FY2017 Earnings Estimate for Canadian Imperial Bank of Commerce Issued By Desjardins (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Equities researchers at Desjardins lifted their FY2017 EPS estimates for Canadian Imperial Bank of Commerce in a research report issued on Monday, according to Zacks Investment Research. Desjardins analyst D. Young now expects that the company will post earnings of $10.94 per share for the year, up from their prior forecast of $10.92. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2017 earnings at $2.64 EPS.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 24th. The company reported C$2.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$2.63 by C$0.14. The firm had revenue of C$4.10 billion during the quarter, compared to analysts’ expectations of C$4.01 billion. Canadian Imperial Bank of Commerce had a net margin of 26.73% and a return on equity of 16.50%.

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Other research analysts have also recently issued research reports about the stock. Barclays PLC upped their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a report on Friday, August 11th. BMO Capital Markets reiterated a “market perform” rating and issued a C$118.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price target for the company in a report on Wednesday, September 6th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$118.00 to C$120.00 and gave the company a “sector perform” rating in a report on Monday, August 21st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a C$116.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of C$119.18.

Canadian Imperial Bank of Commerce (TSE:CM) opened at C$112.81 on Tuesday. Canadian Imperial Bank of Commerce has a 1-year low of C$102.53 and a 1-year high of C$120.83.

In other news, Director Katharine Berghuis Stevenson purchased 400 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of C$105.19 per share, with a total value of C$42,076.00. Also, Director Michelle Lynn Collins purchased 1,186 shares of the company’s stock in a transaction on Monday, August 28th. The shares were purchased at an average cost of C$84.30 per share, for a total transaction of C$99,979.80.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, September 28th were issued a dividend of $1.30 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $5.20 annualized dividend and a yield of 4.61%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.36%.

About Canadian Imperial Bank of Commerce

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.

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

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