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

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

Comerica Trading Down 0.5 %

Shares of CMA traded down $0.25 during trading hours on Friday, reaching $53.12. The stock had a trading volume of 725,340 shares, compared to its average volume of 2,213,733. The firm has a 50-day moving average of $57.38 and a 200 day moving average of $62.65. 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 company has a market cap of $6.97 billion, a P/E ratio of 10.58 and a beta of 0.96. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.35%. Comerica's dividend payout ratio is 56.57%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMA. Keefe, Bruyette & Woods reduced their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday. Royal Bank of Canada cut their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday. Stephens downgraded Comerica from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Raymond James decreased their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.