Canadian Imperial Bank of Commerce to Post FY2023 Earnings of $6.75 Per Share, Desjardins Forecasts (TSE:CM)

Canadian Imperial Bank of Commerce (TSE:CMFree Report) (NYSE:CM) – Equities researchers at Desjardins dropped their FY2023 earnings estimates for shares of Canadian Imperial Bank of Commerce in a note issued to investors on Thursday, August 31st. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $6.75 for the year, down from their previous estimate of $6.90. The consensus estimate for Canadian Imperial Bank of Commerce’s current full-year earnings is $7.09 per share. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q4 2023 earnings at $1.59 EPS.

Several other research firms also recently commented on CM. National Bankshares reduced their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$62.00 and set a “sector perform” rating for the company in a research note on Friday. CSFB cut their price target on Canadian Imperial Bank of Commerce from C$57.00 to C$56.00 and set a “neutral” rating for the company in a research note on Friday. Scotiabank lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$66.00 to C$62.00 and set a “sector perform” rating on the stock in a research report on Monday, August 21st. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$65.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Canaccord Genuity Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$62.00 to C$64.00 and gave the company a “buy” rating in a report on Monday, July 24th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$63.06.

View Our Latest Research Report on CM

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$54.16 on Monday. Canadian Imperial Bank of Commerce has a one year low of C$53.01 and a one year high of C$65.24. The company has a 50-day simple moving average of C$55.99 and a 200-day simple moving average of C$57.11. The stock has a market capitalization of C$49.70 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 31.58 and a beta of 1.02.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 67.05%.

About Canadian Imperial Bank of Commerce

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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.

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

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