Equities Analysts Offer Predictions for JPM FY2024 Earnings

JPMorgan Chase & Co. (NYSE:JPM) – Equities research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a research note issued on Monday, December 16th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $17.13 per share for the year, up from their previous estimate of $17.11. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $17.62 per share. Zacks Research also issued estimates for JPMorgan Chase & Co.’s Q4 2024 earnings at $3.73 EPS, Q1 2025 earnings at $4.00 EPS, Q2 2025 earnings at $4.09 EPS, Q3 2025 earnings at $4.08 EPS and Q3 2026 earnings at $4.47 EPS.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.33 EPS.

Several other brokerages also recently issued reports on JPM. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Daiwa Capital Markets lowered their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $232.96 on Wednesday. The stock has a market capitalization of $655.86 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $164.30 and a 52 week high of $254.31. The stock has a 50 day moving average price of $235.96 and a 200 day moving average price of $217.63. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of JPM. Accredited Investors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares during the period. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the period. Kingsview Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after acquiring an additional 267 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

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.