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Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) will be issuing its quarterly earnings data before the market opens on Thursday, December 1st. Analysts expect the company to announce earnings of $1.34 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.
Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last issued its earnings results on Thursday, August 25th. The bank reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.05. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.82% and a net margin of 24.18%. On average, analysts expect Canadian Imperial Bank of Commerce to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Canadian Imperial Bank of Commerce Trading Up 0.9 %
CM opened at $48.48 on Thursday. The business has a 50 day simple moving average of $45.23 and a two-hundred day simple moving average of $49.16. The firm has a market capitalization of $43.92 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 2.88 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Canadian Imperial Bank of Commerce has a one year low of $39.72 and a one year high of $66.24.
Analyst Ratings Changes
CM has been the subject of a number of recent analyst reports. National Bank Financial lowered their price target on Canadian Imperial Bank of Commerce from C$84.00 to C$83.00 in a research report on Tuesday, August 16th. CIBC upped their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$79.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. TD Securities lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price target for the company from C$74.00 to C$65.00 in a research report on Tuesday, November 15th. Desjardins lowered their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$73.00 and set a “hold” rating for the company in a research report on Monday, August 29th. Finally, StockNews.com initiated coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $81.58.
Institutional Trading of Canadian Imperial Bank of Commerce
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 14,825,265 shares of the bank’s stock worth $1,804,087,000 after buying an additional 495,127 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 75.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 941,255 shares of the bank’s stock worth $45,689,000 after buying an additional 404,220 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $73,764,000. Northern Trust Corp grew its stake in shares of Canadian Imperial Bank of Commerce by 95.1% in the 2nd quarter. Northern Trust Corp now owns 407,043 shares of the bank’s stock worth $19,757,000 after buying an additional 198,388 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 6.4% in the 1st quarter. BlackRock Inc. now owns 308,427 shares of the bank’s stock worth $37,532,000 after buying an additional 18,653 shares during the last quarter. Hedge funds and other institutional investors own 44.32% of the company’s stock.
About Canadian Imperial Bank of Commerce
(Get Rating)
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 Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
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