Canadian Imperial Bank of Commerce (NYSE:CM) Forecasted to Earn Q2 2020 Earnings of $2.30 Per Share

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Research analysts at Desjardins issued their Q2 2020 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a research note issued on Thursday, December 5th. Desjardins analyst D. Young expects that the bank will post earnings of $2.30 per share for the quarter. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q3 2020 earnings at $2.33 EPS, Q4 2020 earnings at $2.30 EPS, FY2020 earnings at $9.19 EPS and FY2021 earnings at $9.49 EPS.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, December 5th. The bank reported $2.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.52. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.76 billion. Canadian Imperial Bank of Commerce had a net margin of 18.39% and a return on equity of 15.92%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Tuesday. BMO Capital Markets reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Barclays restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, August 22nd. ValuEngine downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Finally, National Bank Financial reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $122.50.

Shares of NYSE CM opened at $82.90 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of $72.96 and a 1 year high of $87.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50-day moving average of $86.12 and a 200 day moving average of $80.66. The stock has a market cap of $36.87 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17.

A number of large investors have recently added to or reduced their stakes in CM. Flagship Harbor Advisors LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 78.3% during the third quarter. Flagship Harbor Advisors LLC now owns 451 shares of the bank’s stock valued at $37,000 after buying an additional 198 shares during the last quarter. Private Capital Group LLC boosted its stake in Canadian Imperial Bank of Commerce by 116.9% during the 2nd quarter. Private Capital Group LLC now owns 616 shares of the bank’s stock valued at $54,000 after purchasing an additional 332 shares during the last quarter. Liberty Wealth Management LLC boosted its stake in Canadian Imperial Bank of Commerce by 50.9% during the 3rd quarter. Liberty Wealth Management LLC now owns 637 shares of the bank’s stock valued at $53,000 after purchasing an additional 215 shares during the last quarter. CWM LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 86.7% in the 2nd quarter. CWM LLC now owns 758 shares of the bank’s stock worth $60,000 after purchasing an additional 352 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 34.1% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,054 shares of the bank’s stock worth $87,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be given a dividend of $1.0908 per share. This represents a $4.36 annualized dividend and a yield of 5.26%. The ex-dividend date is Thursday, December 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 46.36%.

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.

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

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