Trading Report: The FY2016 Earnings Forecast for Comerica Inc. Issued By Jefferies Group (CMA)

The FY2016 Earnings Forecast for Comerica Inc. Issued By Jefferies Group (CMA)

Comerica Inc. (NYSE:CMA) – Research analysts at Jefferies Group dropped their FY2016 earnings estimates for shares of Comerica in a research note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the brokerage will earn $2.75 per share for the year, down from their previous estimate of $2.76. Jefferies Group also issued estimates for Comerica’s Q4 2016 earnings at $0.86 EPS and FY2017 earnings at $3.60 EPS.

Comerica (NYSE:CMA) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%.

Other equities research analysts have also issued reports about the company. Nomura reiterated a “hold” rating on shares of Comerica in a research note on Saturday, July 9th. Barclays PLC reissued a “sell” rating on shares of Comerica in a report on Saturday, July 9th. Leerink Swann reissued a “buy” rating on shares of Comerica in a report on Sunday, July 17th. JPMorgan Chase & Co. reduced their target price on Comerica from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Finally, Zacks Investment Research raised Comerica from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. Comerica presently has an average rating of “Hold” and a consensus target price of $45.04.

Shares of Comerica (NYSE:CMA) traded up 1.117% during trading on Friday, hitting $48.445. The company had a trading volume of 948,779 shares. The stock has a market cap of $8.42 billion, a PE ratio of 21.036 and a beta of 1.36. The firm has a 50 day moving average of $47.18 and a 200 day moving average of $44.11. Comerica has a 12-month low of $30.48 and a 12-month high of $49.75.

A number of large investors have recently modified their holdings of CMA. Vanguard Group Inc. increased its stake in shares of Comerica by 2.2% in the second quarter. Vanguard Group Inc. now owns 15,324,597 shares of the financial services provider’s stock valued at $630,300,000 after buying an additional 332,956 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Comerica by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,530,902 shares of the financial services provider’s stock valued at $171,585,000 after buying an additional 35,025 shares during the period. American Century Companies Inc. increased its stake in shares of Comerica by 4.8% in the second quarter. American Century Companies Inc. now owns 3,883,718 shares of the financial services provider’s stock valued at $159,737,000 after buying an additional 176,177 shares during the period. King Luther Capital Management Corp increased its stake in shares of Comerica by 2.9% in the second quarter. King Luther Capital Management Corp now owns 2,958,629 shares of the financial services provider’s stock valued at $121,688,000 after buying an additional 83,150 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Comerica by 1.0% in the second quarter. BlackRock Fund Advisors now owns 2,904,438 shares of the financial services provider’s stock valued at $119,460,000 after buying an additional 28,125 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

In other news, insider Paul R. Obermeyer sold 2,302 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $45.92, for a total transaction of $105,707.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, September 13th. Comerica’s dividend payout ratio is currently 38.82%.

About Comerica

Related posts

Leave a Comment