|Bid||68.68 x 1000|
|Ask||68.52 x 800|
|Day's range||68.11 - 69.09|
|52-week range||58.54 - 88.96|
|Beta (5Y monthly)||1.56|
|PE ratio (TTM)||8.70|
|Forward dividend & yield||2.68 (3.90%)|
|1y target est||73.50|
Investor sentiment mixed on banks' Q4 earnings, with the major players displaying top-line strength aided by higher fee income and loan growth, partly muted by margin pressure and elevated expenses.
Comerica's (CMA) Q4 earnings are expected to have been affected by slowdown in commercial lending and interest rate cuts. Rise in card fees and controlled expenses might have lent support.
Though loan growth and lower expenses support First Horizon's (FHN) third-quarter 2019 performance, higher provisions and lower revenues pose headwinds.
Comerica (CMA) came out with earnings per share of $1.96, which easily surpassed the Zacks Consensus Estimate of $1.91 on higher fee income.
Comerica's (CMA) Q3 earnings are expected to have been impacted by slowdown in commercial lending and interest rate cuts. Yet, rise in card fees and controlled expenses might have lent support.
A U.S. judge on Monday dismissed a lawsuit in which Comerica Inc sought millions of dollars from Bombardier Inc after the Canadian aircraft maker could not find buyers for four planes whose leases had expired. U.S. District Judge Paul Gardephe in Manhattan, who had dismissed an earlier version of the lawsuit in July 2017, said Comerica was still unable to show that the planes had been returned to the lessor, which its contracts with Bombardier required before payment could be made. The amount sought was blacked out in the amended complaint.
The August job-growth report indicates addition of 130,000 jobs, down from the commendable July figures, which might impact the Fed officials' further course of action.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...