JPMorgan Chase & Co. (NYSE:JPM) Announces Quarterly Earnings Results

JPMorgan Chase & Co. (NYSE:JPM) announced its quarterly earnings results on Tuesday. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.74, MarketWatch Earnings reports. The business had revenue of $29.60 billion for the quarter, compared to the consensus estimate of $29.63 billion. JPMorgan Chase & Co. had a return on equity of 19.26% and a net margin of 37.71%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $2.92 EPS.

JPM stock traded up $1.56 during mid-day trading on Thursday, hitting $162.56. The company had a trading volume of 433,069 shares, compared to its average volume of 13,593,163. The stock’s fifty day moving average price is $160.59 and its two-hundred day moving average price is $157.52. The firm has a market cap of $485.75 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20. JPMorgan Chase & Co. has a 12 month low of $95.24 and a 12 month high of $171.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.85 and a current ratio of 0.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Shareholders of record on Wednesday, October 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 45.05%.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Credit Suisse Group set a $177.00 price objective on JPMorgan Chase & Co. in a report on Thursday. The Goldman Sachs Group set a $198.00 price objective on JPMorgan Chase & Co. in a report on Wednesday. Jefferies Financial Group upped their price objective on JPMorgan Chase & Co. from $177.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods initiated coverage on JPMorgan Chase & Co. in a report on Wednesday, July 7th. They issued a “market perform” rating and a $167.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $170.18.

An institutional investor recently raised its position in JPMorgan Chase & Co. stock. Morgan Stanley boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,288,577 shares of the financial services provider’s stock after purchasing an additional 510,298 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Morgan Stanley’s portfolio, making the stock its 13th largest position. Morgan Stanley owned approximately 1.28% of JPMorgan Chase & Co. worth $5,955,407,000 as of its most recent SEC filing. 69.67% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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Earnings History for JPMorgan Chase & Co. (NYSE:JPM)

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