Canadian Imperial Bank of Commerce (NYSE:CM) Posts Quarterly Earnings Results, Beats Expectations By $0.81 EPS

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) posted its quarterly earnings data on Thursday. The bank reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.81, Briefing.com reports. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $3.08 earnings per share.

Shares of Canadian Imperial Bank of Commerce stock opened at $75.24 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The stock has a market capitalization of $33.47 billion, a P/E ratio of 8.06, a PEG ratio of 7.88 and a beta of 1.17. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $77.39 and its 200 day moving average price is $80.68.

Several research firms have recently issued reports on CM. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. TD Securities cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Scotiabank restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Royal Bank of Canada reduced their target price on Canadian Imperial Bank of Commerce from $128.00 to $124.00 and set a “sector perform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target of $120.67.

Canadian Imperial Bank of Commerce Company Profile

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 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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