$24.80 Billion in Sales Expected for J P Morgan Chase & Co (JPM) This Quarter
Analysts expect J P Morgan Chase & Co (NYSE:JPM) to report $24.80 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for J P Morgan Chase & Co’s earnings, with the lowest sales estimate coming in at $24.56 billion and the highest estimate coming in at $25.23 billion. J P Morgan Chase & Co posted sales of $23.38 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is scheduled to announce its next earnings report on Friday, January 12th.
On average, analysts expect that J P Morgan Chase & Co will report full-year sales of $24.80 billion for the current year, with estimates ranging from $99.80 billion to $104.01 billion. For the next fiscal year, analysts anticipate that the company will post sales of $107.50 billion per share, with estimates ranging from $104.56 billion to $111.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover J P Morgan Chase & Co.
J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The business had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. J P Morgan Chase & Co’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 EPS.
JPM has been the topic of a number of research analyst reports. Credit Suisse Group cut their target price on shares of J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating on the stock in a research report on Thursday, June 29th. Deutsche Bank AG restated a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. BidaskClub upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. 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 research report on Thursday, July 6th. Finally, Buckingham Research restated a “neutral” rating and issued 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. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. J P Morgan Chase & Co currently has an average rating of “Hold” and a consensus target price of $91.66.
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In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the business’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 transaction, the general counsel now directly owns 10,527 shares in the company, valued at $953,219.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Vista LLC purchased a new stake in shares of J P Morgan Chase & Co during the 2nd quarter valued at approximately $102,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of J P Morgan Chase & Co during the 3rd quarter valued at approximately $102,000. Pacific Center for Financial Services lifted its stake in shares of J P Morgan Chase & Co by 14.5% during the 1st quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after buying an additional 177 shares in the last quarter. Atlantic Trust LLC purchased a new stake in shares of J P Morgan Chase & Co during the 2nd quarter valued at approximately $136,000. Finally, Ullmann Financial Group Inc. purchased a new stake in shares of J P Morgan Chase & Co during the 1st quarter valued at approximately $148,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.
Shares of J P Morgan Chase & Co (JPM) traded up 1.70% on Tuesday, hitting $101.03. The stock had a trading volume of 7,681,166 shares. The company has a 50 day moving average of $94.67 and a 200-day moving average of $90.26. J P Morgan Chase & Co has a 12-month low of $67.64 and a 12-month high of $101.19. The firm has a market capitalization of $357.11 billion, a P/E ratio of 14.56 and a beta of 1.18.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.25%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, October 5th. J P Morgan Chase & Co’s payout ratio is presently 32.28%.
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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