Comerica (CMA) Expected to Announce Earnings on Wednesday

Comerica (NYSE:CMA) is expected to be posting its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect Comerica to post earnings of $1.25 per share and revenue of $839,440.00 billion for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Comerica (NYSE:CMA) last issued its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter last year, the company posted $1.84 earnings per share. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Comerica Price Performance

NYSE CMA opened at $66.08 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 16.52 and a beta of 1.26. The business’s fifty day moving average price is $66.05 and its 200-day moving average price is $60.65.

Comerica announced that its board has approved a stock buyback plan on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.84 annualized dividend and a yield of 4.30%. Comerica’s payout ratio is 71.00%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their target price on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Morgan Stanley upped their price target on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Barclays increased their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Finally, StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Comerica has a consensus rating of “Hold” and a consensus price target of $67.71.

Insider Buying and Selling

In other news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total transaction of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This trade represents a 29.18 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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.