Comerica (NYSE:CMA) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Comerica (NYSE:CMA - Get Free Report) posted its quarterly earnings results on Monday. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11, RTT News reports. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company posted $1.29 earnings per share.

Comerica Trading Up 2.0 %

NYSE CMA traded up $1.06 during trading hours on Thursday, reaching $53.37. The company's stock had a trading volume of 1,211,338 shares, compared to its average volume of 2,215,766. The firm has a fifty day simple moving average of $57.68 and a 200-day simple moving average of $62.68. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a market cap of $7.00 billion, a P/E ratio of 10.63 and a beta of 0.96.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio (DPR) is currently 56.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CMA shares. The Goldman Sachs Group reduced their target price on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research note on Tuesday. Raymond James dropped their price objective on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Argus upgraded shares of Comerica to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. downgraded shares of Comerica from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $64.00 to $52.00 in a report on Tuesday. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $62.84.

About Comerica

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.