Canadian Imperial Bank of Commerce (CM) Is A Stock You Should Watch

As of Wednesday close, Canadian Imperial Bank of Commerce’s (NYSE:CM) stock was down -$0.66, moving down -1.59 percent to $40.94. The average number of shares traded per day over the past five days has been 777,200 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.28 fall in that time frame. In the last twenty days, the average volume was 1,030,215, while in the previous 50 days, it was 1,236,464.

Since last month, CM stock rose 0.54%. Shares of the company fell to $39.63 on 05/04/23, the lowest level in the past month. A 52-week high of $56.68 was reached on 02/14/23 after having rallying from a 52-week low of $39.40. Since the beginning of this year, CM’s stock price has risen by 1.21% or $0.49, and marked a new high 20 times. However, the stock has declined by -27.77% since its 52-week high.

Valuation Metrics

Right now, Canadian Imperial Bank of Commerce (CM) has a P/E ratio of about 10.93. The stock’s beta is 1.03. Besides these, the trailing price-to-sales (P/S) ratio of 1.77, the price-to-book (PB) ratio of 1.12, and the price-to-cash flow ratio of 2.57 may also be considered.

The latest dividend of $0.6390 per share was paid out, which is 1.91% more than last year’s $0.6270. On Friday February 24 2023, a $0.0120 dividend increase was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending January 30 was 0.16, and the total debt-to-equity ratio was 0.16. In the year ended January 30, operating margins totaled 40.10%. Based on annual data, CM earned $9.82 billion in gross profit and brought in $17.23 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 18.30%. Return on equity (ROE) for the past 12 months was 10.30%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Canadian Imperial Bank of Commerce to report $1.24 quarterly earnings, the actual figure was $1.42 per share, beating the consensus estimate by 14.50%.

Technical Picture

This quick technical analysis looks at Canadian Imperial Bank of Commerce’s (CM) price momentum. With a historical volatility rate of 19.50%, the RSI 9-day stood at 40.29% on 24 May.

With respect to its five-day moving average, the current Canadian Imperial Bank of Commerce price is down by -3.03% percent or -$1.28. At present, CM shares trade -0.27% below its 20-day simple moving average and +0.89% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.50% below its SMA50 and -18.90% below its SMA200.

Stochastic coefficient K was 54.49% and Stochastic coefficient D was 67.10%, while ATR was 0.74. Given the Stochastic reading of 16.40% for the 14-day period, the RSI (14) reading has been calculated as 42.80%. As of today, the MACD Oscillator reading stands at -0.28, while the 14-day reading stands at -0.19.

Analyst Ratings

Canadian Imperial Bank of Commerce (CM) has been rated Hold by analysts. According to 1 brokerage firm, CM is a sell, and 3 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Canadian Imperial Bank of Commerce stock as buy, with 1 recommending it as overweight.

With a median target price of $66.00, the current consensus forecast for the stock is $35.30 – $70.00. Based on these forecasts, analysts predict Canadian Imperial Bank of Commerce (CM) will achieve an average price target of $57.66.