Piper Sandler Brokers Lower Earnings Estimates for Comerica Incorporated (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) – Research analysts at Piper Sandler decreased their Q4 2021 earnings per share (EPS) estimates for shares of Comerica in a note issued to investors on Monday, September 13th. Piper Sandler analyst R. Siefers now anticipates that the financial services provider will post earnings of $1.54 per share for the quarter, down from their prior forecast of $1.61. Piper Sandler also issued estimates for Comerica’s Q4 2022 earnings at $1.35 EPS, Q1 2023 earnings at $1.35 EPS, Q2 2023 earnings at $1.49 EPS and FY2023 earnings at $6.03 EPS.

Several other analysts also recently weighed in on CMA. Stephens reduced their target price on Comerica from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, August 6th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Tuesday, September 7th. Barclays upped their price objective on Comerica from $74.00 to $77.00 and gave the company an “underweight” rating in a research note on Thursday, July 22nd. Truist Securities reduced their price objective on Comerica from $100.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 22nd. Finally, B. Riley reduced their price objective on Comerica from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, July 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Comerica currently has an average rating of “Hold” and a consensus price target of $74.79.

Comerica stock opened at $71.51 on Tuesday. Comerica has a fifty-two week low of $35.76 and a fifty-two week high of $79.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $9.58 billion, a P/E ratio of 9.31, a PEG ratio of 0.34 and a beta of 1.59. The stock has a 50-day simple moving average of $70.90 and a 200-day simple moving average of $72.21.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, July 20th. The financial services provider reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.71. Comerica had a return on equity of 14.51% and a net margin of 37.02%. The business had revenue of $749.00 million during the quarter, compared to the consensus estimate of $723.09 million. During the same period in the previous year, the business earned $0.80 EPS.

A number of large investors have recently made changes to their positions in CMA. Factorial Partners LLC grew its holdings in Comerica by 6,812.7% during the 1st quarter. Factorial Partners LLC now owns 2,087,634 shares of the financial services provider’s stock valued at $29,100,000 after buying an additional 2,057,434 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Comerica by 1,892.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,062,293 shares of the financial services provider’s stock valued at $76,209,000 after buying an additional 1,008,980 shares during the last quarter. BlackRock Inc. grew its holdings in Comerica by 5.7% during the 1st quarter. BlackRock Inc. now owns 12,459,702 shares of the financial services provider’s stock valued at $893,859,000 after buying an additional 673,248 shares during the last quarter. Carlson Capital L P acquired a new stake in Comerica during the 1st quarter valued at $37,340,000. Finally, FIL Ltd lifted its stake in shares of Comerica by 8,150.5% during the 1st quarter. FIL Ltd now owns 525,473 shares of the financial services provider’s stock worth $37,697,000 after purchasing an additional 519,104 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Tuesday, September 14th. Comerica’s dividend payout ratio (DPR) is presently 83.18%.

Comerica Company Profile

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance and Other. The Commercial Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.

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Earnings History and Estimates for Comerica (NYSE:CMA)

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