Canadian Imperial Bank Of Commerce [CM] stock prices are up 2.51% to $48.51 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The CM shares have gain 3.32% over the last week, with a monthly amount glided 7.37%, and seem to be holding up well over a long-time horizon.
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On 1, March 2024, CIBC’s 2024 Annual Meeting of Shareholders – Meeting Materials Now Available. In a post published today on Yahoo Finance, CIBC (TSX: CM) (NYSE: CM) today announced that materials for its Annual Meeting of Shareholders scheduled on Thursday, April 4, 2024 at 9:30 a.m. Eastern Daylight Time (EDT), are now available, including the 2024 Management Proxy Circular.
From an analyst’s perspective:
Previously, Scotiabank upgraded its rating to Sector Outperform on February 20, 2024. On December 20, 2023, upgrade upgraded it’s rating to Outperform. BofA Securities upgraded its rating to a Neutral. Canaccord Genuity upgraded its rating to a Buy. BofA Securities downgraded its rating to Underperform for this stock on December 12, 2022. In a note dated December 05, 2022, RBC Capital Mkts downgraded an Sector Perform rating on this stock.
The stock price of Canadian Imperial Bank Of Commerce [CM] has been fluctuating between $34.35 and $48.92 over the past year. Currently, Wall Street analysts expect the stock to reach $106.62 within the next 12 months. Canadian Imperial Bank Of Commerce [NYSE: CM] shares were valued at $48.51 at the most recent close of the market. An investor can expect a potential return of 119.79% based on the average CM price forecast.
Analyzing the CM fundamentals
The Canadian Imperial Bank Of Commerce [NYSE:CM] reported sales of 42.87B for trailing twelve months, representing a surge of 20.97%. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.92%, Pretax Profit Margin comes in at 0.3%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.1 and Total Capital is 0.02. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of3.67.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 47.94 points at the first support level, and at 47.38 for the second support level. However, for the 1st resistance point, the stock is sitting at 48.89, and for the 2nd resistance point, it is at 49.27.
Canadian Imperial Bank Of Commerce [CM] reported earnings per share of $1.33 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.22/share, meaning a difference of $0.11 and a surprise factor of 9.00%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $1.16 per share as compared to estimates of $1.12 per share, a difference of $0.04 representing a surprise of 3.60%.
Ratios To Look Out For
It’s worth pointing out that Canadian Imperial Bank Of Commerce [NYSE:CM]’s Current Ratio is 0.30. Considering the valuation of this stock, the price to sales ratio is 1.05, the price to book ratio is 1.24 and price to earnings (TTM) ratio is 10.03.
