As of Wednesday close, Canadian Imperial Bank of Commerce’s (NYSE:CM) stock was down -$0.07, moving down -0.17 percent to $40.06. The average number of shares traded per day over the past five days has been 1,054,180 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.52 fall in that time frame. In the last twenty days, the average volume was 907,680, while in the previous 50 days, it was 1,200,936.
Since last month, CM stock retreated -8.68%. Shares of the company fell to $39.86 on 08/16/23, the lowest level in the past month. A 52-week high of $53.36 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 dropped by -0.96% or -$0.39, and marked a new high 20 times. However, the stock has declined by -24.93% since its 52-week high.
Valuation Metrics
Right now, Canadian Imperial Bank of Commerce (CM) has a P/E ratio of about 10.38. The stock’s beta is 1.04. Besides these, the trailing price-to-sales (P/S) ratio of 1.40, the price-to-book (PB) ratio of 1.06, and the price-to-cash flow ratio of 2.24 may also be considered.
The latest dividend of $0.6420 per share was paid out, which is 0.47% more than last year’s $0.6390. On Thursday May 25 2023, a $0.0030 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending April 29 was 0.14, and the total debt-to-equity ratio was 0.14. In the year ended April 29, operating margins totaled 32.60%. 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 10.40%.
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 $1.23 quarterly earnings, the actual figure was $1.29 per share, beating the consensus estimate by 4.90%.
Technical Picture
This quick technical analysis looks at Canadian Imperial Bank of Commerce’s (CM) price momentum. With a historical volatility rate of 17.01%, the RSI 9-day stood at 19.48% on 16 August.
With respect to its five-day moving average, the current Canadian Imperial Bank of Commerce price is down by -3.66% percent or -$1.52. At present, CM shares trade -8.87% below its 20-day simple moving average and -3.21% percent below its 100-day simple moving average. However, the stock is currently trading approximately -4.48% below its SMA50 and -10.92% below its SMA200.
Stochastic coefficient K was 5.27% and Stochastic coefficient D was 6.34%, while ATR was 0.70. Given the Stochastic reading of 4.47% for the 14-day period, the RSI (14) reading has been calculated as 27.90%. As of today, the MACD Oscillator reading stands at -1.03, while the 14-day reading stands at -1.61.
Analyst Ratings
Canaccord Genuity upgraded its rating on Canadian Imperial Bank of Commerce (NYSE: CM) to a Buy in a note to investors on May 10, 2023. The analysts firm previously had a Hold rating on the stock.Canadian Imperial Bank of Commerce (CM) has been rated Hold by analysts. According to 1 brokerage firm, CM is a sell, and 2 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Canadian Imperial Bank of Commerce stock as buy, with 1 recommending it as overweight.
With a median target price of $48.00, the current consensus forecast for the stock is $35.23 – $69.00. Based on these forecasts, analysts predict Canadian Imperial Bank of Commerce (CM) will achieve an average price target of $50.74.
