Media coverage about Comerica (NYSE:CMA) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Comerica earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave news headlines about the financial services provider an impact score of 45.9460897884206 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the news headlines that may have effected Accern’s rankings:
- Jefferies Group Analysts Lift Earnings Estimates for Comerica Incorporated (CMA) (americanbankingnews.com)
- Comerica Incorporated (CMA) Scheduled to Post Earnings on Tuesday (americanbankingnews.com)
- Comerica Inc. (NYSE: CMA) technicals should not be ignored – Argus Journal (argusjournal.com)
- Comerica Incorporated (CMA) Stock Rating Reaffirmed by Citigroup Inc. (americanbankingnews.com)
- Comerica Incorporated (CMA) Expected to Post Earnings of $1.19 Per Share (americanbankingnews.com)
CMA has been the subject of a number of analyst reports. FBR & Co set a $79.00 target price on shares of Comerica and gave the company a “buy” rating in a research note on Tuesday, July 18th. Stephens reissued a “buy” rating and issued a $80.00 price target on shares of Comerica in a research report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and issued a $81.00 price target on shares of Comerica in a research report on Friday, July 14th. BidaskClub lowered shares of Comerica from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $78.00 price target on shares of Comerica in a research report on Friday, June 16th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average target price of $76.32.
Comerica (NYSE CMA) opened at 76.95 on Wednesday. Comerica has a 52-week low of $47.12 and a 52-week high of $77.95. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 19.22 and a beta of 1.51. The stock has a 50 day moving average of $71.46 and a 200-day moving average of $71.10.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.06 by $0.07. The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $777.08 million. Comerica had a return on equity of 9.60% and a net margin of 23.22%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, analysts forecast that Comerica will post $4.62 EPS for the current year.
Comerica announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $605.00 million in shares. This buyback authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were issued a dividend of $0.30 per share. This is an increase from Comerica’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 14th. This represents a $1.20 annualized dividend and a yield of 1.56%. Comerica’s dividend payout ratio (DPR) is currently 30.00%.
In other Comerica news, insider Judith S. Love sold 21,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $69.74, for a total transaction of $1,464,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul R. Obermeyer sold 20,321 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $70.24, for a total value of $1,427,347.04. The disclosure for this sale can be found here. Insiders have sold a total of 44,249 shares of company stock valued at $3,095,383 in the last ninety days. Insiders own 1.10% of the company’s stock.
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Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including 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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