Wall Street analysts expect JPMorgan Chase & Co. (NYSE:JPM) to report $27.70 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for JPMorgan Chase & Co.’s earnings. The lowest sales estimate is $27.46 billion and the highest is $27.93 billion. JPMorgan Chase & Co. reported sales of $25.33 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 11th.
According to Zacks, analysts expect that JPMorgan Chase & Co. will report full year sales of $111.03 billion for the current financial year, with estimates ranging from $109.81 billion to $112.31 billion. For the next year, analysts anticipate that the business will post sales of $116.25 billion per share, with estimates ranging from $114.43 billion to $117.30 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow JPMorgan Chase & Co..
Several research firms recently commented on JPM. Royal Bank of Canada restated a “buy” rating and set a $120.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Goldman Sachs Group set a $128.00 price target on shares of JPMorgan Chase & Co. and gave the company a “neutral” rating in a research report on Monday, July 23rd. Societe Generale restated a “neutral” rating and set a $119.50 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Finally, Credit Suisse Group set a $130.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $120.23.
JPM stock remained flat at $$114.77 during midday trading on Thursday. 8,503,910 shares of the company traded hands, compared to its average volume of 14,707,265. The firm has a market capitalization of $397.18 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. JPMorgan Chase & Co. has a 52 week low of $88.08 and a 52 week high of $119.33.
In other 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Chase & Co Jpmorgan bought 22,000 shares of the company’s stock in a transaction dated Thursday, May 31st. The stock was bought at an average price of $1,000.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. 0.73% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Keeler Thomas Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $112,000. Price Wealth Management Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $124,000. Quad Cities Investment Group LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $124,000. Ballew Advisors Inc boosted its position in JPMorgan Chase & Co. by 104.2% during 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 last quarter. Finally, Financial Gravity Wealth Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $150,000. Institutional investors and hedge funds own 72.00% of the company’s stock.
About JPMorgan Chase & Co.
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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