JPMorgan Chase & Co. Price Target Lowered to $63.00 at Guggenheim (JPM)
Analysts at Guggenheim reduced their price objective on shares of JPMorgan Chase & Co. (NYSE:JPM) from $66.00 to $63.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 21.88% from the stock’s previous close.
JPM has been the subject of a number of other recent research reports. Analysts at Societe Generale initiated coverage on shares of JPMorgan Chase & Co. (NYSE:JPM) in a research note to investors on Thursday, September 19th. They set a “hold” rating and a $56.00 price target on the stock. Separately, analysts at S&P Equity Research upgraded shares of JPMorgan Chase & Co. (NYSE:JPM) to a “strong-buy” rating in a research note to investors on Thursday, September 19th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of JPMorgan Chase & Co. (NYSE:JPM) in a research note to investors on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $58.57.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down 1.05% during mid-day trading on Monday, hitting $51.69. 21,347,732 shares of the company’s stock traded hands. JPMorgan Chase & Co. has a 52-week low of $38.83 and a 52-week high of $56.93. The stock’s 50-day moving average is $52.37 and its 200-day moving average is $51.9. The company has a market cap of $194.8 billion and a P/E ratio of 8.73.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.22. The company had revenue of $25.20 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post $5.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, October 2nd.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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