Canadian Imperial Bank of Commerce reports results for the quarter ended April 30 - Earnings Summary

• Canadian Imperial Bank of Commerce CM.TO reported quarterly adjusted earnings of C$2.05​​ per share for the quarter ended April 30, higher than the same quarter last year, when the company reported EPS of C$1.75. The mean expectation of fourteen analysts for the quarter was for earnings of C$1.89 per share. Wall Street expected results to range from C$1.68 to C$2.06 per share.

• Revenue rose 13.9% to C$7.02 billion from a year ago; analysts expected C$6.90 billion.

• Canadian Imperial Bank of Commerce's reported EPS for the quarter was C$2.04​.

• The company reported quarterly net income of C$2.01 billion.

• Canadian Imperial Bank of Commerce shares had risen by 16.1% this quarter and gained 3.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.5% in the last three months.​

• In the last 30 days, five analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 5 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Canadian Imperial Bank of Commerce is C$95.50

This summary was machine generated from LSEG data May 29 at 01:30 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)