Sanford C. Bernstein Lowers JPMorgan Chase & Co. Price Target to $60.00 (JPM)
Analysts at Sanford C. Bernstein cut their target price on shares of JPMorgan Chase & Co. (NYSE:JPM) from $62.00 to $60.00 in a research report issued to clients and investors on Monday, ARN reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective indicates a potential upside of 13.83% from the company’s current price.
JPMorgan Chase & Co. (NYSE:JPM) traded up 0.38% during mid-day trading on Monday, hitting $52.71. The stock had a trading volume of 18,876,142 shares. JPMorgan Chase & Co. has a one year low of $38.83 and a one year high of $56.93. The stock’s 50-day moving average is $52.01 and its 200-day moving average is $52.12. The company has a market cap of $117.8 billion and a price-to-earnings ratio of 11.98. JPMorgan Chase & Co. also was the target of some unusual options trading activity on Friday. Investors bought 99,458 call options on the company. This represents an increase of approximately 109% compared to the average volume of 47,695 call options.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. The company had revenue of $23.90 billion for the quarter, compared to the consensus estimate of $24.14 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post $5.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, October 2nd.
JPM has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note to investors on Monday. They now have a $66.00 price target on the stock, up previously from $62.00. Separately, analysts at Evercore Partners reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note to investors on Friday. They now have a $61.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note to investors on Friday. They now have a $64.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $59.80.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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