JPMorgan Chase & Co. (NYSE:JPM) Issues Earnings Results, Beats Estimates By $0.74 EPS

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

Shares of JPMorgan Chase & Co. stock traded up $1.35 during trading on Thursday, hitting $162.35. The stock had a trading volume of 407,423 shares, compared to its average volume of 13,593,163. The firm’s fifty day simple moving average is $160.59 and its 200-day simple moving average is $157.52. The stock has a market cap of $485.13 billion, a PE ratio of 10.84, a PEG ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a 12 month low of $95.24 and a 12 month high of $171.51.

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

A number of research analysts recently weighed in on JPM shares. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Tuesday, September 28th. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $139.00 to $140.00 and gave the company a “market perform” rating in a report on Thursday. The Goldman Sachs Group set a $198.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday. Barclays set a $187.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 14th. Finally, Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $166.00 and gave the company an “underweight” rating in a report on Thursday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $170.18.

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Morgan Stanley boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,288,577 shares of the financial services provider’s stock after buying an additional 510,298 shares during the quarter. JPMorgan Chase & Co. makes up 0.8% of Morgan Stanley’s portfolio, making the stock its 13th largest position. Morgan Stanley owned 1.28% of JPMorgan Chase & Co. worth $5,955,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 69.67% of the company’s stock.

About JPMorgan Chase & Co.

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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