Canadian Imperial Bank of Commerce Expected to Earn Q2 2019 Earnings of $2.21 Per Share (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Investment analysts at Desjardins dropped their Q2 2019 earnings estimates for Canadian Imperial Bank of Commerce in a research note issued to investors on Monday, May 13th. Desjardins analyst D. Young now expects that the bank will post earnings of $2.21 per share for the quarter, down from their prior forecast of $2.36. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s FY2019 earnings at $9.09 EPS and FY2020 earnings at $9.65 EPS.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 28th. The bank reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.11). Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.17%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.51 billion.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. ValuEngine lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Scotiabank reissued an “average” rating and set a $126.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, February 22nd. Canaccord Genuity reaffirmed an “average” rating and issued a $125.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, February 20th. Finally, Barclays reaffirmed an “average” rating and issued a $123.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average price target of $125.43.

Shares of Canadian Imperial Bank of Commerce stock opened at $82.16 on Wednesday. Canadian Imperial Bank of Commerce has a fifty-two week low of $72.96 and a fifty-two week high of $96.98. The firm has a market capitalization of $36.21 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 4.82 and a beta of 1.16. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.12.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Liberty Wealth Management LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $31,000. Heritage Wealth Advisors bought a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter valued at about $31,000. CWM LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 1,524.0% in the first quarter. CWM LLC now owns 406 shares of the bank’s stock valued at $32,000 after acquiring an additional 381 shares during the period. Advisory Services Network LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 108.0% in the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock valued at $33,000 after acquiring an additional 230 shares during the period. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $37,000. Institutional investors own 47.26% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were issued a $1.0616 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.17%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.50%.

About Canadian Imperial Bank of Commerce

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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