Canadian Imperial Bank of Commerce Given Consensus Recommendation of “Hold” by Brokerages (NYSE:CM)
Canadian Imperial Bank of Commerce (NYSE:CM) has earned an average recommendation of “Hold” from the thirteen analysts that are covering the company, StockRatingsNetwork reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $90.30.
Canadian Imperial Bank of Commerce (NYSE:CM) opened at 88.76 on Wednesday. Canadian Imperial Bank of Commerce has a 1-year low of $69.92 and a 1-year high of $91.83. The stock has a 50-day moving average of $88.88 and a 200-day moving average of $84.98. The company has a market cap of $35.270 billion and a P/E ratio of 12.31.
Canadian Imperial Bank of Commerce (NYSE:CM) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.90 by $0.09. Analysts expect that Canadian Imperial Bank of Commerce will post $8.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.9209 per share. This represents a $3.68 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, June 25th.
A number of analysts have recently weighed in on CM shares. Analysts at Scotiabank cut their price target on shares of Canadian Imperial Bank of Commerce from C$104.00 to C$103.00 in a research note on Friday, May 30th. They now have a “sector perform” rating on the stock. Separately, analysts at Macquarie downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research note on Friday, May 30th. Finally, analysts at Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 1st. They set a “buy” rating and a $105.00 price target on the stock.
Canadian Imperial Bank of Commerce (NYSE:CM) is a global financial institution.
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