Banking, finance, and taxes
What to Watch in JPMorgan Earnings Friday
Published:
Last Updated:
JPMorgan Chase & Co. (NYSE: JPM) is scheduled to release its third-quarter results before the markets open on Friday. Thomson Reuters consensus estimates are calling for $2.25 in earnings per share (EPS) and $27.5 billion in revenue. The same period of last year reportedly had $1.76 in EPS and $26.2 billion in revenue.
In the previous quarter, the company issued guidance calling for $2.26 in EPS on revenues of $27.47 billion for the third quarter.
Management sees good global economic growth, particularly in the United States, where consumer and business sentiment is high. Because of this broad growth and the strong underlying performance across each of its businesses, the bank delivered record results in the second quarter.
Currently, JPMorgan stock trades at a very reasonable 11.1 times estimated 2019 earnings and also could respond well in a rising rate scenario. This bank is one of the leading global financial services firms and one of the largest banking institutions in the United States, with about $2.6 trillion in assets.
Overall, JPMorgan has outperformed the broad markets, with its stock up about 15% in the past 52 weeks. In just 2018 alone, the stock is up only 4%.
A few analysts weighed in on JPMorgan ahead of the report:
- Citigroup has a Neutral rating and a $125 price target.
- Wolfe Research has an Outperform rating.
- Merrill Lynch has a Buy rating with a $132 price objective.
- Goldman Sachs has a Neutral rating and a $128 price target.
- UBS Group has a Buy rating.
Shares of JPMorgan were last seen at $111.33, with a consensus analyst price target of $121.94 and a 52-week range of $94.96 to $119.33.
24/7 Wall St.The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
