B. Riley Comments on Comerica Incorporated’s Q1 2018 Earnings (CMA)

Comerica Incorporated (NYSE:CMA) – Research analysts at B. Riley cut their Q1 2018 earnings estimates for shares of Comerica in a note issued to investors on Tuesday. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $1.47 per share for the quarter, down from their prior estimate of $1.55. B. Riley currently has a “Buy” rating and a $84.00 target price on the stock. B. Riley also issued estimates for Comerica’s Q2 2018 earnings at $1.55 EPS, Q3 2018 earnings at $1.68 EPS, Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $6.40 EPS, Q1 2019 earnings at $1.71 EPS, Q2 2019 earnings at $1.78 EPS, Q3 2019 earnings at $1.85 EPS, Q4 2019 earnings at $1.90 EPS and FY2019 earnings at $7.25 EPS.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 11.07% and a net margin of 22.47%. The company had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. During the same quarter last year, the firm posted $0.92 EPS.

Several other research analysts also recently commented on the company. Piper Jaffray Companies upgraded Comerica to a “buy” rating and set a $98.00 target price for the company in a research note on Friday, December 8th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price on shares of Comerica in a research note on Wednesday, December 13th. DA Davidson restated a “hold” rating and issued a $100.00 target price on shares of Comerica in a research note on Wednesday. Deutsche Bank raised their target price on Comerica from $80.00 to $82.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks restated a “hold” rating and issued a $86.00 target price on shares of Comerica in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus price target of $92.37.

Shares of Comerica (NYSE:CMA) traded up $0.97 on Thursday, reaching $94.76. The company had a trading volume of 1,845,300 shares, compared to its average volume of 1,597,982. Comerica has a 52 week low of $64.04 and a 52 week high of $95.49. The stock has a market cap of $16,311.49, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.66 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Comerica by 11.4% during the 3rd quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock valued at $5,092,000 after acquiring an additional 6,843 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Comerica by 23.4% during the 3rd quarter. APG Asset Management N.V. now owns 93,210 shares of the financial services provider’s stock valued at $7,108,000 after acquiring an additional 17,700 shares during the last quarter. BlackRock Inc. boosted its position in shares of Comerica by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after acquiring an additional 51,426 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Comerica by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock worth $75,956,000 after buying an additional 31,136 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in Comerica in the 3rd quarter worth approximately $35,346,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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

The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. Comerica’s dividend payout ratio (DPR) is presently 29.06%.

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Comerica Company Profile

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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