Analysts expect J P Morgan Chase & Co (NYSE:JPM) to post $25.40 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for J P Morgan Chase & Co’s earnings. The highest sales estimate is $25.83 billion and the lowest is $25.01 billion. J P Morgan Chase & Co posted sales of $24.67 billion during the same quarter last year, which suggests a positive year over year growth rate of 3%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, October 12th.
According to Zacks, analysts expect that J P Morgan Chase & Co will report full-year sales of $25.40 billion for the current year, with estimates ranging from $100.16 billion to $103.84 billion. For the next fiscal year, analysts expect that the firm will report sales of $108.23 billion per share, with estimates ranging from $105.55 billion to $111.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover J P Morgan Chase & Co.
J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 EPS.
Several brokerages have recently weighed in on JPM. Citigroup Inc. lifted their target price on shares of J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday. Royal Bank Of Canada reiterated a “buy” rating and set a $95.00 target price on shares of J P Morgan Chase & Co in a research report on Friday, August 18th. Deutsche Bank AG lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating and lifted their target price for the company from $90.00 to $96.00 in a research report on Tuesday, September 26th. BidaskClub lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Berenberg Bank set a $65.00 target price on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $88.64.
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In related news, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the transaction, the general counsel now owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,564 shares of company stock valued at $2,605,334. Corporate insiders own 0.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of JPM. Private Vista LLC acquired a new position in J P Morgan Chase & Co during the second quarter valued at approximately $102,000. Pacific Center for Financial Services grew its holdings in J P Morgan Chase & Co by 14.5% during the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 177 shares during the period. Atlantic Trust LLC acquired a new position in J P Morgan Chase & Co during the second quarter valued at approximately $136,000. Ullmann Financial Group Inc. acquired a new position in J P Morgan Chase & Co during the first quarter valued at approximately $148,000. Finally, Northwest Investment Counselors LLC acquired a new position in J P Morgan Chase & Co during the second quarter valued at approximately $165,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Shares of J P Morgan Chase & Co (NYSE JPM) traded down 0.18% during midday trading on Thursday, hitting $96.92. 10,231,853 shares of the stock were exchanged. The firm has a market cap of $341.01 billion, a P/E ratio of 14.30 and a beta of 1.18. The stock’s 50 day moving average is $92.72 and its 200 day moving average is $89.44. J P Morgan Chase & Co has a 12-month low of $66.74 and a 12-month high of $97.64.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, October 5th. J P Morgan Chase & Co’s payout ratio is 33.14%.
About J P Morgan Chase & Co
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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