JPMorgan, Wells Fargo and More Kicking Off Earnings Season This Week

July 9, 2017 by Chris Lange

24/7 Wall St. has put together a preview of the major companies scheduled to report their quarterly results this coming week. The broad markets closed out last week with the Dow and S&P 500 holding near all-time highs. However, the Nasdaq has fallen off but could stand to make a handy recovery. A strong earnings showing from these stocks could help the markets reach even higher highs.

The main companies reporting this week are banks, which always kick off the earnings season. Although only three major banks are reporting this week, the rest will be coming along very shortly.

Generally speaking, financial stocks have made solid gains thus far in 2017, with a tremendous tailwind from the Trump rally. In fact, in the past 52 weeks, most of these major money center banks have posted incredible gains. Also, with more rate hikes from the Federal Reserve on the horizon, these banks could keep running.

We have included the consensus earnings estimates from Thomson Reuters, as well as the stock price and trading history. Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies could change earnings dates as well.

Barracuda Networks Inc. (NYSE: CUDA) fiscal first-quarter results are scheduled for Monday. The consensus earnings estimate is $0.18 per share, on $91.15 million in revenue. The shares were last seen at $23.85. The consensus price target is $28.56, and the 52-week trading range is $18.67 to $26.69.

PepsiCo Inc. (NYSE: PEP) is set to release its most recent quarterly results Tuesday. The consensus forecast calls for $1.40 in earnings per share (EPS) and $15.61 billion in revenue. Shares ended last week at $115.51. The consensus price target is $122.52, and the 52-week range is $98.50 to $118.24.

Delta Air Lines (NYSE: DAL) is scheduled to share its most recent quarterly results on Thursday. Analysts are looking for EPS of $1.64 and revenue of $10.78 billion in the report. The shares were changing hands at $55.46 as the trading week concluded, near the top of the $35.84 to $55.50 range for the past 52 weeks.

JPMorgan Chase & Co. (NYSE: JPM) second-quarter results are scheduled for Friday. The consensus forecast is for $1.60 in EPS and $25.11 billion in revenue. Shares were last seen at $93.85. The 52-week range is $62.14 to $94.51, with a consensus price target of $94.23. Over the past 52 weeks, the stock is up over 54%.

Citigroup Inc. (NYSE: C) is expected to release its most recent quarterly results Friday. The consensus forecast calls for $1.22 in EPS and $17.46 billion in revenue. Shares closed on Friday at $67.91. The consensus price target is $66.19, and the 52-week range is $42.29 to $68.91. Over the past 52 weeks, the stock is up about 60%.

Wells Fargo & Co. (NYSE: WFC) will report its most recent quarterly results on Friday as well. The consensus estimates are $1.01 in EPS and $22.46 billion in revenue. Shares closed at $55.74 on Friday, in a 52-week range of $43.55 to $59.99. The consensus price target is $57.67. Over the past 52 weeks, the stock is up nearly 16%.

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