Banking, finance, and taxes
Which Bank Will Have the Best Earnings Report This Week?
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As the earnings season has just kicked off, we are now hailing some of the first reporters, which are the major banks. Quarterly performance is just one issue, but for the first quarter S&P Global Market Intelligence is predicting that the S&P 500 financial sector’s earnings would fall by nearly 7%. However, this could be a lot worse looking at the S&P 500 as a whole, including energy and materials.
24/7 Wall St. has put together a preview of some of the major financial companies reporting their quarterly results this week. We have included the consensus earnings estimates from Thomson Reuters and the stock price and trading history, as well as added some additional color on each. Keep in mind that these estimates are subject to change.
JPMorgan
On Wednesday, JPMorgan Chase & Co. (NYSE: JPM) is scheduled to reveal its first-quarter results. The consensus estimates call for $1.26 in earnings per share (EPS), as well as $23.40 billion in revenue. In the same period of last year, it posted EPS of $1.45 and $24.82 billion in revenue. Overall, earnings are expected to drop 13% from last year. This company recently added $1.88 billion or so to its buyback plan, a move that saved its weekly performance. The total market cap here is $211.5 billion, and while the $1.88 billion doesn’t sound massive against the market cap, it is actually on top of the $6.4 billion authorized for repurchase last year.
Shares were trading at $58.81 on Tuesday. The consensus price target is $69.29. The stock has a 52-week trading range of $50.07 to $70.61.
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