Comerica (NYSE:CMA) Announces Earnings Results, Beats Estimates By $0.11 EPS

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

Comerica Stock Performance

Shares of CMA stock traded up $1.06 during trading hours on Thursday, hitting $53.37. The stock had a trading volume of 1,211,338 shares, compared to its average volume of 2,215,766. The stock's 50 day moving average is $57.68 and its 200 day moving average is $62.68. The firm has a market capitalization of $7.00 billion, a PE ratio of 10.63 and a beta of 0.96. Comerica has a twelve month low of $45.32 and a twelve month high of $73.45. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis 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 56.57%.

Wall Street Analysts Forecast Growth

CMA has been the subject of several recent analyst reports. Royal Bank of Canada cut their target price on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and cut their price objective for the stock from $64.00 to $52.00 in a research report on Tuesday. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price on the stock in a research report on Thursday, April 10th. Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Tuesday. Finally, Robert W. Baird decreased their price objective on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday. Five research 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.84.

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.