Canadian Imperial Bank of Commerce Expected to Post Q3 2018 Earnings of $2.88 Per Share (CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities research analysts at Cormark dropped their Q3 2018 earnings estimates for shares of Canadian Imperial Bank of Commerce in a report issued on Thursday, May 24th. Cormark analyst M. Grauman now forecasts that the company will post earnings of $2.88 per share for the quarter, down from their previous estimate of $2.91. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2018 earnings at $11.83 EPS, Q1 2019 earnings at $3.06 EPS and Q2 2019 earnings at $3.09 EPS.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.83 by C$0.35. Canadian Imperial Bank of Commerce had a net margin of 31.76% and a return on equity of 18.90%. The firm had revenue of C$4.46 billion for the quarter, compared to analyst estimates of C$4.25 billion.

A number of other equities analysts have also weighed in on the stock. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$136.00 to C$124.00 in a report on Thursday. Eight Capital set a C$140.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Thursday. Scotiabank decreased their price target on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$127.00 and set a “sector perform” rating on the stock in a report on Thursday. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Thursday. Finally, Royal Bank of Canada decreased their price target on shares of Canadian Imperial Bank of Commerce from C$141.00 to C$135.00 and set a “sector perform” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of C$130.33.

Shares of Canadian Imperial Bank of Commerce opened at C$114.87 on Monday, according to Marketbeat.com. Canadian Imperial Bank of Commerce has a 1 year low of C$103.84 and a 1 year high of C$124.37.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson bought 1,500 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of C$119.17 per share, for a total transaction of C$178,755.00.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Thursday, June 28th will be issued a $1.33 dividend. The ex-dividend date of this dividend is Wednesday, June 27th. This represents a $5.32 dividend on an annualized basis and a dividend yield of 4.63%.

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.

Earnings History and Estimates for Canadian Imperial Bank of Commerce (TSE: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.


Leave a Reply