Comerica (CMA) Scheduled to Post Earnings on Friday

Comerica (NYSE:CMA) will issue its quarterly earnings data before the market opens on Friday, October 18th. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same period in the prior year, the company posted $2.01 EPS. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Comerica Stock Up 0.8 %

Shares of NYSE:CMA opened at $62.34 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 12.39 and a beta of 1.23. The company has a 50 day moving average of $57.50 and a 200-day moving average of $53.63. Comerica has a one year low of $37.40 and a one year high of $63.20.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Friday, September 13th. Comerica’s payout ratio is 56.46%.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. DA Davidson reiterated a “neutral” rating and set a $55.00 target price on shares of Comerica in a report on Tuesday, September 10th. Truist Financial increased their price target on Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, September 20th. The Goldman Sachs Group lifted their price objective on Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Piper Sandler increased their target price on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.62.

Insider Activity

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.