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JPMorgan Chase & Co. (JPM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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JPMorgan Chase & Co. (JPM - Free Report) closed at $194.82 in the latest trading session, marking a -0.92% move from the prior day. This move lagged the S&P 500's daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.
The company's stock has climbed by 6.86% in the past month, exceeding the Finance sector's gain of 3.08% and the S&P 500's gain of 3.05%.
The investment community will be closely monitoring the performance of JPMorgan Chase & Co. in its forthcoming earnings report. The company is scheduled to release its earnings on April 12, 2024. The company is expected to report EPS of $4.22, up 2.93% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $40.78 billion, indicating a 6.34% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.84 per share and revenue of $160.14 billion, which would represent changes of -2.4% and +1.29%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for JPMorgan Chase & Co. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.21% rise in the Zacks Consensus EPS estimate. At present, JPMorgan Chase & Co. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, JPMorgan Chase & Co. is at present trading with a Forward P/E ratio of 12.41. Its industry sports an average Forward P/E of 11.21, so one might conclude that JPMorgan Chase & Co. is trading at a premium comparatively.
It is also worth noting that JPM currently has a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.64 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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JPMorgan Chase & Co. (JPM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
JPMorgan Chase & Co. (JPM - Free Report) closed at $194.82 in the latest trading session, marking a -0.92% move from the prior day. This move lagged the S&P 500's daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.
The company's stock has climbed by 6.86% in the past month, exceeding the Finance sector's gain of 3.08% and the S&P 500's gain of 3.05%.
The investment community will be closely monitoring the performance of JPMorgan Chase & Co. in its forthcoming earnings report. The company is scheduled to release its earnings on April 12, 2024. The company is expected to report EPS of $4.22, up 2.93% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $40.78 billion, indicating a 6.34% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.84 per share and revenue of $160.14 billion, which would represent changes of -2.4% and +1.29%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for JPMorgan Chase & Co. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.21% rise in the Zacks Consensus EPS estimate. At present, JPMorgan Chase & Co. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, JPMorgan Chase & Co. is at present trading with a Forward P/E ratio of 12.41. Its industry sports an average Forward P/E of 11.21, so one might conclude that JPMorgan Chase & Co. is trading at a premium comparatively.
It is also worth noting that JPM currently has a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.64 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.