Zacks: Brokerages Expect J P Morgan Chase & Co (JPM) Will Announce Earnings of $1.69 Per Share
Brokerages expect J P Morgan Chase & Co (NYSE:JPM) to post earnings per share of $1.69 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for J P Morgan Chase & Co’s earnings. The highest EPS estimate is $1.78 and the lowest is $1.63. J P Morgan Chase & Co posted earnings per share of $1.58 during the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The company is expected to announce its next earnings results before the market opens on Thursday, October 12th.
According to Zacks, analysts expect that J P Morgan Chase & Co will report full-year earnings of $6.83 per share for the current fiscal year, with EPS estimates ranging from $6.72 to $6.93. For the next year, analysts anticipate that the firm will post earnings of $7.71 per share, with EPS estimates ranging from $7.35 to $8.05. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for J P Morgan Chase & Co.
J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 earnings per share.
A number of equities research analysts recently commented on JPM shares. Buckingham Research reissued a “neutral” rating and set a $100.00 target price (up previously from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Bank of America Corporation reissued an “outperform” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Wednesday, June 21st. Keefe, Bruyette & Woods set a $96.00 target price on shares of J P Morgan Chase & Co and gave the company a “hold” rating in a research report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $93.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Finally, Vetr cut shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating and set a $93.14 target price for the company. in a research report on Tuesday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. J P Morgan Chase & Co currently has an average rating of “Hold” and a consensus target price of $85.59.
In other J P Morgan Chase & Co news, insider Nicole Giles sold 1,000 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the transaction, the insider now directly owns 3,783 shares of the company’s stock, valued at $345,350.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,564 shares of company stock worth $2,605,334. Insiders own 0.88% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Private Vista LLC purchased a new position in J P Morgan Chase & Co during the second quarter valued at $102,000. Pacific Center for Financial Services lifted its stake in shares of J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after buying an additional 177 shares in the last quarter. Atlantic Trust LLC purchased a new position in shares of J P Morgan Chase & Co in the second quarter worth about $136,000. Horrell Capital Management Inc. lifted its stake in shares of J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock worth $145,000 after buying an additional 78 shares in the last quarter. Finally, Ullmann Financial Group Inc. purchased a new position in shares of J P Morgan Chase & Co in the first quarter worth about $148,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.
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Shares of J P Morgan Chase & Co (NYSE:JPM) traded down 0.16% during midday trading on Thursday, hitting $91.00. 10,562,826 shares of the company traded hands. The company has a 50-day moving average price of $91.53 and a 200-day moving average price of $89.02. J P Morgan Chase & Co has a 52 week low of $65.11 and a 52 week high of $95.22. The stock has a market capitalization of $320.18 billion, a P/E ratio of 13.42 and a beta of 1.19.
J P Morgan Chase & Co Company Profile
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.
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