JPMorgan Chase & Co. Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:JPM)
Shares of JPMorgan Chase & Co. (NYSE:JPM) have earned an average rating of “Buy” from the thirty-one brokerages that are presently covering the company, ARN reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twenty-two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $61.11.
A number of analysts have recently weighed in on JPM shares. Analysts at Zacks downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 29th. They now have a $50.00 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 21st. They set a “buy” rating on the stock. Finally, analysts at MKM Partners initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 21st. They set a “buy” rating and a $65.00 price target on the stock.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down 0.36% during mid-day trading on Tuesday, hitting $57.98. 1,078,769 shares of the company’s stock traded hands. JPMorgan Chase & Co. has a one year low of $50.06 and a one year high of $61.48. The stock has a 50-day moving average of $55.57 and a 200-day moving average of $56.9. The company has a market cap of $219.4 billion and a P/E ratio of 14.42.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The company reported $1.28 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.41 by $0.13. The company had revenue of $23.90 billion for the quarter, compared to the consensus estimate of $24.55 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post $5.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.38.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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