Comerica Incorporated to Post FY2017 Earnings of $4.85 Per Share, Jefferies Group Forecasts (CMA)

Comerica Incorporated (NYSE:CMA) – Research analysts at Jefferies Group issued their FY2017 earnings estimates for shares of Comerica in a research report issued on Tuesday. Jefferies Group analyst K. Usdin anticipates that the financial services provider will post earnings of $4.85 per share for the year. Jefferies Group currently has a “Buy” rating and a $81.00 target price on the stock. Jefferies Group also issued estimates for Comerica’s Q1 2018 earnings at $1.45 EPS, Q2 2018 earnings at $1.53 EPS, Q3 2018 earnings at $1.60 EPS and Q4 2018 earnings at $1.63 EPS.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The company had revenue of $821.00 million for the quarter, compared to analyst estimates of $812.83 million. During the same quarter in the prior year, the business posted $0.84 EPS.

CMA has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $101.00 price objective on shares of Comerica in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Nomura upped their price objective on shares of Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Citigroup reaffirmed a “sell” rating and set a $69.00 price objective (up from $65.00) on shares of Comerica in a report on Monday, October 9th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $80.00 price objective (up from $78.00) on shares of Comerica in a report on Saturday, September 16th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $87.07.

Shares of Comerica (CMA) opened at $93.04 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $16,180.00, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.81 and a beta of 1.50. Comerica has a 1-year low of $64.04 and a 1-year high of $93.54.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, December 14th. Comerica’s payout ratio is 27.21%.

In other news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in CMA. Janus Henderson Group PLC increased its position in shares of Comerica by 12,425.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock worth $151,194,000 after purchasing an additional 2,047,881 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares in the last quarter. State Street Corp increased its position in shares of Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Comerica by 132.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after purchasing an additional 965,041 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Comerica (NYSE:CMA)

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