Comerica Incorporated (NYSE:CMA) – Jefferies Financial Group lowered their Q3 2019 EPS estimates for shares of Comerica in a research note issued on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $2.10 per share for the quarter, down from their prior estimate of $2.14. Jefferies Financial Group also issued estimates for Comerica’s Q4 2019 earnings at $2.18 EPS and FY2020 earnings at $8.45 EPS.
Several other analysts also recently issued reports on the company. Morgan Stanley reduced their price target on Comerica from $98.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday. Goldman Sachs Group downgraded Comerica from a “conviction-buy” rating to a “buy” rating in a research report on Monday. Argus began coverage on Comerica in a research report on Thursday, January 3rd. They set a “buy” rating and a $88.00 target price for the company. ValuEngine upgraded Comerica from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Barclays cut their target price on Comerica from $102.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $98.09.
Shares of NYSE CMA opened at $73.22 on Thursday. The company has a market cap of $11.56 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. Comerica has a 12 month low of $63.69 and a 12 month high of $102.66. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.82.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.05. Comerica had a return on equity of 14.41% and a net margin of 29.54%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. During the same period in the previous year, the company posted $1.26 EPS.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.28%. Comerica’s dividend payout ratio (DPR) is presently 50.74%.
Several institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division boosted its position in shares of Comerica by 0.9% during the 4th quarter. Moody National Bank Trust Division now owns 22,198 shares of the financial services provider’s stock valued at $1,524,000 after purchasing an additional 198 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in shares of Comerica during the 4th quarter valued at about $32,000. Csenge Advisory Group bought a new stake in shares of Comerica during the 3rd quarter valued at about $39,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Comerica by 4.7% during 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 in the last quarter. Finally, Advisor Partners LLC boosted its position in shares of Comerica by 7.3% during the 3rd quarter. Advisor Partners LLC now owns 9,662 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 658 shares in the last quarter. Institutional investors own 84.55% of the company’s stock.
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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