Moore Christine M sold 4,800 shares in Comerica Incorporated (NYSE:CMA) for $13,931 in transaction occurred on 2018/08/02. After making this transaction, the EVP and General Auditor owns a direct stake of 472,368 shares, worth $1,046,915, as per the last closing price. On 2018/05/15 Babb Ralph W Jr, Chairman & CEO at CMA, dumped 21,400 shares at an average price of $98.56 per share. The selling total is valued at $48,266,215.
Separately, it had been reported that some other CMA insiders also took part of the insider trading activity. Executive Vice President, Guilfoile Peter William had divested 1,100 shares for $13,997 through a trade on 2018/05/15. Following this activity, the insider holds 108,537 shares worth $1,051,875 as of recent close. Wall Street’s most bullish Comerica Incorporated (NYSE:CMA) analysts are predicting the share price to blow past $110 per share during the next 12 months. The current median share price forecast by them is $100, suggesting that the stock could increase 33.07% in that time frame. The average price target of $98.36 calls for a nearly 30.88% increase in the stock price.
Comerica Incorporated (CMA) trading activity significantly improved as the volume at ready counter increased to 3,219,038 shares versus 2,119,045 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 1,684,887 shares. The share price dropped -1.64% in recent trade and currently has a stock-market value of $12.12B. The shares finished at $75.15, after trading as low as $73.51 earlier in the session. It hit an intraday high Thursday at $75.24. The stock is now -1.08% above against its bear-market low of $75.97 on December 06, 2018. It has retreated -36.61% since it’s 52-week high of $102.66 reached in March. Now the market price is down -10.47% on the year and down -13.43% YTD.
CMA’s 50 day simple moving average (SMA 50) price is $83.56 and its 200-day simple moving average (SMA 200) price is $92.97. The company’s stock currently has a total float of 160.25M shares. Its weekly volatility is hovering around 2.74% and felt 2.53% volatility in price over a month. On the upside, the share price will test short term resistance at around $75.76. On a downside, the stock is likely to find some support, which begins at $74.03. The failure to get near-term support could push it to $72.9.
It had seen a negative analyst call from Macquarie, which downgraded the stock from Neutral to Underperform on November 27. Analysts at Nomura, shed their positive views on November 13 by lowering it fromBuy to Neutral. The stock won favor of Morgan Stanley analysts who expressed their confidence in it using an upgrade from Equal-Weight to Overweight on November 12.
When looking at valuations, Comerica Incorporated (CMA) has a cheap P/E of 11.53x as compared to industry average of 19.02x. Moreover, it trades for 9.37 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.61x price/book and 4.86x price/sales. Compared to others, Comerica Incorporated is in a different league with regards to profitability, having net margins of 41.4%. To put some perspective around this, the industry’s average net margin is 29.87%. CMA’s ROE is 13%, which is also considerably worse than the industry’s ROE of 16.14%.
Shares of Comerica Incorporated (CMA) have dropped -8.5% since the company’s last earnings report. Over the past 12 fiscal quarters, Comerica Incorporated (NYSE:CMA) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 2 quarters (16%), whereas at 0 occasion EPS met analyst expectations. CMA last reported earnings on October 16, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $1.95 per share, -81.88% change on the same period last year. That was better than consensus for $1.76. Revenue for the recent quarter stood at $853 million, up 4% on last year and above the $852.4 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $858.8 million to $871 million, which should be compared with $868.15 million generated last year. EPS is seen in a range of $1.75 to $1.9, against the $1.4 reported a year ago.