$27.10 Billion in Sales Expected for JPMorgan Chase & Co. (JPM) This Quarter
Equities analysts expect JPMorgan Chase & Co. (NYSE:JPM) to post $27.10 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for JPMorgan Chase & Co.’s earnings. The highest sales estimate is $27.25 billion and the lowest is $27.00 billion. JPMorgan Chase & Co. reported sales of $24.15 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The firm is expected to report its next earnings report on Friday, January 11th.
On average, analysts expect that JPMorgan Chase & Co. will report full-year sales of $109.73 billion for the current financial year, with estimates ranging from $109.10 billion to $110.17 billion. For the next year, analysts anticipate that the company will post sales of $114.54 billion, with estimates ranging from $114.46 billion to $114.68 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow 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, topping the Zacks’ consensus estimate of $2.24 by $0.10. The company had revenue of $27.26 billion for the quarter, compared to analyst estimates of $27.20 billion. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. During the same period in the prior year, the firm earned $1.76 earnings per share.
Shares of NYSE:JPM opened at $109.21 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $377.48 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $97.76 and a 1 year high of $119.33.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.93%. JPMorgan Chase & Co.’s payout ratio is currently 46.58%.
In related news, Director Mellody L. Hobson acquired 1,150 shares of the stock in a transaction dated Friday, October 19th. The stock was acquired at an average cost of $108.94 per share, with a total value of $125,281.00. Following the completion of the transaction, the director now owns 2,632 shares in the company, valued at approximately $286,730.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the third quarter. Albion Financial Group UT now owns 137,850 shares of the financial services provider’s stock valued at $15,555,000 after acquiring an additional 999 shares during the period. Coe Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. Coe Capital Management LLC now owns 28,496 shares of the financial services provider’s stock worth $3,215,000 after purchasing an additional 2,045 shares during the last quarter. Griffin Asset Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 6.7% during the third quarter. Griffin Asset Management Inc. now owns 68,413 shares of the financial services provider’s stock worth $7,720,000 after purchasing an additional 4,289 shares during the last quarter. B. Riley Wealth Management Inc. purchased a new position in JPMorgan Chase & Co. in the third quarter worth $1,450,000. Finally, Kentucky Retirement Systems purchased a new position in JPMorgan Chase & Co. in the third quarter worth $18,150,000. 69.14% 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, 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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