Comerica (CMA) Posts Earnings Results, Misses Estimates By $0.02 EPS

Comerica (NYSE:CMA) announced its earnings results on Tuesday. The financial services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02), Bloomberg Earnings reports. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same period in the prior year, the company posted $1.11 EPS.

CMA stock opened at $92.74 on Wednesday. Comerica has a fifty-two week low of $64.04 and a fifty-two week high of $102.66. 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 capitalization of $16,609.09, a price-to-earnings ratio of 19.61, a PEG ratio of 1.42 and a beta of 1.38.

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The company also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, March 14th. Comerica’s dividend payout ratio is 25.37%.

In other Comerica news, President Curtis C. Farmer sold 18,870 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $96.08, for a total value of $1,813,029.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael T. Ritchie sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.45, for a total value of $397,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 272,006 shares of company stock worth $26,250,992. 0.83% of the stock is owned by corporate insiders.

A number of brokerages recently commented on CMA. BMO Capital Markets decreased their target price on Comerica from $109.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday. Wedbush set a $111.00 target price on Comerica and gave the company a “buy” rating in a report on Wednesday. Susquehanna Bancshares set a $99.00 target price on Comerica and gave the company a “hold” rating in a report on Tuesday, April 10th. Zacks Investment Research upgraded Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 target price for the company in a report on Wednesday, January 10th. Finally, ValuEngine upgraded Comerica from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $91.90.

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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.

Earnings History for Comerica (NYSE:CMA)

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