|Bid||111.87 x 0|
|Ask||111.90 x 0|
|Day's Range||111.24 - 112.04|
|52 Week Range||97.55 - 116.35|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||9.81|
|Earnings Date||Nov. 27, 2019 - Dec. 2, 2019|
|Forward Dividend & Yield||5.76 (5.17%)|
|1y Target Est||111.27|
Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is one of the best dividend stocks to buy after the federal elections. Here is why.
(Bloomberg) -- Canadian Prime Minister Justin Trudeau won a second term in national elections, displaying once again a remarkable ability to overcome scandal and controversy to remain in power.Trudeau’s Liberal Party won 157 of Canada’s 338 electoral districts, losing his majority in parliament and the popular vote, but gaining enough seats to secure a stable government with support from smaller parties. The most likely partner for Trudeau would be the pro-labor New Democratic Party, which won 24 seats, giving the two parties a combined 181.While his minority position weakens his mandate, the result will nonetheless come as a relief for Trudeau, 47, who entered the campaign wounded by a scandal over his handling of a judicial case for a Quebec engineering firm, and was further rocked by revelations he wore blackface at least three times when he was younger.Canadians “voted in favor of a progressive agenda and strong action on climate change,” Trudeau said in his victory speech in Montreal. “I have heard you my friends, you are sending our Liberal team back to work, back to Ottawa with a clear mandate.”The prospect of a relatively stable minority government sparked little market reaction, with the Canadian dollar trading little changed at C$1.311, a three-month high. One Canadian dollar buys 76 U.S. cents.Trudeau even won support from Donald Trump.The second term allows the Liberal leader to cement one of the most left-leaning agendas the country has seen in at least a generation -- progressive on social issues, willing to run deficits to tackle income disparities, assertive on climate change and fervently internationalist in an era of populism. The push to the left would be accelerated if the Liberals are forced to team up with the NDP -- an alliance that will produce some trepidation in Canada’s energy sector, already saddled with reduced oil prices due to pipeline bottlenecks. Trudeau can also turn to other parties for support on a vote-by-vote basis.Conservative Leader Andrew Scheer cast his result -- raising his seat count by one-quarter from 2015 -- as a victory and said the party would be ready to replace Trudeau when he loses his grip on power. When that would happen is not clear, as NDP Leader Jagmeet Singh’s party won enough seats to back Trudeau in votes and signaled a willingness to do so.One potential flash point may be the proposed expansion of the Trans Mountain pipeline, which would carry crude from Alberta to a port near Vancouver. Trudeau’s government bought the pipeline last year to save its expansion after the previous owner, Kinder Morgan Inc., threatened to walk away. The NDP is anti-pipeline, and wants more aggressive moves to combat climate change.Yet, if history is any guide, the Liberals will only need to make moderate concessions to remain in power, without undermining the nation’s finances or key economic objectives, which includes constructing the Trans Mountain expansion that the NDP opposes. The average duration of the last three Canadian minority governments was almost two years.“While there are some residual political uncertainties, we’re not likely to see dramatic changes from the broad outlines of the Liberal platform, or for that matter, even from where policies were headed prior to the vote,” Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce, said in a note to investors.Performance RebukeStill, Trudeau will need to navigate carefully following a result that represented an undeniable rebuke of his performance over the past four years, without altogether turfing him from power.The Liberal seat result is well off the 184 the party won in 2015, when Trudeau swept to power with a majority government. The Liberals also won with the lowest share of the popular vote -- currently at 33% -- for any governing party in the nation’s history, even trailing the rival opposition Conservative Party, which won about 34% of ballots cast.He’s also overseeing a more divided nation than the one he inherited. The results exposed a stark regional split. The Conservatives -- who have championed the oil sector -- finished second with 121 districts, much of it concentrated in four western provinces. The separatist Bloc Quebecois finished with 32 districts, more than triple their tally from 2015, and pledged to support any measure they see as in Quebec’s interest. The Liberals won only 17 seats west of Ontario.There is also a deep fault line between rural Canada and the nation’s biggest cities. The Liberals relied heavily on big wins in Toronto and Montreal to stay in power, and are governing with hardly any districts outside of large cities and Atlantic Canada.The outcome likely ensures the survival, for now, of a national carbon price, introduced by Trudeau and deeply unpopular in a number of provinces. The Conservative Party had campaigned against the tax, which also includes payments made to households as an offset.It also may mean Trudeau will need