Canadian Imperial Bank of Commerce (CM) Forecasted to Post FY2020 Earnings of $10.03 Per Share

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Equities research analysts at Desjardins issued their FY2020 earnings per share estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Tuesday, November 6th. Desjardins analyst D. Young expects that the bank will post earnings of $10.03 per share for the year.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.86. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. During the same quarter last year, the firm earned $2.77 earnings per share.

Several other analysts also recently issued reports on CM. ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, TheStreet raised shares of Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $123.00.

Shares of NYSE CM opened at $87.82 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $38.62 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.63 and a beta of 1.18. Canadian Imperial Bank of Commerce has a 1 year low of $84.88 and a 1 year high of $100.01.

Several institutional investors have recently bought and sold shares of CM. Fulton Bank N.A. raised its stake in shares of Canadian Imperial Bank of Commerce by 9.6% during the second quarter. Fulton Bank N.A. now owns 20,314 shares of the bank’s stock valued at $1,766,000 after acquiring an additional 1,776 shares in the last quarter. Trust Co raised its stake in shares of Canadian Imperial Bank of Commerce by 21.0% during the first quarter. Trust Co now owns 4,527 shares of the bank’s stock valued at $400,000 after acquiring an additional 785 shares in the last quarter. Addenda Capital Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 93.7% during the second quarter. Addenda Capital Inc. now owns 92,100 shares of the bank’s stock valued at $8,161,000 after acquiring an additional 44,560 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $361,000. Finally, Townsend & Associates Inc raised its stake in shares of Canadian Imperial Bank of Commerce by 5.4% during the second quarter. Townsend & Associates Inc now owns 23,345 shares of the bank’s stock valued at $2,029,000 after acquiring an additional 1,205 shares in the last quarter. 46.34% of the stock is owned by hedge funds and other institutional investors.

The business also recently declared a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, September 28th were paid a dividend of $1.0412 per share. This represents a $4.16 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Thursday, September 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s payout ratio is currently 46.91%.

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.

Featured Story: Index Funds

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply