Global financial services giant JPMorgan Chase (NYSE:JPM) will be reporting results this Tuesday morning. Here’s what investors should know.
JPMorgan Chase beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $44.91 billion, down 10.5% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ revenue estimates but a miss of analysts’ net interest income estimates.
Is JPMorgan Chase a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting JPMorgan Chase’s revenue to grow 6.2% year on year to $45.28 billion, in line with the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.87 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. JPMorgan Chase has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.3% on average.
With JPMorgan Chase being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for banks stocks. However, the whole sector has faced a sell-off over the last month with stocks in JPMorgan Chase’s peer group down 6.1% on average. JPMorgan Chase is down 2.8% during the same time and is heading into earnings with an average analyst price target of $322.09 (compared to the current share price of $300.12).
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