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

Comerica (NYSE:CMA) issued its earnings results on Monday. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11, RTT News reports. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the business posted $1.29 EPS.

Comerica Stock Down 4.2 %

Shares of NYSE:CMA opened at $50.70 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $58.55 and its 200 day moving average is $62.87. The stock has a market cap of $6.65 billion, a P/E ratio of 10.10 and a beta of 0.96. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.60%. The ex-dividend date was Friday, March 14th. Comerica’s dividend payout ratio is presently 56.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMA. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $64.00 in a report on Monday, March 31st. DA Davidson lowered their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. 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 report on Wednesday, April 2nd. Morgan Stanley cut shares of Comerica from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $63.00 to $55.00 in a research note on Monday, April 7th. Finally, Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus target price of $68.16.

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.