Wall Street brokerages expect Comerica Incorporated (NYSE:CMA) to report $696.56 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Comerica’s earnings, with estimates ranging from $691.00 million to $705.35 million. Comerica posted sales of $842.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 17.3%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, October 20th.
On average, analysts expect that Comerica will report full year sales of $2.87 billion for the current fiscal year, with estimates ranging from $2.78 billion to $2.90 billion. For the next financial year, analysts forecast that the company will post sales of $2.78 billion, with estimates ranging from $2.67 billion to $2.89 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Comerica.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.59. The firm had revenue of $718.00 million for the quarter, compared to analyst estimates of $700.17 million. Comerica had a return on equity of 8.22% and a net margin of 17.42%. The business’s revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share.
Institutional investors and hedge funds have recently bought and sold shares of the stock. APG Asset Management N.V. increased its holdings in shares of Comerica by 461.5% during the 1st quarter. APG Asset Management N.V. now owns 911,910 shares of the financial services provider’s stock worth $59,546,000 after buying an additional 749,490 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of Comerica by 6.6% in the second quarter. New Mexico Educational Retirement Board now owns 9,664 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 600 shares in the last quarter. Busey Wealth Management purchased a new position in shares of Comerica in the 2nd quarter valued at $257,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Comerica in the 2nd quarter valued at $221,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Comerica by 29.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 176,006 shares of the financial services provider’s stock valued at $5,164,000 after acquiring an additional 40,508 shares in the last quarter. 78.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CMA traded down $1.51 during trading on Thursday, hitting $37.15. 2,174,036 shares of the company were exchanged, compared to its average volume of 2,269,318. The firm’s 50 day moving average price is $40.15 and its 200-day moving average price is $36.49. Comerica has a 12-month low of $24.28 and a 12-month high of $73.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $5.17 billion, a P/E ratio of 8.95, a PEG ratio of 12.68 and a beta of 1.81.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.68 dividend. The ex-dividend date is Monday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 7.32%. Comerica’s dividend payout ratio (DPR) is 34.83%.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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