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JPMorgan Chase & Co. (JPM) - free report >>
The PNC Financial Services Group, Inc (PNC) - free report >>
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JPMorgan Chase & Co. (JPM) - free report >>
The PNC Financial Services Group, Inc (PNC) - free report >>
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Financial Sector Stock Earnings in Focus: JPM, PNC, USB
The banking sector was a prime target for many investors to start the year thanks to the prospect of multiple interest rate hikes, and a widening spread between long and short term rates. But with the Brexit and global market uncertainty, those hopes have been dashed, along with dreams of fat bank profits.
This could make the coming earnings season a very dicey one for banking stocks, and especially their outlooks. Let’s take a look at three bellwethers, and how their reports are shaping up for the impending earnings season:
The first company we are taking a look at is US Bancorp (USB - Free Report) which reports before the bell on Friday. This company has a Zacks Rank #4 (sell) and a negative earnings ESP, largely thanks to the sluggish rate environment. However, USB hasn’t missed estimates in five years, so expectations are definitely high heading into their results.
US BANCORP Price and EPS Surprise
US BANCORP Price and EPS Surprise | US BANCORP Quote
Next up is PNC Financial (PNC - Free Report) which also reports before the bell on Friday. Much like its counterpart USB, this stock has a Zacks Rank #4 (sell) and it has been crushed by the weak interest rate outlook. This company also has a decent track record in earnings season, but it is coming off a miss in its last report. Estimates have come down a lot for this name too, but it is going to be a question of if they have fallen too far, or not enough.
PNC FINL SVC CP Price and Consensus
PNC FINL SVC CP Price and Consensus | PNC FINL SVC CP Quote
Lastly, we have JP Morgan (JPM - Free Report) which is a bit more diversified than its counterparts. This may be part of the reason why JPM has managed to get a Zacks Rank #3 (hold) and stay out of ‘sell’ territory. Still, the stock has seen earnings estimates tumble heading into the report, while the full year outlook for the stock isn’t great, making the outlook key for this company (to see how to trade JPM earnings make sure to watch our live options video on Wednesday at 2pm Eastern).
JPMORGAN CHASE Price and Consensus
JPMORGAN CHASE Price and Consensus | JPMORGAN CHASE Quote
For more information on these companies and how we expect them to do this earnings season, make sure to watch our short video. And for an in-depth guide on what to look for when trading ahead of earnings reports, listen to our podcast below: