Banking, finance, and taxes
Big Banks in the Spotlight as Earnings Season Rolls Out
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The first-quarter earnings reporting season is off to the races this week, after kicking off last week with strong results from JPMorgan and Wells Fargo.
24/7 Wall St. has put together a preview of some of the big banks and other financial giants reporting their quarterly results this week, as they help set expectations for the new earnings season and a direction for the market. We have included the consensus earnings estimates from Refinitiv (Thomson Reuters) and the stock price and trading history on each.
Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.
Citigroup Inc. (NYSE: C) is expected to report its first-quarter results first thing Monday morning. The consensus forecast sees $1.80 in earnings per share (EPS) on $18.63 billion in revenue. Shares were changing hands most recently at $67.42. The consensus price target is $77.60, and the stock has a 52-week trading range of $48.42 to $75.24.
Goldman Sachs Group Inc. (NYSE: GS) will post its latest quarterly earnings early Monday. The consensus estimates call for EPS of $4.89 on $9.04 billion in revenue. Shares traded on Friday’s close at $207.84, in a 52-week range of $151.70 to $262.25. The consensus analyst target is $230.43.
M&T Bank Corp. (NYSE: MTB) also will share its latest quarterly earnings on Monday morning. The consensus estimates are a profit of $3.30 per share and $1.51 billion in revenue. The most recent share price was $167.76, in a 52-week range of $133.78 to $187.07. The consensus analyst target is $180.84.
Look for Bank of America Corp. (NYSE: BAC) to reveal its first-quarter results before Tuesday’s opening bell. The consensus estimates call for EPS of $0.65 as well as $23.30 billion in revenue. Shares closed at $30.17 on Friday. The consensus price target is $33.17. The stock has a 52-week trading range of $22.66 to $31.91.
The BlackRock Inc. (NYSE: BLK) first-quarter results are expected Tuesday morning. The analysts’ consensus estimates are EPS of $6.13 and $3.34 billion in revenue. Shares were changing hands at $454.35 as the week came to a close. The consensus price target is $486.75, and the stock has traded in a 52-week range of $360.79 to $557.00.
Wednesday morning, Bank of New York Mellon Corp. (NYSE: BK) is scheduled to report its most recent quarter results. The consensus analyst estimates call for $0.96 in EPS and revenue of $4.00 billion. Shares ended the week at $52.81. The consensus price target is $54.00. The 52-week trading range is $43.67 to $58.22.
Morgan Stanley’s (NYSE: MS) first-quarter results are expected before Wednesday’s trading begins. The analysts are looking for EPS of $1.16 and $10.00 billion in revenue. Shares changed hands at $46.69 as Friday came to a close. The consensus price target is $52.07, and the stock has traded between $36.74 and $55.64 in the past year.
Watch for U.S. Bancorp. (NYSE: USB) to reveal its first-quarter results early Wednesday as well. The consensus estimates are $1.00 in EPS, as well as $5.59 billion in revenue. Shares closed at $50.22 on Friday. The consensus price target was last seen at $54.77. The stock has a 52-week trading range of $43.14 to $55.56.
Ally Financial Inc. (NYSE: ALLY) will share its latest quarterly earnings on Thursday morning. The consensus estimates call for a profit of $0.78 per share and revenue of $1.53 billion. The most recent share price was $29.51, which is in a 52-week range of $20.60 to $29.55. The consensus analyst target is $32.84.
American Express Co. (NYSE: AXP) will post its latest quarterly earnings early Thursday. The consensus estimates call for EPS of $1.98 on $10.45 billion in revenue. Shares traded on Friday’s close at $110.91, in a 52-week range of $89.05 to $114.55. The consensus analyst target is $119.05.
The KeyCorp. (NYSE: KEY) first-quarter results also are scheduled for Thursday morning. The analysts’ consensus estimates are $0.41 in EPS and $1.60 billion in revenue. Shares were trading at $16.88 as the week ended. The consensus price target is $19.32, and the 52-week trading range is $13.66 to $21.91.
Regions Financial Corp. (NYSE: RF) will post its latest quarterly earnings early Thursday as well. The consensus estimates call for EPS of $4.89 on $9.04 billion in revenue. Shares traded on Friday’s close at $15.60, in a 52-week range of $12.39 to $19.99. The consensus analyst target is $17.42.
SunTrust Banks Inc. (NYSE: STI) will reveal its latest quarterly earnings Thursday morning. The consensus estimates see a profit of $1.31 per share and $2.33 billion in revenue. The most recent share price was $62.87, in a 52-week range of $46.05 to $75.08. The consensus analyst target is $70.26.
Look for Synchrony Financial (NYSE: SYF) to reveal its first-quarter results before Thursday’s opening bell. The consensus forecast calls for EPS of $0.89, as well as $4.29 billion in revenue. Shares closed at $33.00 on Friday. The consensus price target is $37.17. The stock has a 52-week trading range of $21.77 to $36.32.
The Travelers Companies Inc. (NYSE: TRV) first-quarter results also are expected Thursday morning. The analysts’ consensus estimates call for EPS of $2.74 and $7.11 billion in revenue. Shares were changing hands at $137.72 as the week’s trading came to a close. The consensus price target is $138.19, and the stock has a 52-week range of $111.08 to $138.99.
And BB&T Corp.’s (NYSE: BBT) first-quarter results are expected after Thursday’s trading session concludes. The analysts are looking for EPS of $1.03 and $2.93 billion in revenue. Shares changed hands at $49.26 as Friday concluded. The consensus price target is $55.41, and the stock has traded between $40.68 and $56.03 in the past year.
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