Earnings results for Comerica (NYSE:CMA)
Comerica Incorporated is expected* to report earnings on 07/21/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 10 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.62. The reported EPS for the same quarter last year was $0.8.
Comerica last released its quarterly earnings results on April 19th, 2021. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $1.06. The company earned $713 million during the quarter, compared to the consensus estimate of $722.96 million. Comerica has generated $3.27 earnings per share over the last year and currently has a price-to-earnings ratio of 10.7. Comerica has confirmed that its next quarterly earnings report will be published on Wednesday, July 21st, 2021. Comerica will be holding an earnings conference call on Wednesday, July 21st at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link.
Analyst Opinion on Comerica (NYSE:CMA)
17 Wall Street analysts have issued ratings and price targets for Comerica in the last 12 months. Their average twelve-month price target is $70.33, predicting that the stock has a possible upside of 7.10%. The high price target for CMA is $100.00 and the low price target for CMA is $32.70. There are currently 4 sell ratings, 6 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Hold.”
Comerica has received a consensus rating of Hold. The company’s average rating score is 2.18, and is based on 7 buy ratings, 6 hold ratings, and 4 sell ratings. According to analysts’ consensus price target of $70.33, Comerica has a forecasted upside of 7.1% from its current price of $65.66. Comerica has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Comerica (NYSE:CMA)
Comerica is a leading dividend payer. It pays a dividend yield of 4.28%, putting its dividend yield in the top 25% of dividend-paying stocks. Comerica has been increasing its dividend for 9 years. The dividend payout ratio of Comerica is 83.18%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Comerica will have a dividend payout ratio of 50.65% next year. This indicates that Comerica will be able to sustain or increase its dividend.
Insiders buying/selling: Comerica (NYSE:CMA)
In the past three months, Comerica insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $642,176.00 in company stock. Only 0.67% of the stock of Comerica is held by insiders. 78.38% of the stock of Comerica is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Comerica (NYSE:CMA
Earnings for Comerica are expected to decrease by -24.79% in the coming year, from $7.14 to $5.37 per share. The P/E ratio of Comerica is 10.66, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.22. The P/E ratio of Comerica is 10.66, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 13.59. Comerica has a PEG Ratio of 0.33. PEG Ratios below 1 indicate that a company could be undervalued. Comerica has a P/B Ratio of 1.19. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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