J P Morgan Chase & Co (JPM) Expected to Post Earnings of $1.70 Per Share
Brokerages expect that J P Morgan Chase & Co (NYSE:JPM) will report earnings of $1.70 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for J P Morgan Chase & Co’s earnings, with estimates ranging from $1.63 to $1.78. J P Morgan Chase & Co posted earnings of $1.58 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 12th.
On average, analysts expect that J P Morgan Chase & Co will report full year earnings of $6.82 per share for the current year, with EPS estimates ranging from $6.67 to $7.00. For the next year, analysts anticipate that the company will post earnings of $7.72 per share, with EPS estimates ranging from $7.35 to $8.05. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow J P Morgan Chase & Co.
J P Morgan Chase & Co (NYSE:JPM) last released its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis.
A number of research firms recently commented on JPM. BidaskClub upgraded J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods increased their price objective on J P Morgan Chase & Co to $47.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Vetr downgraded J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price objective on the stock. in a report on Monday, June 12th. Vining Sparks upgraded J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price objective on the stock in a report on Thursday, April 27th. Finally, Zacks Investment Research downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.71.
J P Morgan Chase & Co (JPM) traded down 0.36% during midday trading on Tuesday, hitting $93.68. 13,745,366 shares of the company traded hands. J P Morgan Chase & Co has a 12-month low of $64.86 and a 12-month high of $95.22. The company has a market cap of $329.66 billion, a PE ratio of 13.82 and a beta of 1.19. The stock has a 50 day moving average price of $91.05 and a 200-day moving average price of $88.16.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, July 3rd. This represents a $2.00 annualized dividend and a yield of 2.13%. J P Morgan Chase & Co’s dividend payout ratio is currently 29.59%.
ILLEGAL ACTIVITY NOTICE: “J P Morgan Chase & Co (JPM) Expected to Post Earnings of $1.70 Per Share” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/08/08/j-p-morgan-chase-co-jpm-expected-to-post-earnings-of-1-70-per-share.html.
In other J P Morgan Chase & Co news, insider Ashley Bacon sold 6,514 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $87.21, for a total transaction of $568,085.94. Following the completion of the transaction, the insider now directly owns 47,384 shares in the company, valued at $4,132,358.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. Insiders have sold 25,110 shares of company stock valued at $2,270,818 over the last quarter. Corporate insiders own 0.85% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $3,128,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of J P Morgan Chase & Co during the first quarter worth $1,367,000. Michael & Susan Dell Foundation acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $42,343,000. Guggenheim Capital LLC raised its stake in shares of J P Morgan Chase & Co by 5.9% in the fourth quarter. Guggenheim Capital LLC now owns 1,234,560 shares of the financial services provider’s stock worth $106,530,000 after buying an additional 68,720 shares during the period. Finally, Israel Discount Bank of New York GFN acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $1,857,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.
About J P Morgan 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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.