Comerica Incorporated (CMA) to Post Q4 2018 Earnings of $1.95 Per Share, Jefferies Financial Group Forecasts

Comerica Incorporated (NYSE:CMA) – Jefferies Financial Group increased their Q4 2018 earnings per share estimates for Comerica in a research report issued to clients and investors on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.95 per share for the quarter, up from their previous estimate of $1.90. Jefferies Financial Group also issued estimates for Comerica’s Q1 2019 earnings at $1.91 EPS and FY2019 earnings at $8.20 EPS.

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

CMA has been the subject of several other research reports. ValuEngine lowered Comerica from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 13th. Morgan Stanley decreased their target price on Comerica from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, December 11th. Macquarie lowered Comerica from a “neutral” rating to an “underperform” rating in a research report on Tuesday, November 27th. BMO Capital Markets decreased their target price on Comerica from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, October 17th. Finally, SunTrust Banks decreased their target price on Comerica to $91.00 and set a “hold” rating for the company in a research report on Wednesday, October 17th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $98.09.

NYSE CMA opened at $73.31 on Friday. Comerica has a fifty-two week low of $63.69 and a fifty-two week high of $102.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38.

A number of hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC increased its position in Comerica by 94.9% during the 4th quarter. Cerebellum GP LLC now owns 3,700 shares of the financial services provider’s stock valued at $254,000 after buying an additional 1,802 shares in the last quarter. Highwater Wealth Management LLC bought a new position in Comerica during the 4th quarter valued at approximately $32,000. Moody National Bank Trust Division increased its position in Comerica by 0.9% during the 4th quarter. Moody National Bank Trust Division now owns 22,198 shares of the financial services provider’s stock valued at $1,524,000 after buying an additional 198 shares in the last quarter. Csenge Advisory Group bought a new position in Comerica during the 3rd quarter valued at approximately $39,000. Finally, Vanguard Group Inc increased its position in Comerica by 3.5% during the 3rd quarter. Vanguard Group Inc now owns 18,993,812 shares of the financial services provider’s stock valued at $1,713,241,000 after buying an additional 634,716 shares in the last quarter. 84.55% of the stock is owned by institutional investors.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Friday, December 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Thursday, December 13th. Comerica’s dividend payout ratio (DPR) 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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