$1.94 EPS Expected for Canadian Imperial Bank of Commerce (USA) (CM); Ringcentral (RNG) Shorts Down By 22.4%

August 10, 2017 - By Ellis Scott

Analysts expect Canadian Imperial Bank of Commerce (USA) (NYSE:CM) to report $1.94 EPS on August, 24 before the open.They anticipate $0.12 EPS change or 5.83% from last quarter’s $2.06 EPS. CM’s profit would be $846.75 million giving it 11.00 P/E if the $1.94 EPS is correct. After having $1.99 EPS previously, Canadian Imperial Bank of Commerce (USA)’s analysts see -2.51% EPS growth. The stock decreased 1.03% or $0.89 during the last trading session, reaching $85.39. About shares traded. Canadian Imperial Bank of Commerce (USA) (NYSE:CM) has risen 2.52% since August 10, 2016 and is uptrending. It has underperformed by 14.18% the S&P500.

Ringcentral Incorporated (NYSE:RNG) had a decrease of 22.4% in short interest. RNG’s SI was 2.11 million shares in August as released by FINRA. Its down 22.4% from 2.72M shares previously. With 871,600 avg volume, 2 days are for Ringcentral Incorporated (NYSE:RNG)’s short sellers to cover RNG’s short positions. The stock increased 8.08% or $2.9 during the last trading session, reaching $38.8. About shares traded. RingCentral Inc (NYSE:RNG) has risen 80.85% since August 10, 2016 and is uptrending. It has outperformed by 64.15% the S&P500.

Canadian Imperial Bank of Commerce is a global financial institution. The company has market cap of $37.27 billion. The Firm provides a range of financial services and products to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. It has a 9.01 P/E ratio. The Firm operates through three divisions: Retail and Business Banking, Wealth Management and Capital Markets.

Among 12 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 2 have Buy rating, 2 Sell and 8 Hold. Therefore 17% are positive. Canadian Imperial Bank Of Commerce had 24 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was maintained by BMO Capital Markets with “Outperform” on Monday, August 31. BMO Capital Markets maintained the shares of CM in report on Friday, August 28 with “Outperform” rating. Credit Suisse upgraded the shares of CM in report on Thursday, August 27 to “Underperform” rating. The firm has “Hold” rating given on Monday, September 21 by Zacks. On Monday, September 7 the stock rating was downgraded by Zacks to “Sell”. The stock of Canadian Imperial Bank of Commerce (USA) (NYSE:CM) earned “Neutral” rating by Credit Suisse on Friday, March 31. On Thursday, August 27 the stock rating was maintained by Canaccord Genuity with “Hold”. The stock of Canadian Imperial Bank of Commerce (USA) (NYSE:CM) earned “Hold” rating by TD Securities on Thursday, December 3. As per Wednesday, September 21, the company rating was initiated by Dundee Securities. The firm earned “Underperform” rating on Monday, August 31 by Credit Suisse.

RingCentral, Inc. is a provider of software-as-a-service solutions for businesses to support modern communications. The company has market cap of $2.97 billion. The Company’s cloud business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax. It currently has negative earnings. The Company’s products include RingCentral Office, RingCentral Professional, RingCentral Fax, RingCentral Contact Center and RingCentral Glip.

Since February 22, 2017, it had 0 insider buys, and 13 insider sales for $17.38 million activity. Shares for $159,000 were sold by Marlow John H. $3.08 million worth of RingCentral Inc (NYSE:RNG) shares were sold by Shmunis Vladimir. Shah Praful had sold 10,000 shares worth $360,700. $6.42M worth of RingCentral Inc (NYSE:RNG) was sold by HOSEIN CLYDE on Friday, April 28. On Friday, May 19 Makagon Kira sold $336,600 worth of RingCentral Inc (NYSE:RNG) or 10,000 shares. Shares for $383,063 were sold by Michelle McKenna on Tuesday, March 7.

Among 16 analysts covering RingCentral (NYSE:RNG), 15 have Buy rating, 0 Sell and 1 Hold. Therefore 94% are positive. RingCentral had 35 analyst reports since July 21, 2015 according to SRatingsIntel. As per Friday, August 26, the company rating was initiated by Robert W. Baird. The stock of RingCentral Inc (NYSE:RNG) has “Buy” rating given on Thursday, August 3 by Oppenheimer. Oppenheimer maintained the shares of RNG in report on Wednesday, December 16 with “Outperform” rating. The firm has “Buy” rating given on Thursday, August 3 by Northland Capital. The rating was initiated by SunTrust on Monday, June 26 with “Buy”. As per Wednesday, December 2, the company rating was maintained by RBC Capital Markets. On Friday, July 31 the stock rating was upgraded by Raymond James to “Strong Buy”. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, December 9. Oppenheimer maintained RingCentral Inc (NYSE:RNG) rating on Tuesday, November 3. Oppenheimer has “Outperform” rating and $25 target. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, December 17.

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