At the last check on Thursday, Canadian Imperial Bank of Commerce’s (NYSE:CM) stock was down -$1.44, moving down -3.52 percent to $39.44. The average number of shares traded per day over the past five days has been 1,078,293 shares. 4 times new highs have been achieved over the past 5 days, with a -$0.23 fall in that time frame. In the last twenty days, the average volume was 1,093,223, while in the previous 50 days, it was 1,198,243.
Since last month, CM stock retreated -7.33%. Shares of the company fell to $39.11 on 08/22/23, the lowest level in the past month. A 52-week high of $49.95 was reached on 02/14/23 after having rallying from a 52-week low of $39.11. Since the beginning of this year, CM’s stock price has dropped by -2.50% or -$0.96, and marked a new high 20 times. However, the stock has declined by -21.04% since its 52-week high.
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Valuation Metrics
Right now, Canadian Imperial Bank of Commerce (CM) has a P/E ratio of about 10.32. The stock’s beta is 1.03. Besides these, the trailing price-to-sales (P/S) ratio of 1.39, the price-to-book (PB) ratio of 1.05, and the price-to-cash flow ratio of 2.23 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 22.07%, the RSI 9-day stood at 35.30% on 30 August.
With respect to its five-day moving average, the current Canadian Imperial Bank of Commerce price is down by -0.58% percent or -$0.23. At present, CM shares trade -6.69% below its 20-day simple moving average and -6.91% percent below its 100-day simple moving average. However, the stock is currently trading approximately -8.12% below its SMA50 and -19.13% below its SMA200.
Stochastic coefficient K was 44.90% and Stochastic coefficient D was 43.78%, while ATR was 0.75. Given the Stochastic reading of 15.57% for the 14-day period, the RSI (14) reading has been calculated as 35.88%. As of today, the MACD Oscillator reading stands at 0.50, while the 14-day reading stands at 0.38.
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 Underweight 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 0 recommending it as overweight.
With a median target price of $48.00, the current consensus forecast for the stock is $35.44 – $62.00. Based on these forecasts, analysts predict Canadian Imperial Bank of Commerce (CM) will achieve an average price target of $48.48.
