JPMorgan Chase & Co. (JPM) Expected to Announce Quarterly Sales of $26.89 Billion
Wall Street brokerages forecast that JPMorgan Chase & Co. (NYSE:JPM) will post sales of $26.89 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for JPMorgan Chase & Co.’s earnings, with the highest sales estimate coming in at $26.89 billion and the lowest estimate coming in at $26.88 billion. JPMorgan Chase & Co. posted sales of $24.15 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 11.3%. The business is scheduled to issue its next quarterly earnings results on Friday, October 12th.
According to Zacks, analysts expect that JPMorgan Chase & Co. will report full year sales of $109.49 billion for the current year, with estimates ranging from $108.80 billion to $109.99 billion. For the next year, analysts anticipate that the company will post sales of $114.25 billion, with estimates ranging from $113.71 billion to $114.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover JPMorgan Chase & Co..
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The company had revenue of $27.26 billion during the quarter, compared to analysts’ expectations of $27.20 billion. During the same period last year, the company posted $1.76 EPS.
In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 30,725 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. O Brien Wealth Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 1,120.9% in the third quarter. O Brien Wealth Partners LLC now owns 1,111 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,020 shares during the period. Quad Cities Investment Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $124,000. Ballew Advisors Inc grew its stake in shares of JPMorgan Chase & Co. by 104.2% in the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 619 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $150,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $162,000. 70.56% of the stock is owned by institutional investors and hedge funds.
NYSE JPM traded down $1.18 during trading hours on Friday, reaching $106.95. 32,048,399 shares of the company’s stock traded hands, compared to its average volume of 14,428,502. JPMorgan Chase & Co. has a 52-week low of $94.96 and a 52-week high of $119.33. The stock has a market cap of $387.26 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th will be issued a $0.80 dividend. The ex-dividend date is Thursday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 annualized dividend and a yield of 2.99%. JPMorgan Chase & Co.’s payout ratio is 46.58%.
JPMorgan Chase & Co. Company Profile
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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