What is Zacks Research’s Forecast for JPM FY2024 Earnings?

JPMorgan Chase & Co. (NYSE:JPM) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of JPMorgan Chase & Co. in a research report issued on Monday, December 16th. Zacks Research analyst R. Department now expects that the financial services provider will earn $17.13 per share for the year, up from their prior 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.

JPM has been the topic of several other reports. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $234.81.

JPMorgan Chase & Co. Trading Down 3.4 %

NYSE JPM opened at $230.37 on Wednesday. The company has a 50 day moving average price of $235.56 and a 200 day moving average price of $217.52. The firm has a market cap of $648.57 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52 week low of $164.30 and a 52 week high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.33 earnings per share.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. during the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.