Canadian Imperial Bank of Commerce (TSE:CM) to Post FY2020 Earnings of $12.85 Per Share, Desjardins Forecasts

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities researchers at Desjardins lowered their FY2020 EPS estimates for Canadian Imperial Bank of Commerce in a report issued on Tuesday, August 6th. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $12.85 for the year, down from their prior estimate of $12.90. Desjardins has a “Hold” rating and a $118.00 price target on the stock.

CM has been the topic of a number of other reports. BMO Capital Markets decreased their price target on Canadian Imperial Bank of Commerce from C$128.00 to C$120.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. Citigroup decreased their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$120.00 in a research note on Thursday, June 27th. CSFB set a C$116.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Thursday, May 16th. National Bank Financial decreased their price target on Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 23rd. Finally, Canaccord Genuity lifted their price target on Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a research note on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of C$119.33.

Shares of Canadian Imperial Bank of Commerce stock opened at C$100.42 on Thursday. The stock has a 50 day moving average of C$103.26. The stock has a market cap of $44.66 billion and a PE ratio of 8.84. Canadian Imperial Bank of Commerce has a one year low of C$98.13 and a one year high of C$125.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported C$2.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$2.99 by C($0.02). The company had revenue of C$4.54 billion during the quarter, compared to the consensus estimate of C$4.54 billion.

The company also recently declared a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $5.60 annualized dividend and a dividend yield of 5.58%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.98%.

In related news, Director Nicholas D’orr Le Pan sold 500 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of C$103.47, for a total transaction of C$51,735.00. Following the sale, the director now directly owns 3,019 shares in the company, valued at C$312,375.93.

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 (TSE:CM)

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