JPMorgan Chase & Co.’s “Neutral” Rating Reaffirmed at Zacks (JPM)
JPMorgan Chase & Co. (NYSE:JPM)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Thursday. They currently have a $62.00 price objective on the stock. Zacks‘s price objective points to a potential upside of 4.04% from the company’s current price.
Zacks’ analyst wrote, “JPMorgan braved the tough industry backdrop and seasonal softness due to its underlying strength. The company’s second-quarter 2014 earnings beat the Zacks Consensus Estimate. In addition to seasonally soft trading volumes, there were legal costs and lower reserve release to drag the results, but top-line strength dominated. Also, its cost containment efforts were reflected in the non-interest expenses. We anticipate continued synergies from business diversification, steadily improving retail banking performance, cost-containment efforts and strong capital position. However, pressure on net interest margin, a stringent regulatory environment, lower level of client activity and litigation issues remain the major near-term concerns.”
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of JPMorgan Chase & Co. from $64.00 to $65.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Nomura raised their price target on shares of JPMorgan Chase & Co. from $62.00 to $64.00 in a research note on Monday, July 21st. Finally, analysts at FBR Capital Markets upgraded shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $70.00 price target on the stock, up previously from $55.00. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. JPMorgan Chase & Co. has a consensus rating of “Buy” and an average target price of $61.85.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down 0.60% during mid-day trading on Thursday, hitting $59.23. The stock had a trading volume of 5,014,743 shares. JPMorgan Chase & Co. has a 52-week low of $50.06 and a 52-week high of $61.48. The stock has a 50-day moving average of $57.56 and a 200-day moving average of $57.12. The company has a market cap of $222.8 billion and a price-to-earnings ratio of 15.30. JPMorgan Chase & Co. also was the target of unusually large options trading activity on Monday. Stock investors purchased 38,664 call options on the stock. This is an increase of approximately 122% compared to the typical daily volume of 17,420 call options.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.26. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post $5.52 EPS for the current fiscal year.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
To view Zacks’ full report, visit Zacks’ official website.
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