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Canadian Imperial Bank (CM) Outpaces Stock Market Gains: What You Should Know
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Canadian Imperial Bank (CM - Free Report) closed at $41.61 in the latest trading session, marking a +0.27% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.05%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 6.02%.
Coming into today, shares of the bank and financial services company had lost 1.89% in the past month. In that same time, the Finance sector gained 1.18%, while the S&P 500 gained 1.18%.
Investors will be hoping for strength from Canadian Imperial Bank as it approaches its next earnings release. On that day, Canadian Imperial Bank is projected to report earnings of $1.34 per share, which would represent a year-over-year decline of 4.29%. Meanwhile, our latest consensus estimate is calling for revenue of $4.08 billion, down 3.93% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.63 per share and revenue of $17.32 billion. These totals would mark changes of +1.62% and +1.11%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Imperial Bank. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Canadian Imperial Bank currently has a Zacks Rank of #3 (Hold).
Investors should also note Canadian Imperial Bank's current valuation metrics, including its Forward P/E ratio of 7.37. This valuation marks a discount compared to its industry's average Forward P/E of 7.53.
It is also worth noting that CM currently has a PEG ratio of 2.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.97 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canadian Imperial Bank (CM) Outpaces Stock Market Gains: What You Should Know
Canadian Imperial Bank (CM - Free Report) closed at $41.61 in the latest trading session, marking a +0.27% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.05%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 6.02%.
Coming into today, shares of the bank and financial services company had lost 1.89% in the past month. In that same time, the Finance sector gained 1.18%, while the S&P 500 gained 1.18%.
Investors will be hoping for strength from Canadian Imperial Bank as it approaches its next earnings release. On that day, Canadian Imperial Bank is projected to report earnings of $1.34 per share, which would represent a year-over-year decline of 4.29%. Meanwhile, our latest consensus estimate is calling for revenue of $4.08 billion, down 3.93% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.63 per share and revenue of $17.32 billion. These totals would mark changes of +1.62% and +1.11%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Imperial Bank. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Canadian Imperial Bank currently has a Zacks Rank of #3 (Hold).
Investors should also note Canadian Imperial Bank's current valuation metrics, including its Forward P/E ratio of 7.37. This valuation marks a discount compared to its industry's average Forward P/E of 7.53.
It is also worth noting that CM currently has a PEG ratio of 2.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Foreign was holding an average PEG ratio of 0.97 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.