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.