For its first fiscal quarter (ending January 31), Canadian Imperial Bank of Commer (NYSE: CM) has reported a 354% increase in E.P.S. from $0.39 a year ago to $1.77 in the current quarter. This result exceeded the consensus estimate of $1.36 by $0.41. For the latest four quarters through January 31, E.P.S. were $6.54 versus $5.07 for the same period a year ago — an increase of 29%.
Recent Price Action
Canadian Imperial Bank of Commer (NYSE: CM) stock enjoyed a large increase of 2.2% on 2/29/24. The stock closed at $47.32. Moreover, this advance was accompanied by exceptionally high trading volume at 201% of normal. The stock has been strong relative to the market over the last nine months and has risen 2.2% during the last week.
Current PriceTarget Research Rating
CM’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Canadian Imperial Bank of Commer has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Canadian Imperial Bank of Commer has a good Power Rating of 80 and a very high Appreciation Score of 87, and the Highest Value Trend Rating results.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
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