to ramp up spending marginally more than promised. The Liberals pledged to increase the government deficit to C$27.4 billion ($21 billion) next year to fund new campaign promises, bringing it above 1% of gross domestic product for the first time since 2012. That’s even before any new measures needed to accommodate requests from the NDP to win their support.Singh, the NDP leader, has said he will lay out six requests in exchange for his support in any minority parliament: a universal pharmacare plan and national dental care, investments in affordable housing, waiving interest on student loans, a “bold” plan on climate change, a tax on wealth and a price cap on mobile phone bills. Singh told a crowd of cheering supporters near Vancouver that he’s already spoken to Trudeau; the crowd burst into chants of “tax the rich!” as Singh outlined his priorities.The Liberal Party is already pledging about C$10 billion in new annual spending by 2023 to finance a slew of new promises, including more generous child benefit payments and employment insurance, extra funding for post-secondary education, and an increase in the old age supplement for low-income pensioners.Tory SetbackTrudeau’s victory amounted to a rejection of Scheer, who failed to extend his party’s strength enough in the energy-rich prairies into breakthroughs in Ontario and Quebec, Canada’s two most populous provinces. Scheer campaigned on a small-government, pocketbook-issue platform akin to his predecessor, Stephen Harper, who governed Canada from 2006 to 2015.Scheer likened his result to Harper’s first election in 2004, which the former Conservative leader lost, and indicated he planned to remain as leader and bide his time to replace Trudeau. “When the time comes, and who knows when that will be, Canadians will need us to replace the Trudeau Liberals,” he said.Trudeau’s minority government is the fourth in Canada’s past six elections. Harper governed through two minorities before finally winning a majority. Trudeau’s father, former prime minister Pierre Trudeau, was cut down to a minority in his second mandate, before winning two more majorities over the course of his political career.(Updates results in second paragraph.)\--With assistance from Sandrine Rastello, Natalie Obiko Pearson and Kevin Orland.To contact the reporters on this story: Josh Wingrove in Washington at firstname.lastname@example.org;Theophilos Argitis in Ottawa at email@example.comTo contact the editors responsible for this story: David Scanlan at firstname.lastname@example.org, Stephen WicaryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing in Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) can be a great way to generate recurring income during your retirement years.
There’s every reason to thank the dividend gods for Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM), Pembina Pipeline Corp (TSX:PPL)(NYSE:PBA), and Capital Power Corp. (TSX:CPX) that continues to provide extra income to investors.
TD Bank's (TSX:TD)(NYSE:TD) diversification south of the border and expected earnings growth are two reasons why it is better positioned than most.
(Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.Pound traders are holding on to Brexit optimism as talks toward a divorce deal remain stuck over the contentious Irish border.Sterling touched a five-month high Wednesday after surging the most since 2008 in the past four days as an end to the Brexit saga appeared to be in sight. The currency swung between losses and gains as the Democratic Unionist Party denied reports it may support some of the latest proposals, an issue that has risked collapsing this week’s talks.Still, for currency traders there seems to be a silver lining with the intensity of the negotiations spurring confidence there is the political will on both sides to avoid a no-deal Brexit. U.K. Brexit Secretary Stephen Barclay told a parliamentary committee Wednesday that Prime Minister Boris Johnson will seek an extension on Saturday if a deal hasn’t been reached by then.“Sterling performance remains binary and reflects the tone of the negotiations,” said Jeremy Stretch, head of Group-of-10 currency strategy at Canadian Imperial Bank of Commerce. “Rumors of DUP resistance take sterling lower, hopes for a resolution in Brussels take it higher. It feels like the market is increasingly confident a deal will be done, or perhaps more accurately it’s more confident of no-deal being avoided, encouraging paring of pound shorts.”The currency market hasn’t been this twitchy over Brexit since the aftermath of the referendum that set off the process in 2016. The past few days have seen conflicting Brexit headlines forcing traders to reposition for a swift and brutal move once clarity emerges.The pound steadied at $1.2784 by 1:40 p.m. in London, whipsawing between a drop of 1% and a five-month high of $1.2840. U.K. government bonds erased most of their gains, with 10-year yields down one basis point to 0.68%, while the U.K.’s domestic-focused FTSE 250 stock index fell 0.3%.Short CoveringSome of the apparent pound optimism could come down to investor positioning, according to Nomura International Plc strategist Jordan Rochester. The market was overwhelmingly in favor of selling sterling and asset managers and hedge funds still hold short positions overall, according to the latest data from the Commodity Futures Trading Commission.