Earnings Report: Here’s what to expect from Canadian Imperial Bank of Commerce (NYSE:CM)

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

Canadian Imperial Bank of Commerce is expected* to report earnings on 08/26/2021 before market open. The report will be for the fiscal Quarter ending Jul 2021. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.65. The reported EPS for the same quarter last year was $1.96.

Canadian Imperial Bank of Commerce last posted its quarterly earnings results on May 26th, 2021. The bank reported $3.59 EPS for the quarter, beating the consensus estimate of $3.03 by $0.56. The firm earned $4.93 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Its revenue for the quarter was up 7.7% on a year-over-year basis. Canadian Imperial Bank of Commerce has generated $7.21 earnings per share over the last year ($9.08 diluted earnings per share) and currently has a price-to-earnings ratio of 13.2. Earnings for Canadian Imperial Bank of Commerce are expected to decrease by -1.38% in the coming year, from $10.90 to $10.75 per share. Canadian Imperial Bank of Commerce has confirmed that its next quarterly earnings report will be published on Thursday, August 26th, 2021. Canadian Imperial Bank of Commerce will be holding an earnings conference call on Thursday, August 26th at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Canadian Imperial Bank of Commerce (NYSE:CM)

11 Wall Street analysts have issued ratings and price targets for Canadian Imperial Bank of Commerce in the last 12 months. Their average twelve-month price target is $140.38, predicting that the stock has a possible upside of 16.81%. The high price target for CM is $166.00 and the low price target for CM is $108.25. There are currently 2 hold ratings and 9 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Canadian Imperial Bank of Commerce has received a consensus rating of Buy. The company’s average rating score is 2.82, and is based on 9 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $140.38, Canadian Imperial Bank of Commerce has a forecasted upside of 16.8% from its current price of $120.17. Canadian Imperial Bank of Commerce has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: Canadian Imperial Bank of Commerce (NYSE:CM)

Canadian Imperial Bank of Commerce is a leading dividend payer. It pays a dividend yield of 4.07%, putting its dividend yield in the top 25% of dividend-paying stocks. Canadian Imperial Bank of Commerce has only been increasing its dividend for 1 years. The dividend payout ratio of Canadian Imperial Bank of Commerce is 67.13%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Canadian Imperial Bank of Commerce will have a dividend payout ratio of 45.02% next year. This indicates that Canadian Imperial Bank of Commerce will be able to sustain or increase its dividend.

Insiders buying/selling: Canadian Imperial Bank of Commerce (NYSE:CM)

In the past three months, Canadian Imperial Bank of Commerce insiders have not sold or bought any company stock. 41.97% of the stock of Canadian Imperial Bank of Commerce is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Canadian Imperial Bank of Commerce (NYSE:CM

Earnings for Canadian Imperial Bank of Commerce are expected to decrease by -1.38% in the coming year, from $10.90 to $10.75 per share. The P/E ratio of Canadian Imperial Bank of Commerce is 13.23, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 13.80. The P/E ratio of Canadian Imperial Bank of Commerce is 13.23, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 14.44. Canadian Imperial Bank of Commerce has a PEG Ratio of 0.98. PEG Ratios around 1 indicate that a company is correctly valued. Canadian Imperial Bank of Commerce has a P/B Ratio of 1.88. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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