Canadian Imperial Bank of Commerce (CM) Set to Announce Quarterly Earnings on Wednesday

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will be announcing its earnings results before the market opens on Wednesday, May 22nd. Analysts expect the company to announce earnings of $2.29 per share for the quarter.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, February 28th. The bank reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.11). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.51 billion. Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.17%. On average, analysts expect Canadian Imperial Bank of Commerce to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

NYSE:CM opened at $81.52 on Wednesday. The firm has a market cap of $36.05 billion, a P/E ratio of 8.73, a price-to-earnings-growth ratio of 4.90 and a beta of 1.16. Canadian Imperial Bank of Commerce has a 1-year low of $72.96 and a 1-year high of $96.98. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were given a dividend of $1.0616 per share. This represents a $4.25 annualized dividend and a yield of 5.21%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. The ex-dividend date was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.50%.

A number of research analysts have commented on the company. Barclays restated an “average” rating and issued a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, March 1st. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 4th. ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Scotiabank restated an “average” rating and issued a $126.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, February 22nd. Finally, Canaccord Genuity restated an “average” rating and issued a $125.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $125.43.

WARNING: This news story was posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2019/05/15/canadian-imperial-bank-of-commerce-cm-set-to-announce-quarterly-earnings-on-wednesday.html.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, 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.

See Also: How is the discount rate different from the Federal Funds rate?

Earnings History 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