“I have been impressed how the market has been taking every negative headline as an opportunity to buy back the pound here, a sign perhaps that despite the move, positioning is still long euro-sterling,” said Rochester. “The pound is failing to truly break lower on this bad news.”The euro only gained 0.1% against the pound to 86.35 pence, after rallying as much as 1%. Hedge funds were seen selling the euro at around 87 pence, according to traders in Europe, who asked not to be named as they were not authorized to comment.Time is running out to secure a Brexit deal before this week’s summit of European leaders, as Johnson struggles to win the support of the DUP. EU officials are also concerned the revised plan leaves open the possibility that Britain could undercut the bloc in certain areas.Option traders are pricing high levels of volatility over the coming week. One-week implied volatility in the pound-dollar pair surged to 20.07%, the highest since July 7, 2016.Morgan Stanley sees a 65% chance of a Brexit deal, up from 55% last week. However, the bank expects Parliament to reject it, which it sees leading to a further extension and elections to decide the way forward on Brexit. The pound would likely drift higher toward $1.30 in this scenario, the bank said.\--With assistance from Vassilis Karamanis.To contact the reporter on this story: Charlotte Ryan in London at email@example.comTo contact the editors responsible for this story: Paul Dobson at firstname.lastname@example.org, Neil Chatterjee, William ShawFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bank of Montreal (TSX:BMO)(NYSE:BMO) and Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) are two banking stocks you should buy as soon as possible.
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TORONTO, Oct. 7, 2019 /CNW/ - CIBC (TSX:CM - News) (NYSE:CM - News) employees, families and friends raised an estimated $3 million yesterday for the 28th annual Canadian Cancer Society CIBC Run for the Cure. With a shared purpose to create a future without breast cancer, 15,000 members of Team CIBC proudly came together with thousands of Canadians, many of those impacted by the disease. "Team CIBC is passionate about uniting with Canadians to make breast cancer beatable.
Canada Goose Holdings Inc (TSX:GOOS)(NYSE:GOOS) has been one of the best growth stocks on the TSX in recent years, but it's far from a risk-free investment.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Canada’s trade gap narrowed on a gain in energy and aircraft shipments, though overall export volumes continued to decline, clouding the picture on an otherwise better-than-expected result.The nation posted a C$955 million ($716 million) trade deficit in August, from a revised C$1.38 billion in July, Statistics Canada said Friday in Ottawa. The result surprised to the upside, beating economist expectations for a C$1.2 billion deficit.Canadian shipments have stabilized this year after suffering a harsh end to 2018 on weak oil exports. Still, exports on a volume basis, which strip out price effects, have struggled in recent months, and are down 1.4% since peaking in May. Economists expect the country’s output growth to slow to 1.5% in the third quarter, partly on global trade tensions, after a 3.7% expansion in the prior period.“While the headline was slightly better than consensus and have short-end yields in Canada a touch higher, the details were somewhat softer,” Royce Mendes, an economist at CIBC in Toronto, said in a note to clients. While two-way trade was up because of the gain in exports, “the details suggest that might not mean all that much for August GDP,” he said. Total exports increased 1.8% in August after falling for two consecutive months. Shipments of business jets to the U.S. led gains in aircraft trade, while higher crude oil prices drove energy product exports. On a volume basis, exports dropped 0.2%.Metal and non-metallic mineral shipments were the largest contributor to the 1% gain in imports in August. Gold imports reached the highest level in more than two years, reflecting an increase in asset acquisitions by Canadian companies. In volume terms, imports rose 1.2%.The currency pared gains after the report, and was trading 0.2% higher at C$1.3308 against its U.S. counterpart at 8:40 a.m. Toronto time. Two-year government bond yields rose 1 basis point to 1.43%.Canada’s trade surplus with the U.S., its main trading partner, widened to C$4.9 billion in August as export gains outpaced imports. Exports to China expanded despite disruptions to commerce between the two countries amid a diplomatic dispute involving the arrest of a top Huawei Technologies executive on a U.S. extradition request.July’s trade deficit was revised to C$1.38 billion, after an initially reported shortfall of C$1.12 billion, the statistics agency said.\--With assistance from Erik Hertzberg.To contact the reporter on this story: Shelly Hagan in Ottawa at email@example.comTo contact the editors responsible for this story: Theophilos Argitis at firstname.lastname@example.org, Chris FournierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It’s hogwash to say that Royal Bank of Canada (TSX:RY)(NYSE:RY) and Canadian Imperial Bank of Commerce (TSX:CM)(NYSE: CM) couldn’t withstand a housing crash.