Cormark Weighs in on Canadian Imperial Bank of Commerce’s Q1 2020 Earnings (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Stock analysts at Cormark reduced their Q1 2020 earnings per share (EPS) estimates for shares of Canadian Imperial Bank of Commerce in a report issued on Friday, December 6th. Cormark analyst M. Grauman now forecasts that the company will earn $2.94 per share for the quarter, down from their prior forecast of $2.98. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2020 earnings at $2.92 EPS, Q3 2020 earnings at $3.02 EPS, Q4 2020 earnings at $3.01 EPS and FY2020 earnings at $11.92 EPS.

A number of other equities analysts also recently weighed in on the stock. Citigroup cut their price target on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a research note on Monday, September 9th. Scotiabank cut their price target on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$118.00 in a research note on Friday, December 6th. Eight Capital cut their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research note on Wednesday, August 14th. Canaccord Genuity set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Finally, TD Securities cut their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a “hold” rating on the stock in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of C$113.25.

TSE:CM opened at C$109.05 on Monday. The company has a market cap of $48.94 billion and a P/E ratio of 9.56. Canadian Imperial Bank of Commerce has a fifty-two week low of C$97.55 and a fifty-two week high of C$115.96. The firm’s 50 day moving average is C$113.58 and its two-hundred day moving average is C$106.75.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Tuesday, December 24th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 49.08%.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson bought 4,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of C$109.52 per share, with a total value of C$438,080.00. Following the purchase, the director now owns 20,352 shares in the company, valued at approximately C$2,228,951.04.

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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