Oppenheimer Holdings Analysts Boost Earnings Estimates for JPMorgan Chase & Co. (JPM)
JPMorgan Chase & Co. (NYSE:JPM) – Stock analysts at Oppenheimer Holdings raised their FY2016 earnings per share (EPS) estimates for shares of JPMorgan Chase & Co. in a note issued to investors on Friday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the firm will post earnings per share of $5.85 for the year, up from their prior forecast of $5.55. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for JPMorgan Chase & Co.’s FY2017 earnings at $6.22 EPS.
A number of other analysts have also weighed in on JPM. Jefferies Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Sunday, July 17th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Sunday, July 17th. BMO Capital Markets reaffirmed a “buy” rating and set a $74.00 price target (down previously from $77.00) on shares of JPMorgan Chase & Co. in a report on Sunday, July 17th. Barclays PLC reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Saturday, July 9th. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Sunday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $72.35.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 67.52 on Monday. JPMorgan Chase & Co. has a 12-month low of $52.50 and a 12-month high of $69.06. The company has a market cap of $243.85 billion, a price-to-earnings ratio of 11.44 and a beta of 1.54. The company’s 50-day moving average is $67.03 and its 200-day moving average is $64.01.
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JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 14th. The financial services provider reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.19. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $23.99 billion. JPMorgan Chase & Co. had a net margin of 22.92% and a return on equity of 10.47%. JPMorgan Chase & Co.’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS.
A number of hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new stake in JPMorgan Chase & Co. during the second quarter worth $546,431,000. Primecap Management Co. CA raised its stake in JPMorgan Chase & Co. by 43.5% in the first quarter. Primecap Management Co. CA now owns 20,518,581 shares of the financial services provider’s stock worth $1,215,110,000 after buying an additional 6,218,550 shares during the period. Franklin Resources Inc. raised its stake in JPMorgan Chase & Co. by 15.6% in the first quarter. Franklin Resources Inc. now owns 42,060,882 shares of the financial services provider’s stock worth $2,490,856,000 after buying an additional 5,685,864 shares during the period. Vanguard Group Inc. raised its stake in JPMorgan Chase & Co. by 2.1% in the second quarter. Vanguard Group Inc. now owns 229,636,598 shares of the financial services provider’s stock worth $14,269,618,000 after buying an additional 4,692,609 shares during the period. Finally, Winslow Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth $221,862,000. 73.41% of the stock is owned by institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Tuesday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.10%.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
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