News

What Analysts Think of JPMorgan Chase Stock Ahead of Earnings

What Analysts Think of JPMorgan Chase Stock Ahead of Earnings


Key Takeaways



JPMorgan Chase ( JPM ) is scheduled to report earnings before the opening bell Wednesday, kicking off a stretch of earnings reports as America's largest financial institutions wrap up their 2024s.

Analysts have a positive view of the banking giant's stock, with eight "buy" and six "hold" ratings among the 14 analysts tracked by Visible Alpha. The average price target , $256.50 suggests analysts expect JPMorgan's stock will rise this year, perhaps returning to and surpassing the record levels it reached in November. The shares closed Friday at around $240.

JPMorgan is expected to report $11.92 billion in quarterly net income , a gain of nearly 30% from the same time last year on $41.49 billion in revenue , up 7.5% year-over-year.

The bank's net interest income is expected to decline to $22.93 billion from $24.05 billion a year ago, as the bank feels the impact of high deposit costs for another quarter before lower interest rates help bring deposit costs down.

Q4 Follows Estimate-Beating First Three Quarters

JPMorgan, the nation's largest bank, largely beat estimates in its first three quarters of the fiscal year.

The bank's NII missed estimates in the first quarter , but revenue and profits consistently beat estimates as asset management and investment banking revenue surged.

Market watchers will also be paying attention to any comments from JPMorgan's CEO Jamie Dimon on the bank's succession plan, projections for the next fiscal year, and its expectations for the economy under president-elect Donald Trump's second term.

JPMorgan shares fell Friday, leaving them up about 40% over the past 12 months. They're about 1% higher in Monday trading.

Read the original article on Investopedia