Brokers Issue Forecasts for TSE:CM Q4 Earnings

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Stock analysts at Cormark issued their Q4 2024 earnings per share (EPS) estimates for shares of Canadian Imperial Bank of Commerce in a research report issued on Monday, November 25th. Cormark analyst L. Persaud expects that the company will earn $1.80 per share for the quarter. Cormark currently has a “Buy” rating and a $83.00 target price on the stock. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $6.41 per share. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s FY2025 earnings at $7.67 EPS.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping the consensus estimate of C$1.75 by C$0.18. The company had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. National Bankshares upped their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$74.00 to C$90.00 in a research report on Friday, August 30th. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$85.00 to C$108.00 in a research report on Monday. Finally, Royal Bank of Canada increased their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$87.17.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at C$91.06 on Wednesday. Canadian Imperial Bank of Commerce has a 1 year low of C$51.60 and a 1 year high of C$92.17. The firm has a 50 day moving average price of C$86.05 and a 200 day moving average price of C$75.02. The company has a market cap of C$86.05 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Activity

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00. In the last three months, insiders sold 203,057 shares of company stock worth $16,823,249. 0.02% of the stock is currently owned by insiders.

About Canadian Imperial Bank of Commerce

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.