National Bank Financial Equities Analysts Cut Earnings Estimates for Canadian Imperial Bank of Commerce (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) – Equities research analysts at National Bank Financial cut their Q1 2019 earnings per share estimates for shares of Canadian Imperial Bank of Commerce in a report released on Thursday, November 29th. National Bank Financial analyst G. Dechaine now anticipates that the bank will earn $2.42 per share for the quarter, down from their prior estimate of $2.47. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2019 earnings at $2.29 EPS, FY2019 earnings at $9.35 EPS and FY2020 earnings at $9.94 EPS.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, November 29th. The bank reported $3.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.73. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.59 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.35% and a net margin of 20.85%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 EPS.

Several other equities research analysts have also issued reports on the company. Scotiabank reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday. BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday. Barclays reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 29th. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, November 26th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $121.33.

Shares of Canadian Imperial Bank of Commerce stock opened at $83.98 on Monday. The stock has a market cap of $37.11 billion, a PE ratio of 8.99, a PEG ratio of 1.61 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. Canadian Imperial Bank of Commerce has a 52-week low of $83.09 and a 52-week high of $100.01.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. WESPAC Advisors SoCal LLC lifted its holdings in Canadian Imperial Bank of Commerce by 1.1% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 48,330 shares of the bank’s stock worth $4,200,000 after purchasing an additional 545 shares during the last quarter. First Allied Advisory Services Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 9.9% in the 2nd quarter. First Allied Advisory Services Inc. now owns 6,320 shares of the bank’s stock worth $548,000 after purchasing an additional 571 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. D.A. Davidson & CO. now owns 12,052 shares of the bank’s stock worth $1,130,000 after purchasing an additional 691 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Canadian Imperial Bank of Commerce by 15.7% in the 3rd quarter. Private Advisor Group LLC now owns 5,346 shares of the bank’s stock worth $501,000 after purchasing an additional 727 shares during the last quarter. Finally, Creative Planning lifted its holdings in Canadian Imperial Bank of Commerce by 7.6% in the 3rd quarter. Creative Planning now owns 10,796 shares of the bank’s stock worth $1,012,000 after purchasing an additional 761 shares during the last quarter. Hedge funds and other institutional investors own 46.06% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 28th. Investors of record on Friday, December 28th will be issued a $1.034 dividend. The ex-dividend date is Thursday, December 27th. This represents a $4.14 annualized dividend and a yield of 4.92%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 44.65%.

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.

Recommended Story: NASDAQ

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit