Canadian Imperial Bank of Commerce (CM) Set to Announce Quarterly Earnings on Thursday

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) will be announcing its earnings results before the market opens on Thursday, August 23rd. Analysts expect the company to announce earnings of $2.23 per share for the quarter.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Wednesday, May 23rd. The bank reported $2.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.74. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.38 billion. Canadian Imperial Bank of Commerce had a net margin of 21.28% and a return on equity of 17.55%. Canadian Imperial Bank of Commerce’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. On average, analysts expect Canadian Imperial Bank of Commerce to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Shares of CM stock opened at $93.20 on Wednesday. The company has a market cap of $41.29 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52-week low of $83.02 and a 52-week high of $100.01.

Several equities analysts recently issued reports on CM shares. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. ValuEngine downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Citigroup upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 6th. Royal Bank of Canada lowered their target price on shares of Canadian Imperial Bank of Commerce from $141.00 to $135.00 and set a “sector perform” rating for the company in a research note on Thursday, May 24th. Finally, CIBC upgraded shares of Canadian Imperial Bank of Commerce to a “buy” rating and raised their target price for the company from $125.00 to $130.00 in a research note on Wednesday, June 6th. Three analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $118.78.

Canadian Imperial Bank of Commerce Company Profile

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.

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Earnings History for Canadian Imperial Bank of Commerce (NYSE:CM)

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