of 16.95% and a net margin of 34.75%. Comerica’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 earnings per share.
CMA opened at $72.84 on Thursday. The company has a market capitalization of $11.02 billion, a PE ratio of 10.06, a PEG ratio of 1.25 and a beta of 1.44. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. Comerica has a 1 year low of $63.69 and a 1 year high of $100.64. The company’s 50 day moving average price is $71.03.
Hedge funds have recently made changes to their positions in the company. Trust Department MB Financial Bank N A lifted its stake in shares of Comerica by 64.3% during the first quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Liberty Wealth Management LLC acquired a new position in shares of Comerica during the fourth quarter valued at $26,000. Claybrook Capital LLC acquired a new position in shares of Comerica during the fourth quarter valued at $29,000. CWM LLC lifted its stake in shares of Comerica by 247.5% during the first quarter. CWM LLC now owns 424 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 302 shares during the period. Finally, Zions Bancorporation N.A. acquired a new position in shares of Comerica during the first quarter valued at $35,000. Institutional investors own 83.43% of the company’s stock.
In other news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $73.49, for a total transaction of $235,168.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, June 13th. Comerica’s payout ratio is presently 37.02%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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