Analysts Issue Forecasts for JPMorgan Chase & Co.’s Q2 2020 Earnings (NYSE:JPM)
JPMorgan Chase & Co. (NYSE:JPM) – Stock analysts at Piper Sandler lowered their Q2 2020 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a research note issued to investors on Wednesday, July 8th. Piper Sandler analyst J. Harte now anticipates that the financial services provider will post earnings of $1.26 per share for the quarter, down from their prior estimate of $1.73. Piper Sandler currently has a “Overweight” rating and a $115.00 price target on the stock. Piper Sandler also issued estimates for JPMorgan Chase & Co.’s Q3 2020 earnings at $1.85 EPS, Q4 2020 earnings at $2.10 EPS and Q1 2021 earnings at $2.43 EPS.
Other analysts have also issued research reports about the company. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $105.75 target price for the company in a report on Wednesday, May 20th. BMO Capital Markets reduced their target price on JPMorgan Chase & Co. from $117.00 to $101.00 and set a “market perform” rating for the company in a report on Wednesday, April 15th. Credit Suisse Group set a $122.00 target price on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Monday, May 18th. TheStreet lowered JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a report on Monday, May 11th. Finally, Deutsche Bank reaffirmed a “neutral” rating and issued a $105.00 price objective (down previously from $130.00) on shares of JPMorgan Chase & Co. in a report on Thursday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $111.99.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($1.92). The business had revenue of $28.25 billion during the quarter, compared to the consensus estimate of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 EPS.
Several large investors have recently bought and sold shares of JPM. Quadrant Capital Group LLC lifted its position in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Quadrant Capital Group LLC now owns 56,661 shares of the financial services provider’s stock worth $7,860,000 after buying an additional 5,664 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $3,204,000. Vigilare Wealth Management purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $3,540,000. Sequoia Financial Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 32,393 shares of the financial services provider’s stock worth $4,516,000 after buying an additional 606 shares in the last quarter. Finally, Level Four Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 11.1% during the fourth quarter. Level Four Advisory Services LLC now owns 65,476 shares of the financial services provider’s stock worth $23,043,000 after acquiring an additional 6,568 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.
In other JPMorgan Chase & Co. news, Director Stephen B. Burke acquired 75,000 shares of the stock in a transaction dated Thursday, April 16th. The shares were acquired at an average cost of $87.99 per share, for a total transaction of $6,599,250.00. Following the completion of the transaction, the director now directly owns 150,043 shares of the company’s stock, valued at $13,202,283.57. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 13,027 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total value of $1,187,020.24. Following the completion of the transaction, the insider now owns 137,243 shares in the company, valued at $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $0.90 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $3.60 annualized dividend and a dividend yield of 3.69%. JPMorgan Chase & Co.’s payout ratio is 34.35%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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