Comerica (NYSE:CMA) Releases Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Comerica (NYSE:CMA) announced its quarterly earnings results on Friday. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30, Briefing.com reports. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the prior year, the firm posted $2.01 earnings per share.

Comerica Price Performance

Shares of CMA stock opened at $49.60 on Monday. Comerica has a twelve month low of $37.40 and a twelve month high of $58.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $50.82 and a two-hundred day simple moving average of $51.72. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 9.96 and a beta of 1.25.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price objective on shares of Comerica in a research report on Monday, April 22nd. Jefferies Financial Group cut their price objective on Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 8th. The Goldman Sachs Group reduced their target price on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. UBS Group reduced their price objective on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Barclays dropped their target price on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $55.57.

Insider Activity

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

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.