Advertisement
Canada markets open in 1 hour 48 minutes
  • S&P/TSX

    22,107.08
    +194.56 (+0.89%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CAD/USD

    0.7358
    -0.0014 (-0.20%)
     
  • CRUDE OIL

    82.56
    +1.21 (+1.49%)
     
  • Bitcoin CAD

    95,945.84
    +372.25 (+0.39%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,232.20
    +19.50 (+0.88%)
     
  • RUSSELL 2000

    2,114.35
    +44.19 (+2.13%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,482.00
    -21.75 (-0.12%)
     
  • VOLATILITY

    12.98
    +0.20 (+1.56%)
     
  • FTSE

    7,952.37
    +20.39 (+0.26%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6815
    +0.0010 (+0.15%)
     

Canadian Imperial Bank (CM): Strong Industry, Solid Earnings Estimate Revisions

One stock that might be an intriguing choice for investors right now is Canadian Imperial Bank of Commerce CM. This is because this security in the Banks – Foreign space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
 
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Banks - Foreign space as it currently has a Zacks Industry Rank of 59 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Canadian Imperial Bank is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

CDN IMPL BK Price and Consensus

CDN IMPL BK Price and Consensus | CDN IMPL BK Quote

ADVERTISEMENT

In fact, over the past month, current quarter estimates have risen from $1.84 per share to $1.89 per share, while current year estimates have risen from $7.33 per share to $7.68 per share. This has helped CM to earn a Zacks Rank #2 (Buy) further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Canadian Imperial Bank. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Confidential from Zacks

Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
CDN IMPL BK (CM): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research