Commonwealth Bank of Australia (ASX: CBA) is expected to report its 2018 financial year results tomorrow.
Commonwealth Bank of Australia has had a rough few months — and rightly so — dealing with the fallout of poor financial advice and other revelations following the Royal Commission
.
In response, CBA announced it would divest some of its advice and broking businesses into an ASX-listed company called CFS Group.
Investors will be watching for further details on the demerger when the company reports tomorrow.
What To Expect When CBA Reports
According to data compiled by Bloomberg, CBA is expected to report a profit of $9.68 billion with full-year dividends of $4.28, in-line with 2017.
However, analysts surveyed by The Wall Street Journal expect full-year profits per share of $5.30, down from $5.56 in 2017.
Despite the decline, some analysts remain upbeat about the bank’s prospects with 5 analysts rating the company as a ‘buy’ or ‘overweight’.
On Wednesday, investors will also be watching for reports from financial services companies AMP Limited (ASX: AMP), Suncorp Group Ltd (ASX: SUN) and IOOF Holdings Limited (ASX: IFL).
Introducing The Australian Investors Podcast
Join The Rask Group’s founder, Owen Raszkiewicz, as he profiles Australia’s best investors, founders, authors and financial thinkers. Download it free on iTunes, Castbox, SoundCloud or wherever you choose to listen.
