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Odeon Capital Group has upgraded Comerica (NYSE:CMA).

Odeon Capital Group has upgraded Comerica (NYSE:CMA).

A research report that was published on Tuesday by Odeon Capital Group indicated that the firm’s stock analysts had changed their recommendation for Comerica (NYSE: CMA) from “hold” to “buy,” as reported by Briefing.com. In addition, the company has concluded that a target price of $76.36 per share is appropriate for the financial services provider’s stock. According to the price target determined by Odeon Capital Group, there is the potential for an increase in price that would be 14.29% higher than the price at which the stock is currently trading.

CMA data has only recently become accessible to customers of several new brokerages, which began offering the service not too long ago. In a research note published on Tuesday, December 20, DA Davidson raised their price objective for Comerica from $78.0 to $80.00 and upgraded the company from a “neutral” rating to a “buy.” Both of these upgrades were made to the company’s stock. They explained their choice by stating that it was derived from their situation evaluation. In a research note published on Thursday, October 20, Stephens lowered their “overweight” rating on the Comerica stock and lowered their price target from $100 to $93. Both of these changes were made in response to recent market events. Argus upgraded Comerica from a “hold” level to a “buy” level in a research report published on October 20. They also established a price objective of $87.00 for the company. Finally, JPMorgan Chase & Co. lowered their target price on Comerica shares from $80.00 to $72.00 and rated the stock as “overweight” in a research note published on Tuesday, December 13.

Last but not least, Keefe, Bruyette & Woods lowered their price objective for Comerica from $105.00 to $80.00 on Monday, December 12, and downgraded the company from “outperform” to “market perform.” In addition, one of the analysts following the company recommended the stock to sell, while another five have maintained a hold rating, and sixteen have maintained a buy rating. According to Bloomberg.com, the stock is presently rated as having an average rating of “Moderate Buy,” and the average price target is $83.70.

The NYSE CMA opened for trading on Tuesday with an opening price of $66.81. This company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-to-growth ratio (PEG) ratio of 1.74, and a beta coefficient of 1.18. These metrics indicate that the company is relatively expensive relative to its earnings. The current, quick, and debt-to-equity ratios all come in at 0.85, while the debt-to-equity ratio sits at 0.65. The all-time high for Comerica over the past year is $102.09, and the all-time low for Comerica over the past year is $62.83. The simple moving average of the company’s stock price over the past 50 days is $68.25, and the average over the last 200 days is $73.78.

On Wednesday, October 19, 2018, Comerica (NYSE: CMA) released the most recent quarterly results report that it had produced. The company that provides financial services had total quarterly earnings per share of $2.60, which was $0.03 more than the average expectation of $2.57. In addition, the revenue for the quarter came in at $985.00 million, which was greater than the $966.20 million that analysts had anticipated the revenue would be. The return on equity for Comerica was 16.56 percent, while the net margin for the company was 30.73 percent. Compared to the current year, the company had earnings of $1.90 per share during the same period the year before. The current fiscal year of Comerica is expected to result in earnings of $8.47 per share for the company, according to projections made by market analysts.

As a result of recent happenings, several large investors have altered the proportion of the company’s stock they currently hold in their portfolios. During the third quarter of this fiscal year, Vanguard Group Inc. increased the percentage of Comerica stock owned by 1.4%. Vanguard Group Inc. now owns 16,248,885 stock held by the financial services provider after making an additional purchase of 221,824 shares during the most recent quarter. These shares are currently worth a total of $1,155,296,000 as of right now. During the third quarter, State Street Corporation completed a 3.9% increase in the Comerica stock held in its portfolio. Following the acquisition of an additional 284,884 shares during the most recent quarter, State Street Corp. now has a total of 7,675,947 shares of ownership in the business. The current market value of the business is $550,764,000. During the second quarter, FMR LLC achieved a 7.3% increase in the proportion of Comerica stock it owned. FMR LLC now holds a total of 3,990,336 shares of the financial services provider’s stock, which have a value of $292,811,000 thanks to the acquisition of an additional 270,869 shares during the period in question. Charles Schwab Investment Management Inc. increased the amount of Comerica stock owned by 5.5% during the first three months of 2018. Charles Schwab Investment Management Inc. now has a total of 2,492,892 shares of the financial services provider’s stock, which are worth a combined total of $225,433,000 after purchasing an additional 129,042 shares during the preceding quarter. This brings the company’s total number of shares to 2,492,892 shares. And as if that weren’t enough, during the third quarter, Marshall Wace LLP boosted the amount of Comerica stock owned by 12.7%, making it the final point. Marshall Wace LLP increased its holdings in the financial services provider’s stock by purchasing an additional 267,593 shares during the most recent quarter, bringing its total number of shares to 2,377,028. The value of these shares on the market as of right now is $169,008,000. Institutional investors and hedge funds collectively own 81.91% of the total number of shares issued by the company. These types of investors are known as “large shareholders.”

Because it has several different subsidiaries, Comerica Incorporated can provide its customers with diverse financial products and services. The company conducts its daily operations through the following business divisions: commercial banking, retail banking, wealth management, and finance. The Commercial Bank division provides small and middle-market businesses, multinational corporations, and governmental entities with commercial loans and lines of credit, deposits, cash management, capital market products, international trade financing, letters of credit, foreign exchange management services, and loan syndication services. These products and services are under the heading “Commercial Banking.”

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