J P Morgan Chase & Co (JPM) Expected to Announce Quarterly Sales of $25.23 Billion
Wall Street analysts predict that J P Morgan Chase & Co (NYSE:JPM) will announce $25.23 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for J P Morgan Chase & Co’s earnings. The highest sales estimate is $25.76 billion and the lowest is $24.92 billion. J P Morgan Chase & Co reported sales of $24.67 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The firm is expected to announce its next earnings report before the market opens on Thursday, October 12th.
On average, analysts expect that J P Morgan Chase & Co will report full-year sales of $25.23 billion for the current fiscal year, with estimates ranging from $99.58 billion to $103.93 billion. For the next year, analysts forecast that the business will post sales of $108.17 billion per share, with estimates ranging from $105.55 billion to $111.11 billion. Zacks Investment Research’s sales 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 (EPS) for the quarter, beating the 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm posted $1.55 EPS. The firm’s revenue was up 4.6% on a year-over-year basis.
Several research analysts have recently issued reports on the stock. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $93.00 target price on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Wells Fargo & Company assumed coverage on J P Morgan Chase & Co in a research report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price objective for the company. Buckingham Research reissued a “neutral” rating and set a $100.00 price objective (up previously from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Berenberg Bank set a $65.00 price objective on J P Morgan Chase & Co and gave the company a “sell” rating in a research report on Thursday, August 3rd. Finally, BidaskClub raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.59.
In other J P Morgan Chase & Co news, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the transaction, the general counsel now directly owns 10,527 shares in the company, valued at $953,219.85. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock worth $2,605,334 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in J P Morgan Chase & Co by 1.5% in the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after purchasing an additional 3,717,683 shares in the last quarter. State Street Corp boosted its stake in J P Morgan Chase & Co by 0.8% in the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after acquiring an additional 1,357,194 shares during the period. Northern Trust Corp boosted its stake in J P Morgan Chase & Co by 1.8% in the second quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock valued at $4,475,468,000 after acquiring an additional 847,463 shares during the period. Capital Research Global Investors boosted its stake in J P Morgan Chase & Co by 2.5% in the second quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock valued at $2,898,729,000 after acquiring an additional 765,082 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in J P Morgan Chase & Co by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock valued at $2,621,677,000 after acquiring an additional 176,306 shares during the period. Institutional investors own 78.02% of the company’s stock.
Shares of J P Morgan Chase & Co (NYSE:JPM) opened at 91.62 on Friday. The firm’s 50-day moving average is $91.54 and its 200-day moving average is $89.03. The company has a market capitalization of $322.36 billion, a price-to-earnings ratio of 13.52 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.22.
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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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