Analysts Anticipate Canadian Imperial Bank of Commerce (CM) Will Announce Earnings of $2.23 Per Share

Wall Street analysts forecast that Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will report earnings per share (EPS) of $2.23 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Canadian Imperial Bank of Commerce’s earnings, with the lowest EPS estimate coming in at $2.22 and the highest estimate coming in at $2.24. Canadian Imperial Bank of Commerce posted earnings of $2.10 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The firm is scheduled to report its next earnings results before the market opens on Thursday, August 23rd.

According to Zacks, analysts expect that Canadian Imperial Bank of Commerce will report full year earnings of $9.23 per share for the current year, with EPS estimates ranging from $9.14 to $9.33. For the next fiscal year, analysts anticipate that the company will report earnings of $9.67 per share, with EPS estimates ranging from $9.51 to $9.96. Zacks’ EPS averages are an average based on a survey of research analysts that follow Canadian Imperial Bank of Commerce.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Wednesday, May 23rd. The bank reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.74. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.38 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.55% and a net margin of 21.28%. Canadian Imperial Bank of Commerce’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $2.64 earnings per share.

Several equities analysts have commented on the company. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday. CIBC upgraded Canadian Imperial Bank of Commerce to a “buy” rating and increased their target price for the company from $125.00 to $130.00 in a research report on Wednesday, June 6th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, May 23rd. ValuEngine downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Royal Bank of Canada dropped their target price on Canadian Imperial Bank of Commerce from $141.00 to $135.00 and set a “sector perform” rating for the company in a research report on Thursday, May 24th. Three analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $118.78.

Canadian Imperial Bank of Commerce stock traded up $0.72 during trading hours on Friday, hitting $91.84. The stock had a trading volume of 8,551 shares, compared to its average volume of 338,021. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $40.25 billion, a PE ratio of 10.33, a P/E/G ratio of 1.62 and a beta of 1.15. Canadian Imperial Bank of Commerce has a one year low of $83.02 and a one year high of $100.01.

The company also recently announced a quarterly dividend, which was paid on Friday, July 27th. Shareholders of record on Thursday, June 28th were given a $1.036 dividend. The ex-dividend date of this dividend was Wednesday, June 27th. This represents a $4.14 annualized dividend and a yield of 4.51%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 46.23%.

A number of institutional investors have recently bought and sold shares of CM. WESPAC Advisors SoCal LLC raised its position in shares of Canadian Imperial Bank of Commerce by 1.1% during the second quarter. WESPAC Advisors SoCal LLC now owns 48,330 shares of the bank’s stock worth $4,200,000 after acquiring an additional 545 shares during the last quarter. First Allied Advisory Services Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 9.9% during the second quarter. First Allied Advisory Services Inc. now owns 6,320 shares of the bank’s stock worth $548,000 after acquiring an additional 571 shares during the last quarter. Comerica Securities Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 17.1% during the first quarter. Comerica Securities Inc. now owns 4,160 shares of the bank’s stock worth $372,000 after acquiring an additional 607 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 1.7% during the first quarter. Baird Financial Group Inc. now owns 39,334 shares of the bank’s stock worth $3,472,000 after acquiring an additional 658 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of Canadian Imperial Bank of Commerce by 20.6% during the first quarter. Grove Bank & Trust now owns 4,090 shares of the bank’s stock worth $361,000 after acquiring an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 44.81% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Earnings History and Estimates for Canadian Imperial Bank of Commerce (NYSE:CM)

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