Banking, finance, and taxes

JPMorgan, Wells Fargo, Citigroup, Goldman Sachs and More Major Financial Earnings This Week

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Practically all the major banks are reporting their second-quarter financial results this week. In general, financial stocks have made solid gains so far this year, despite a tumultuous May. At the same time, the Federal Reserve has proven to be more hawkish with potential rate cuts to come.

24/7 Wall St. has put together a preview of some of the major financial companies kicking off the new earnings reporting season. Markets have risen to record highs, and results from these major banks can set the tone for earnings going forward.

Here, we have included the consensus earnings estimates, stock price and trading history, as well as some additional color on each.

Citigroup Inc. (NYSE: C) is scheduled to reveal its second-quarter results on Monday. The consensus estimates call for $1.81 in earnings per share (EPS), as well as $18.49 billion in revenue. Shares ended trading at $71.77 on Friday. The consensus price target is $80.84. The stock has a 52-week trading range of $48.42 to $75.24.

JPMorgan Chase & Co. (NYSE: JPM) is set to report its second-quarter results on Tuesday. The analysts’ consensus estimates are EPS of $2.50 and $28.91 billion in revenue. Shares were changing hands at $115.30 on Friday’s close. The consensus price target is $118.80, and the stock has a 52-week range of $91.11 to $119.24.

Wells Fargo & Co. (NYSE: WFC) is expected to report its most recent quarterly results on Tuesday. The consensus analyst estimates call for $1.15 in EPS and revenue of $20.94 billion. Shares of Wells Fargo closed at $47.36 on Friday. The consensus price target is $51.12. The 52-week trading range is $43.02 to $59.53.

Goldman Sachs Group Inc. (NYSE: GS) is scheduled to report its second-quarter results early Tuesday as well. The consensus forecast calls for $5.00 in EPS and revenue of $8.91 billion. Shares were changing hands at $213.94 on last look. The analysts’ mean price target is $230.95, and the 52-week trading range is $151.70 to $245.08.

Bank of America Corp. (NYSE: BAC) is scheduled to report its second-quarter results on Wednesday. The consensus estimates call for $0.71 in EPS and revenue of $23.25 billion. On Friday’s close, shares were trading at $29.49 apiece. The consensus price target is $33.13, and the 52-week trading range is $22.66 to $31.91.

Watch for Morgan Stanley (NYSE: MS) to release its most recent quarterly results on Thursday. The consensus second-quarter forecast is $1.16 in EPS and $10.03 billion in revenue. Shares were last seen trading at $44.87. The consensus price target is $53.57, and the share price has ranged from $36.74 to $51.53 in the past 52 weeks.

American Express Co. (NYSE: AXP) is scheduled to report its second-quarter earnings Friday morning. The consensus estimates call for $2.03 in EPS and revenue of $10.82 billion. Shares were last changing hands at $127.96. The analysts’ mean price target is $128.04, and the 52-week trading range is $89.05 to $128.42.

Look for Synchrony Financial (NYSE: SYF) to share its most recent quarterly results before Friday’s open. The consensus forecast calls for $0.95 in EPS and $4.24 billion in revenue for the second quarter. Shares ended the week at $35.96. The consensus price target is $38.88, and shares have traded between $21.77 and $36.12 in the past 52 weeks.

Also check our preview of Johnson & Johnson, Microsoft, Netflix and other earnings reports expected this week.


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