24/7 Wall St. has put together a preview of some of the major companies reporting their quarterly results this week. We are just entering into a new earnings season, in which major companies will report and set a direction for the market. We have included the consensus earnings estimates from Thomson Reuters and the stock price and trading history, as well as added some additional color 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.
Alcoa
Kicking off the new season, Alcoa Inc. (NYSE: AA) will share its most recent quarterly results on Monday. The consensus estimates call for earnings per share (EPS) of $0.03 and $5.13 billion in revenue. Currently, this company is undergoing a transformative restructuring that appears promising over the long term. However the near term is more of a problem. This well-managed blue-chip materials company is facing challenges from slumping commodity prices, the slowdown in China and unfavorable currency translation.
Shares were trading at $9.38 on the close on Friday, in a 52-week range of $6.14 to $14.29. The stock has a consensus analyst price target of $10.61.
24/7 Wall St.JPMorgan
On Wednesday, JPMorgan Chase & Co. (NYSE: JPM) is scheduled to reveal its first-quarter results. The consensus estimates call for $1.26 in EPS, as well as $23.44 billion in revenue. This company recently added $1.88 billion or so to its buyback plan, a move that saved its weekly performance. The total market cap here is $211.5 billion, and while the $1.88 billion doesn’t sound massive against the market cap, it is actually on top of the $6.4 billion authorized for repurchase last year.
Shares were trading at $57.75 on Friday’s close. The consensus price target is $69.29. The stock has a 52-week trading range of $50.07 to $70.61.
Bank of America
Bank of America Corp. (NYSE: BAC) is expected to report its first-quarter results on Thursday. The analysts’ consensus estimates call for EPS of $0.22 and $21.42 billion in revenue. This company added $800 million, a 20% increase, to its existing buyback authorization of $4 billion. It has been more restricted than it may have preferred in the past under the Federal Reserve’s Comprehensive Capital Analysis and Review, but this seems to be a continued gradual loosening up of its ability to send cash back to shareholders.
Shares were changing hands at $12.88 on Friday’s close. The consensus price target is $17.41, and the stock has a 52-week range of $10.99 to $18.48.
Delta Air Lines
First-quarter results from Delta Air Lines Inc. (NYSE: DAL) also are due on Thursday. The consensus analyst estimates call for $1.30 in EPS and revenue of $9.26 billion. This company declined throughout the 2015 to 2016 crossover, before bottoming out on February 8, 2016 — just days before West Texas Intermediate crude followed suit and also bottomed out around the $25 mark. As oil has recovered, so has this stock.
Shares of Delta ended last week at $46.28. The consensus price target is $64.21. The 52-week range is $34.61 to $52.77.
Wells Fargo
Look for Wells Fargo & Co. (NYSE: WFC) to share its latest quarterly earnings on Thursday as well. The consensus estimates call for $0.98 in EPS and $21.62 billion in revenue. Wells Fargo is a nationwide, diversified, community-based financial services company with $1.8 trillion in assets. The company provides banking, insurance, investments, mortgage and consumer and commercial finance through 8,700 locations, 12,800 ATMs, the Internet and mobile banking, and it has offices in 36 countries to support customers who conduct business in the global economy. Wells Fargo serves one in three households in the United States. This is another stock for investors to look at now for safety and dividends with solid upside potential.
Shares were at $47.08 on Friday’s close, in a 52-week range of $44.50 to $58.77. The stock has a consensus price target of $55.68.
Citigroup
On Friday, Citigroup Inc. (NYSE: C) is set to report its first-quarter results. The analysts’ consensus estimates call for EPS of $1.09 and $17.62 billion in revenue. Unlike the other megabanks though, Citi’s number one credit exposure is transportation and industrial, much of which actually benefits from lower energy prices, so Citi is in good shape here comparatively as it is naturally hedged. At the end of 2007, main exposure was to banks, so indirect exposure to real estate was what brought the bank down.
Shares of Citigroup were changing hands at $40.48 as last week came to a close. The consensus price target is $56.27, and the stock has a 52-week range of $34.52 to $60.95.
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