Analysts forecast that JPMorgan Chase (NYSE:JPM) will announce earnings per share (EPS) of $2.26 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for JPMorgan Chase’s earnings, with estimates ranging from $2.19 to $2.34. JPMorgan Chase reported earnings of $1.82 per share in the same quarter last year, which indicates a positive year over year growth rate of 24.2%. The business is expected to issue its next quarterly earnings report on Friday, July 13th.
According to Zacks, analysts expect that JPMorgan Chase will report full year earnings of $9.05 per share for the current fiscal year, with EPS estimates ranging from $8.85 to $9.30. For the next financial year, analysts anticipate that the firm will post earnings of $9.79 per share, with EPS estimates ranging from $9.24 to $10.71. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow JPMorgan Chase.
JPMorgan Chase (NYSE:JPM) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.09. JPMorgan Chase had a net margin of 22.53% and a return on equity of 12.60%. The company had revenue of $27.90 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the prior year, the company earned $1.65 EPS. JPMorgan Chase’s revenue was up 12.0% on a year-over-year basis.
A number of analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of JPMorgan Chase from a “market perform” rating to an “outperform” rating and set a $127.00 price objective for the company in a research note on Tuesday, February 13th. ValuEngine raised shares of JPMorgan Chase from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Vetr raised shares of JPMorgan Chase from a “sell” rating to a “hold” rating and set a $105.98 price objective for the company in a research note on Monday, February 12th. Jefferies Group reaffirmed a “buy” rating and set a $122.00 price objective on shares of JPMorgan Chase in a research note on Monday, April 16th. Finally, Zacks Investment Research lowered shares of JPMorgan Chase from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. JPMorgan Chase currently has a consensus rating of “Hold” and an average target price of $112.75.
In other news, Director Mellody L. Hobson acquired 18,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The shares were purchased at an average price of $111.05 per share, for a total transaction of $1,998,900.00. Following the completion of the acquisition, the director now owns 864 shares of the company’s stock, valued at approximately $95,947.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd A. Combs acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average price of $114.61 per share, for a total transaction of $1,489,930.00. Following the acquisition, the director now directly owns 18,277 shares of the company’s stock, valued at approximately $2,094,726.97. The disclosure for this purchase can be found here. Corporate insiders own 0.73% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC grew its holdings in JPMorgan Chase by 4.2% during the third quarter. ETRADE Capital Management LLC now owns 88,152 shares of the financial services provider’s stock valued at $8,419,000 after purchasing an additional 3,513 shares during the last quarter. Osborn Williams & Donohoe LLC boosted its position in shares of JPMorgan Chase by 0.7% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 77,947 shares of the financial services provider’s stock valued at $8,336,000 after acquiring an additional 558 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of JPMorgan Chase by 8.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 286,186 shares of the financial services provider’s stock valued at $27,334,000 after acquiring an additional 22,236 shares during the period. Sei Investments Co. boosted its position in shares of JPMorgan Chase by 3.4% in the third quarter. Sei Investments Co. now owns 2,088,914 shares of the financial services provider’s stock valued at $199,513,000 after acquiring an additional 68,418 shares during the period. Finally, Narwhal Capital Management boosted its position in shares of JPMorgan Chase by 4.6% in the fourth quarter. Narwhal Capital Management now owns 97,459 shares of the financial services provider’s stock valued at $10,422,000 after acquiring an additional 4,285 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.
JPM stock traded down $1.83 during mid-day trading on Friday, reaching $111.13. 11,805,729 shares of the stock traded hands, compared to its average volume of 11,471,382. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19. JPMorgan Chase has a 52-week low of $81.64 and a 52-week high of $119.33. The firm has a market capitalization of $387.67 billion, a PE ratio of 16.18, a P/E/G ratio of 1.87 and a beta of 1.24.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 6th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.02%. JPMorgan Chase’s dividend payout ratio is currently 32.61%.
About JPMorgan Chase
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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