ValuEngine Upgrades Comerica (NYSE:CMA) to Sell

Comerica (NYSE:CMA) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday, September 4th, ValuEngine reports.

CMA has been the subject of several other reports. B. Riley set a $75.00 target price on Comerica and gave the company a “hold” rating in a research note on Thursday, July 11th. Citigroup cut Comerica from a “neutral” rating to a “sell” rating and lowered their target price for the company from $80.00 to $66.00 in a research note on Friday, July 12th. Goldman Sachs Group cut Comerica from a “neutral” rating to a “sell” rating and set a $70.00 target price for the company. in a research note on Tuesday, July 2nd. Piper Jaffray Companies set a $91.00 price target on Comerica and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Wedbush reduced their target price on Comerica from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $81.48.

Shares of CMA traded up $0.63 during mid-day trading on Wednesday, reaching $65.39. The company had a trading volume of 38,196 shares, compared to its average volume of 1,752,667. Comerica has a twelve month low of $58.54 and a twelve month high of $95.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $63.98 and its 200-day moving average is $72.64. The company has a market capitalization of $9.57 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.57 and a beta of 1.52.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). Comerica had a net margin of 33.29% and a return on equity of 16.92%. The business had revenue of $853.00 million for the quarter, compared to analyst estimates of $859.09 million. During the same period in the prior year, the business earned $1.87 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts expect that Comerica will post 7.85 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CMA. American Century Companies Inc. boosted its position in shares of Comerica by 166.2% during the 1st quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock worth $262,602,000 after purchasing an additional 2,236,331 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Comerica by 9,489.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,601,235 shares of the financial services provider’s stock worth $116,313,000 after buying an additional 1,584,537 shares in the last quarter. Invesco Ltd. lifted its position in shares of Comerica by 62.1% during the 2nd quarter. Invesco Ltd. now owns 2,745,769 shares of the financial services provider’s stock worth $199,452,000 after buying an additional 1,051,819 shares in the last quarter. AJO LP bought a new position in shares of Comerica during the 1st quarter worth approximately $60,749,000. Finally, Vanguard Group Inc. lifted its position in shares of Comerica by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,414,199 shares of the financial services provider’s stock worth $1,410,248,000 after buying an additional 293,069 shares in the last quarter. 86.56% of the stock is currently owned by institutional investors.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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Analyst Recommendations for Comerica (NYSE:CMA)

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