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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 the most recent trading day at $42.40, moving +1.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.74%.
Prior to today's trading, shares of the bank and financial services company had lost 3.97% over the past month. This has lagged the Finance sector's loss of 1.14% and the S&P 500's gain of 0.85% in that time.
Canadian Imperial Bank will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Imperial Bank to post earnings of $1.32 per share. This would mark a year-over-year decline of 5.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.08 billion, down 3.93% from the year-ago period.
CM's full-year Zacks Consensus Estimates are calling for earnings of $5.61 per share and revenue of $17.32 billion. These results would represent year-over-year changes of +1.26% and +1.11%, respectively.
Any recent changes to analyst estimates for Canadian Imperial Bank should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% lower. Canadian Imperial Bank is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Canadian Imperial Bank has a Forward P/E ratio of 7.43 right now. Its industry sports an average Forward P/E of 7.34, so we one might conclude that Canadian Imperial Bank is trading at a premium comparatively.
Meanwhile, CM's PEG ratio is currently 2.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Foreign was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 117, putting it in the top 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canadian Imperial Bank (CM) Outpaces Stock Market Gains: What You Should Know
Canadian Imperial Bank (CM - Free Report) closed the most recent trading day at $42.40, moving +1.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.74%.
Prior to today's trading, shares of the bank and financial services company had lost 3.97% over the past month. This has lagged the Finance sector's loss of 1.14% and the S&P 500's gain of 0.85% in that time.
Canadian Imperial Bank will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Imperial Bank to post earnings of $1.32 per share. This would mark a year-over-year decline of 5.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.08 billion, down 3.93% from the year-ago period.
CM's full-year Zacks Consensus Estimates are calling for earnings of $5.61 per share and revenue of $17.32 billion. These results would represent year-over-year changes of +1.26% and +1.11%, respectively.
Any recent changes to analyst estimates for Canadian Imperial Bank should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% lower. Canadian Imperial Bank is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Canadian Imperial Bank has a Forward P/E ratio of 7.43 right now. Its industry sports an average Forward P/E of 7.34, so we one might conclude that Canadian Imperial Bank is trading at a premium comparatively.
Meanwhile, CM's PEG ratio is currently 2.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Foreign was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 117, putting it in the top 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.