Jefferies Group Comments on JPMorgan Chase & Co.’s Q1 2018 Earnings (JPM)
JPMorgan Chase & Co. (NYSE:JPM) – Stock analysts at Jefferies Group lifted their Q1 2018 earnings per share estimates for shares of JPMorgan Chase & Co. in a research report issued to clients and investors on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings of $2.12 per share for the quarter, up from their previous estimate of $2.04. Jefferies Group has a “Buy” rating and a $111.00 price objective on the stock. Jefferies Group also issued estimates for JPMorgan Chase & Co.’s Q2 2018 earnings at $2.13 EPS and Q3 2018 earnings at $2.24 EPS.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The company had revenue of $24.15 billion during the quarter, compared to analysts’ expectations of $24.87 billion. During the same period last year, the company posted $1.71 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 3.3% on a year-over-year basis.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up $0.25 during trading hours on Wednesday, hitting $112.52. 6,097,972 shares of the company’s stock were exchanged, compared to its average volume of 14,460,000. JPMorgan Chase & Co. has a 1-year low of $81.64 and a 1-year high of $113.43. The stock has a market cap of $389,820.00, a PE ratio of 17.64, a P/E/G ratio of 2.01 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $2.24 annualized dividend and a dividend yield of 1.99%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.11%.
In related news, General Counsel Stacey Friedman sold 2,099 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares in the company, valued at approximately $1,557,846.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in shares of JPMorgan Chase & Co. by 517.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock valued at $507,632,000 after purchasing an additional 4,654,113 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of JPMorgan Chase & Co. by 9,301.6% during the third quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock worth $415,662,000 after buying an additional 4,305,449 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of JPMorgan Chase & Co. by 29.2% during the second quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock worth $1,595,542,000 after buying an additional 3,945,948 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.5% during 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 buying an additional 3,717,683 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of JPMorgan Chase & Co. by 40.8% during the second quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock worth $892,886,000 after buying an additional 2,828,726 shares in the last quarter. Institutional investors own 73.78% of the company’s stock.
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JPMorgan 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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