$24.80 Billion in Sales Expected for J P Morgan Chase & Co (JPM) This Quarter
Brokerages expect J P Morgan Chase & Co (NYSE:JPM) to post $24.80 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for J P Morgan Chase & Co’s earnings. The highest sales estimate is $25.23 billion and the lowest is $24.56 billion. J P Morgan Chase & Co reported sales of $23.38 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The firm is scheduled to announce its next earnings results 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 year, analysts expect that the firm will report sales of $107.50 billion per share, with estimates ranging from $104.56 billion to $111.73 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.09. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The business had revenue of $25.33 billion for the quarter, compared to analyst estimates of $24.91 billion. During the same period in the previous year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.
JPM has been the topic of a number of analyst reports. Bank of America Corporation reaffirmed a “buy” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Zacks Investment Research raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of J P Morgan Chase & Co in a research note on Friday, July 21st. BidaskClub downgraded J P Morgan Chase & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Berenberg Bank set a $65.00 price target on J P Morgan Chase & Co and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $91.83.
In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total value of $214,014.04. Following the transaction, the general counsel now owns 15,279 shares of the company’s stock, valued at $1,557,846.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in J P Morgan Chase & Co by 517.3% during 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 during the period. Stifel Financial Corp raised its stake in J P Morgan Chase & Co by 9,301.6% during the 3rd quarter. Stifel Financial Corp now owns 4,351,736 shares of the financial services provider’s stock valued at $415,662,000 after purchasing an additional 4,305,449 shares during the period. Alliancebernstein L.P. raised its stake in J P Morgan Chase & Co by 29.2% during the 2nd quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock valued at $1,595,542,000 after purchasing an additional 3,945,948 shares during the period. Vanguard Group Inc. raised its stake in J P Morgan Chase & Co by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after purchasing an additional 3,717,683 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of J P Morgan Chase & Co by 40.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock valued at $892,886,000 after acquiring an additional 2,828,726 shares in the last quarter. 78.97% of the stock is currently owned by institutional investors.
Shares of J P Morgan Chase & Co (NYSE JPM) traded down $0.12 during midday trading on Monday, hitting $97.51. The stock had a trading volume of 9,314,000 shares, compared to its average volume of 14,005,554. J P Morgan Chase & Co has a twelve month low of $75.77 and a twelve month high of $102.42. The stock has a market capitalization of $338,332.97, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.30%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio is currently 32.28%.
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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.
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