Piper Jaffray Companies Weighs in on Comerica Incorporated’s FY2018 Earnings (CMA)

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Comerica Incorporated (NYSE:CMA) – Stock analysts at Piper Jaffray Companies increased their FY2018 earnings per share (EPS) estimates for Comerica in a note issued to investors on Tuesday, October 16th. Piper Jaffray Companies analyst B. Rabatin now forecasts that the financial services provider will post earnings of $7.21 per share for the year, up from their prior forecast of $7.12. Piper Jaffray Companies also issued estimates for Comerica’s Q4 2018 earnings at $1.91 EPS.

Comerica (NYSE:CMA) last released its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.05. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. Comerica had a net margin of 29.54% and a return on equity of 14.41%. During the same quarter in the previous year, the firm earned $1.26 EPS.

Other equities research analysts also recently issued research reports about the stock. Bank of America set a $109.00 target price on shares of Comerica and gave the stock a “buy” rating in a research report on Wednesday, July 25th. B. Riley boosted their target price on shares of Comerica from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Wedbush boosted their target price on shares of Comerica from $111.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Stephens reissued a “buy” rating and issued a $108.00 target price on shares of Comerica in a research report on Tuesday, July 24th. Finally, Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $100.58.

CMA opened at $84.41 on Friday. The stock has a market capitalization of $14.58 billion, a PE ratio of 17.85, a P/E/G ratio of 0.61 and a beta of 1.42. Comerica has a 1-year low of $74.16 and a 1-year high of $102.66. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.82.

Institutional investors have recently bought and sold shares of the business. TCW Group Inc. lifted its stake in shares of Comerica by 1.3% in the 2nd quarter. TCW Group Inc. now owns 42,412 shares of the financial services provider’s stock worth $3,856,000 after acquiring an additional 536 shares during the period. Sigma Planning Corp lifted its stake in shares of Comerica by 14.2% in the 2nd quarter. Sigma Planning Corp now owns 4,569 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 569 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Comerica by 4.7% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,264 shares of the financial services provider’s stock worth $1,206,000 after acquiring an additional 600 shares during the period. Atlantic Trust Group LLC lifted its stake in shares of Comerica by 0.7% in the 1st quarter. Atlantic Trust Group LLC now owns 105,079 shares of the financial services provider’s stock worth $10,080,000 after acquiring an additional 693 shares during the period. Finally, Strs Ohio lifted its stake in shares of Comerica by 1.8% in the 3rd quarter. Strs Ohio now owns 39,675 shares of the financial services provider’s stock worth $3,578,000 after acquiring an additional 697 shares during the period. 81.36% of the stock is owned by hedge funds and other institutional investors.

In other Comerica news, EVP Christine M. Moore sold 4,800 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $98.41, for a total transaction of $472,368.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Comerica’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, September 13th. Comerica’s payout ratio is presently 50.74%.

Comerica Company Profile

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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Earnings History and Estimates for Comerica (NYSE:CMA)

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