JPMorgan Chase & Co. (NYSE:JPM) Expected to Post Q3 2024 Earnings of $4.02 Per Share

JPMorgan Chase & Co. (NYSE:JPM) – Equities research analysts at Seaport Res Ptn lifted their Q3 2024 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a report released on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will earn $4.02 per share for the quarter, up from their prior forecast of $3.99. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $16.72 per share. Seaport Res Ptn also issued estimates for JPMorgan Chase & Co.’s Q4 2024 earnings at $3.74 EPS and Q1 2025 earnings at $4.24 EPS.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the prior year, the company earned $4.37 EPS.

A number of other equities research analysts have also weighed in on JPM. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Jefferies Financial Group lifted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

JPMorgan Chase & Co. Stock Up 3.5 %

Shares of NYSE JPM opened at $211.22 on Friday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50 day simple moving average is $211.30 and its two-hundred day simple moving average is $203.09. The stock has a market capitalization of $606.55 billion, a P/E ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.37%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Retirement Group LLC lifted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the first quarter worth $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.