Analysis of Comerica Incorporated (NYSE:CMA): Selected Notes

Comerica Incorporated (NYSE: CMA) closed the day trading at $43.50 up 2.26% from the previous closing price of $42.54. In other words, the price has increased by $+1.67 from its previous closing price. On the day, 14774435 shares were traded. CMA stock price reached its highest trading level at $50.03 during the session, while it also had its lowest trading level at $40.02.

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For a better understanding of CMA, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 0.93 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 29.63. In the meantime, Its Debt-to-Equity ratio is 0.63 whereas as Long-Term Debt/Eq ratio is at 0.63.

Upgrades & Downgrades

On February 15, 2023, Piper Sandler Downgraded its rating to Neutral which previously was Overweight and also upped its target price recommendation from $77 to $82.

Odeon Upgraded its Hold to Buy on January 10, 2023, while the target price for the stock was maintained at $76.36.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jan 31 when McKinney Cassandra M. sold 362 shares for $72.70 per share. The transaction valued at 26,316 led to the insider holds 6,250 shares of the business.

McKinney Cassandra M. sold 3,262 shares of CMA for $237,358 on Jan 27. The EVP now owns 6,825 shares after completing the transaction at $72.76 per share. On Nov 16, another insider, Bridges Wendy, who serves as the EVP of the company, sold 4,447 shares for $72.07 each. As a result, the insider received 320,495 and left with 12,187 shares of the company.

Valuation Measures:

As of this moment, Comerica’s Price-to-Earnings (P/E) ratio for their current fiscal year is 5.14, and their Forward P/E ratio for the next fiscal year is 4.43. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.25 while its Price-to-Book (P/B) ratio in mrq is 1.19.

Stock Price History:

Over the past 52 weeks, CMA has reached a high of $97.52, while it has fallen to a 52-week low of $29.17. The 50-Day Moving Average of the stock is 69.36, while the 200-Day Moving Average is calculated to be 73.39.

Shares Statistics:

Over the past 3-months, CMA traded about 2.02M shares per day on average, while over the past 10 days, CMA traded about 6.06M shares per day. A total of 131.00M shares are outstanding, with a floating share count of 130.17M. Insiders hold about 0.40% of the company’s shares, while institutions hold 84.90% stake in the company. Shares short for CMA as of Jan 30, 2023 were 3.22M with a Short Ratio of 3.17M, compared to 2.72M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.46% and a Short% of Float of 2.80%.

Dividends & Splits

CMA’s forward annual dividend rate is 2.84, up from 2.72 a year ago. Against a Trailing Annual Dividend Yield of 6.50%, it implies a Forward Annual Dividend Yield of 3.59%. The stock’s 5-year Average Dividend Yield is 3.74. The current Payout Ratio is 31.80% for CMA, which recently paid a dividend on Mar 31, 2023 with an ex-dividend date of Dec 13, 2022. Stock splits for the company last occurred on Apr 01, 1998 when the company split stock in a 3:2 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 18 analysts. On average, analysts expect EPS of $2.34 for the current quarter, with a high estimate of $2.49 and a low estimate of $1.88, while EPS last year was $1.37. The consensus estimate for the next quarter is $2.43, with high estimates of $2.57 and low estimates of $1.98.

Analysts are recommending an EPS of between $10.1 and $8.15 for the fiscal current year, implying an average EPS of $9.66. EPS for the following year is $9.89, with 19 analysts recommending between $10.65 and $8.93.

Revenue Estimates

12 analysts predict $973.88M in revenue for the current quarter. It ranges from a high estimate of $983.2M to a low estimate of $962M. As of the current estimate, Comerica Incorporated’s year-ago sales were $700M, an estimated increase of 39.10% from the year-ago figure. For the next quarter, 12 analysts are estimating revenue of $1B, an increase of 20.70% less than the figure of $39.10% in the same quarter last year. There is a high estimate of $1.01B for the next quarter, whereas the lowest estimate is $987.45M.

A total of 14 analysts have provided revenue estimates for CMA’s current fiscal year. The highest revenue estimate was $4.04B, while the lowest revenue estimate was $3.97B, resulting in an average revenue estimate of $4.01B. In the same quarter a year ago, actual revenue was $3.53B, up 13.50% from the average estimate. Based on 14 analysts’ estimates, the company’s revenue will be $4.07B in the next fiscal year. The high estimate is $4.15B and the low estimate is $3.97B. The average revenue growth estimate for next year is up 1.50% from the average revenue estimate for this year.