A new earnings reporting season kicks off this week, with the big banks leading the way. Although coronavirus concerns have been minimized as the broad markets have stabilized, there still will be an impact on these reports.
Banks will be central in leading the economic recovery, through small business lending, among other things. The numbers that these institutions post will be an important barometer for what comes next.
24/7 Wall St. has put together a preview of some of the major financial companies kicking off the new earnings reporting season.
Also see our separate preview of Johnson & Johnson, Netflix, PepsiCo and others also on deck to share their latest quarterly results this week.
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Citigroup Inc. (NYSE: C | C Price Prediction) is expected to reveal its second-quarter results on Tuesday before the open. The consensus estimates call for $0.29 in earnings per share (EPS), as well as $19.11 billion in revenue. Citigroup stock was trading most recently at $52.65 a share. The consensus price target is $69.25. The stock has a 52-week trading range of $32.00 to $83.11.
JPMorgan Chase & Co. (NYSE: JPM) also is scheduled to reveal its first-quarter results before regular trading begins on Tuesday. The consensus estimates call for EPS of $1.19 and $30.29 billion in revenue. Shares closed trading on Friday at $96.27. The consensus price target is $112.72. The stock has a 52-week trading range of $76.71 to $141.10.
Wells Fargo & Co. (NYSE: WFC) is set to report its second-quarter results before the opening bell on Tuesday as well. Analysts expect to see a net loss of $0.11 per share and revenue of $18.43 billion. Wells Fargo stock ended last week at $25.47 per share, and the consensus target price is $29.93. The 52-week trading range is $22.00 to $54.75.
The Goldman Sachs Group Inc. (NYSE: GS) second-quarter report is due on Wednesday before the open. The consensus forecast calls for $3.70 in EPS on revenue of $9.57 billion. Shares were trading at $205.56 on Friday’s close, and the analysts’ mean price target is $234.00. The 52-week trading range is $130.85 to $250.46.
Bank of America Corp. (NYSE: BAC) is reporting its results first thing Thursday. The consensus estimates are EPS of $0.27 and $22.01 billion in revenue. Shares were changing hands at $24.02 on last look. The consensus price target is $28.53, and the stock has a 52-week range of $17.95 to $35.72.
Watch for Morgan Stanley’s (NYSE: MS) most recent quarterly results on Thursday morning. The consensus second-quarter forecast is $1.09 in EPS and $10.12 billion in revenue. Morgan Stanley stock ended the week at $49.80 a share. The consensus price target is $53.75, and the share price has ranged from $27.20 to $57.57 in the past 52 weeks.
Truist Financial Corp. (NYSE: TFC), formed by the merger of BB&T and SunTrust, will share its latest results early Thursday as well. The consensus forecast for its second quarter sees EPS coming in at $0.71 while revenue is $5.52 billion. Shares have changed hands at between $24.01 and $56.92 in the past year, and they were last trading at $35.20 apiece.
And BlackRock Inc. (NYSE: BLK) is expected to reveal its first-quarter results on Friday before the open. The consensus estimates call for $6.83 in EPS, as well as $3.42 billion in revenue. The stock was trading most recently at $554.08 per share. The consensus price target is $595.14. The stock has a 52-week trading range of $323.98 to $576.81.
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