FY2022 EPS Estimates for Canadian Imperial Bank of Commerce (TSE:CM) Cut by Cormark

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) – Research analysts at Cormark cut their FY2022 earnings per share (EPS) estimates for Canadian Imperial Bank of Commerce in a report released on Tuesday, November 22nd. Cormark analyst L. Persaud now expects that the company will post earnings of $7.35 per share for the year, down from their prior estimate of $7.47. Cormark has a “Market Perform” rating on the stock. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $7.43 per share. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2022 earnings at $1.70 EPS and FY2024 earnings at $7.68 EPS.

Several other brokerages also recently issued reports on CM. Fundamental Research restated a “buy” rating and issued a C$81.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, September 7th. Credit Suisse Group reduced their price objective on Canadian Imperial Bank of Commerce to C$72.00 in a research report on Tuesday. Keefe, Bruyette & Woods reduced their target price on Canadian Imperial Bank of Commerce from C$72.00 to C$69.00 in a research report on Friday, November 18th. National Bankshares reduced their target price on Canadian Imperial Bank of Commerce from C$84.00 to C$80.00 in a research report on Friday, November 18th. Finally, Barclays reduced their target price on Canadian Imperial Bank of Commerce from C$74.00 to C$69.00 in a research report on Monday, August 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average price target of C$89.23.

Canadian Imperial Bank of Commerce Stock Down 0.1 %

Shares of TSE:CM opened at C$64.66 on Thursday. Canadian Imperial Bank of Commerce has a 52-week low of C$55.35 and a 52-week high of C$83.75. The stock’s fifty day simple moving average is C$61.34 and its 200-day simple moving average is C$66.37. The company has a market capitalization of C$58.50 billion and a P/E ratio of 9.32.

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 25th. The company reported C$1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.80 by C$0.05. The company had revenue of C$5.57 billion during the quarter, compared to analysts’ expectations of C$5.47 billion.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 28th were paid a dividend of $0.83 per share. The ex-dividend date was Tuesday, September 27th. This represents a $3.32 annualized dividend and a yield of 5.13%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.55%.

Canadian Imperial Bank of Commerce Company Profile

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

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