Comerica Incorporated (NYSE:CMA) financial products and services provider, is expected to report second quarter earnings results, before market open, on Tuesday 21st July 2020.
Analysts polled by Thomson Reuters anticipate second quarter income of $ 0.21 per share.
Looking ahead, the full year income are expected at $ 1.10 per share on the revenues of $ 2867.33 million.
Previous Quarter Performance
Comerica Incorporated came out with loss for the first quarter of $ 0.46 per share, from the revenue of $ 750.00 million. The quarterly revenues contracted 12.26 percent compared with the same quarter last year. Wall street analysts are predicting, CMA to report 1Q20 income of $ 0.95 per share from revenue of $ 759.31 million. The bottom line results missed street analysts by $ 1.41 or 148.42 percent, at the same time, top line results fell short of analysts by $ 9.31 million or 1.23 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of CMA was $ 34.93, representing a 43.86 % increase from the 52 week low of $ 24.28 and a 52.83 % decrease over the 52 week high of $ 74.05.
The company has a market capital of $ 4.86 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 10th July 2020, maintained by Bank of America at Underperform rating, with $ 45.00 target price.
On 10th July 2020, upgraded by Robert W. Baird to Outperform from Neutral rating.
On 11th June 2020, maintained by SunTrust Robinson Humphrey at Hold rating, with $ 46.00 target price.
On 10th June 2020, maintained by RBC Capital at Outperform rating, with $ 52.00 target price.
On 9th June 2020, upgraded by Wedbush to Outperform from Neutral rating.
Recent Stock Dividend Announcement
On April 28, 2020, the board of directors authorized quarterly dividend of $ 0.68 per share to holders of record as of the close of business on June 15, 2020, with payment date of July 1, 2020 and ex-dividend date on June 12, 2020.
Conference Call
Comerica Incorporated will be hosting a conference call at 8:00 AM eastern time on 21st July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website edge.media-server.com/mmc/p/2j5ms3cd
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.
