Comerica Incorporated (NYSE:CMA) – Investment analysts at Jefferies Financial Group decreased their FY2019 earnings per share estimates for shares of Comerica in a research report issued on Wednesday, October 16th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $7.69 per share for the year, down from their prior estimate of $7.85. Jefferies Financial Group also issued estimates for Comerica’s Q4 2019 earnings at $1.77 EPS, Q1 2020 earnings at $1.79 EPS, Q2 2020 earnings at $1.82 EPS, Q3 2020 earnings at $1.77 EPS, Q4 2020 earnings at $1.77 EPS, FY2020 earnings at $7.15 EPS, Q1 2021 earnings at $1.74 EPS, Q2 2021 earnings at $1.84 EPS, Q3 2021 earnings at $1.83 EPS and FY2021 earnings at $7.25 EPS.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. Comerica had a return on equity of 16.82% and a net margin of 32.11%. The company had revenue of $842.00 million during the quarter, compared to analyst estimates of $836.10 million. During the same quarter last year, the firm posted $1.86 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis.

A number of other analysts have also commented on CMA. Raymond James lowered Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, July 8th. DA Davidson dropped their price target on Comerica from $75.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Stephens reaffirmed a “hold” rating and issued a $72.00 price target on shares of Comerica in a research note on Wednesday, October 16th. ValuEngine raised Comerica from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, SunTrust Banks dropped their price target on Comerica from $75.00 to $67.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $75.50.

Shares of CMA stock opened at $65.51 on Monday. The stock has a fifty day moving average of $64.42 and a 200 day moving average of $69.60. Comerica has a 52 week low of $58.54 and a 52 week high of $88.96. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 0.59 and a beta of 1.53. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.02.

A number of institutional investors have recently made changes to their positions in CMA. Covington Capital Management lifted its position in Comerica by 88.5% during the second quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock valued at $30,000 after buying an additional 193 shares during the period. Cerebellum GP LLC purchased a new position in Comerica during the third quarter valued at $38,000. Creative Financial Designs Inc. ADV purchased a new position in Comerica during the second quarter valued at $51,000. CSat Investment Advisory L.P. lifted its position in Comerica by 170.5% during the second quarter. CSat Investment Advisory L.P. now owns 706 shares of the financial services provider’s stock valued at $52,000 after buying an additional 445 shares during the period. Finally, Kavar Capital Partners LLC purchased a new position in Comerica during the second quarter valued at $73,000. 86.28% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Comerica (NYSE:CMA)

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