Equities analysts expect that Comerica Incorporated (NYSE:CMA) will report $1.45 earnings per share for the current quarter, Zacks reports. Seven analysts have made estimates for Comerica’s earnings. The highest EPS estimate is $1.51 and the lowest is $1.38. Comerica posted earnings per share of $1.11 during the same quarter last year, which would suggest a positive year over year growth rate of 30.6%. The business is scheduled to report its next earnings results on Tuesday, April 17th.
On average, analysts expect that Comerica will report full year earnings of $6.32 per share for the current fiscal year, with EPS estimates ranging from $6.05 to $6.58. For the next year, analysts anticipate that the company will report earnings of $7.10 per share, with EPS estimates ranging from $6.70 to $7.74. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Comerica.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Comerica had a return on equity of 10.94% and a net margin of 22.47%. The firm had revenue of $830.00 million for the quarter, compared to the consensus estimate of $819.30 million. During the same quarter in the prior year, the business earned $0.92 EPS.
Comerica (NYSE:CMA) traded down $2.55 during mid-day trading on Thursday, hitting $91.03. The company’s stock had a trading volume of 786,501 shares, compared to its average volume of 1,555,027. Comerica has a 1 year low of $64.04 and a 1 year high of $98.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $16,049.21, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.42 and a beta of 1.47.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be given a $0.30 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.32%. Comerica’s dividend payout ratio is currently 29.06%.
In related news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Peter William Guilfoile sold 1,052 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $97.00, for a total value of $102,044.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,811 shares of company stock worth $20,779,651. Insiders own 1.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CMA. Royal Bank of Canada lifted its position in Comerica by 13.7% in the 2nd quarter. Royal Bank of Canada now owns 289,992 shares of the financial services provider’s stock valued at $21,238,000 after acquiring an additional 34,975 shares in the last quarter. Macquarie Group Ltd. lifted its position in Comerica by 43.0% in the 2nd quarter. Macquarie Group Ltd. now owns 382,512 shares of the financial services provider’s stock valued at $28,015,000 after acquiring an additional 114,986 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Comerica by 37.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,596 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 2,892 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Comerica in the 2nd quarter valued at approximately $1,032,000. Finally, Toronto Dominion Bank lifted its position in Comerica by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 59,927 shares of the financial services provider’s stock valued at $4,388,000 after acquiring an additional 12,207 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.
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.
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