Zacks: Brokerages Anticipate JPMorgan Chase & Co. (JPM) Will Post Quarterly Sales of $28.11 Billion

Equities analysts expect that JPMorgan Chase & Co. (NYSE:JPM) will post sales of $28.11 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for JPMorgan Chase & Co.’s earnings. The lowest sales estimate is $27.21 billion and the highest is $29.04 billion. JPMorgan Chase & Co. reported sales of $27.91 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.7%. The business is scheduled to issue its next earnings results on Friday, April 12th.

According to Zacks, analysts expect that JPMorgan Chase & Co. will report full year sales of $114.38 billion for the current financial year, with estimates ranging from $112.17 billion to $116.27 billion. For the next financial year, analysts anticipate that the business will post sales of $118.14 billion, with estimates ranging from $115.37 billion to $120.88 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover JPMorgan Chase & Co..

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.20 by ($0.22). JPMorgan Chase & Co. had a net margin of 24.71% and a return on equity of 14.07%. The firm had revenue of $26.10 billion during the quarter, compared to analysts’ expectations of $26.69 billion. During the same period in the prior year, the company posted $1.76 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year.

A number of brokerages recently issued reports on JPM. Atlantic Securities lowered shares of JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report on Wednesday, December 19th. Barclays reissued a “buy” rating and issued a $140.00 price objective on shares of JPMorgan Chase & Co. in a report on Thursday, February 21st. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $131.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, January 8th. Finally, Daiwa Capital Markets lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $122.87.

Shares of JPM opened at $105.34 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.22. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $119.24. The stock has a market capitalization of $358.26 billion, a P/E ratio of 11.70, a PEG ratio of 1.60 and a beta of 1.12.

In other news, General Counsel Stacey Friedman sold 3,022 shares of the stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $105.00, for a total transaction of $317,310.00. Following the sale, the general counsel now owns 12,519 shares of the company’s stock, valued at $1,314,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas B. Petno sold 11,659 shares of the stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $105.00, for a total transaction of $1,224,195.00. The disclosure for this sale can be found here. Insiders sold 39,191 shares of company stock worth $4,102,110 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $36,000. Acima Private Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $38,000. Smart Portfolios LLC raised its holdings in JPMorgan Chase & Co. by 29.6% in the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 114 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 188.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 542 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 354 shares in the last quarter. Finally, Semmax Financial Advisors Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $56,000. 69.08% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: How a Strangle Strategy is different from a Straddle Strategy

Get a free copy of the Zacks research report on JPMorgan Chase & Co. (JPM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.