Canadian Imperial Bank of Commerce (CM) Forecasted to Post Q1 2018 Earnings of $2.88 Per Share

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Research analysts at Cormark boosted their Q1 2018 earnings estimates for shares of Canadian Imperial Bank of Commerce in a note issued to investors on Friday. Cormark analyst M. Grauman now anticipates that the company will post earnings of $2.88 per share for the quarter, up from their previous estimate of $2.82. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q2 2018 earnings at $2.83 EPS, Q3 2018 earnings at $2.88 EPS, Q4 2018 earnings at $2.81 EPS, FY2018 earnings at $11.49 EPS, Q1 2019 earnings at $2.97 EPS, Q2 2019 earnings at $2.96 EPS, Q3 2019 earnings at $3.08 EPS, Q4 2019 earnings at $3.13 EPS and FY2019 earnings at $12.14 EPS.

Several other analysts also recently issued reports on the stock. TD Securities upped their price target on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$135.00 and gave the company a “buy” rating in a report on Friday, December 1st. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a report on Friday, December 1st. Royal Bank Of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the company a “sector perform” rating in a report on Friday, December 1st. National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$133.00 and gave the company an “outperform” rating in a report on Friday, December 1st. Finally, CSFB upped their price target on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the company an “outperform” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$124.92.

Shares of Canadian Imperial Bank of Commerce (CM) traded down C$0.92 during midday trading on Monday, hitting C$119.42. 1,487,884 shares of the company’s stock traded hands, compared to its average volume of 1,351,530. Canadian Imperial Bank of Commerce has a 12 month low of C$103.84 and a 12 month high of C$122.56.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, December 28th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 45.08%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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

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