We reported solid results in Sales & Trading and Advisory, and record revenues in Wealth Management, while managing expenses prudently. We are optimistic about opportunities in 2017 and beyond and remain focused on serving our clients and achieving our strategic objectives.” Comerica Inc. (NYSE: CMA ) Get Your Up-To-Date Comerica Research Report Click Here Comerica’s shares declined 6.51 percent to close at $65.37 a share Tuesday. The stock traded between $64.91 and $68.25 on volume of 3.75 million shares traded. The company reported net income attributable to common shareholders was $164 million in the fourth quarter of 2016, compared to $116 million in the fourth quarter of 2015. Earnings per share were $0.92 for the fourth quarter, compared to $0.64 a year ago. Average analysts’ estimates had called for earnings of $0.87 per share, according to Thomson Reuters I/B/E/S. Helped by recovery in oil prices the company has lowered provision for credit losses to $35 million from $60 million provisioned in the same quarter a year ago. “With oil prices stabilizing, we remain very comfortable with our energy portfolio and the level of reserves we have established,” Chief Executive Ralph Babb said in a statement on Tuesday. Research Driven Investing We are committed to providing relevant and actionable information for the self-directed investor.
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This quarter, online sales grew over 17% and represented 5.6% of overall sales [up from 5.1% in the third quarter of 2015]. Over 40% of our online orders are picked up in the store, which we view as a positive sign of our physical stores’ continued relevance with our customers.” In the background: rising home prices , which are encouraging owners to buff up their abode’s curb appeal. Borrowing costs have jumped post-election, which could weigh on future price gains, but inventory is tight, job creation remained healthy in December, and average hourly earnings increased 2.9% from a year ago — the biggest jump since the financial crisis. “Our customer is looking at his or her home and saying it’s worth more today than it was yesterday,” Home Depot Chief Financial Officer Carol Tome told TheStreet in November. “Since 2011, homeowners have had a 95% increase in the value of their equity either through rising home prices or the fact they have paid down a good bit of their mortgage — so their home has more value, there is a wealth effect, and they are using that to spend in our stores,” Tome added. Those factors should help Home Depot keep growing earnings (analysts forecast EPS of $7.16 a share in 2017, on average, up from a forecast $6.34 for full-year 2016). The average 12-month price target from analysts covering the stock-$147.50-would represent roughly 9% upside from today’s levels. So don’t lump Home Depot in with the retail industry’s laggards. It’s got everything it needs to hold off its web-based rivals and deliver steady gains and rising dividend payouts for years to come. — As we’ve just explained, Home Depot looks like a great buy now. And if you’re looking for other growth opportunities, we’ve found a genius trader who turned $50,000 into $5 million using a strategy he spent years perfecting.
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