Major Bank Earnings to Watch Tuesday Morning
24/7 Wall St. has put together a preview of some of the major financial companies kicking off the new earnings reporting season.
A handful of the major banks are reporting their most recent financial results on Tuesday morning. Most of these banks normally report on Friday, but this quarter they are changing it up. In general, financial stocks have performed in line with the markets, despite the tumultuous China trade war. At the same time, the Federal Reserve has proven to be more hawkish over the past quarter.
24/7 Wall St. has put together a preview of some of the major financial companies kicking off the new earnings reporting season. Markets have risen to record highs, and results from these major banks can set the tone for earnings going forward.
Citigroup Inc. (NYSE: C) is scheduled to reveal its third-quarter results on Tuesday before the open. The consensus estimates call for $1.95 in earnings per share (EPS), as well as $18.55 billion in revenue. Shares were trading at $69.76 on Monday. The consensus price target is $82.23. The stock has a 52-week trading range of $48.42 to $73.08.
For Wells Fargo & Co. (NYSE: WFC | WFC Price Prediction), the consensus analyst estimates call for $1.14 in EPS and revenue of $21.19 billion. Shares of Wells Fargo were trading at $49.16, near the consensus price target of $49.40. The 52-week trading range is $43.02 to $55.04.
Watch for Morgan Stanley (NYSE: MS) to release its most recent quarterly results on Tuesday morning as well. The consensus third-quarter forecast is $1.11 in EPS and $9.63 billion in revenue. Shares were trading at $41.99. The consensus price target is $52.77, and the share price has ranged from $36.74 to $48.67 in the past 52 weeks.
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The analysts’ consensus estimates for JPMorgan Chase & Co. (NYSE: JPM) are EPS of $2.45 and $28.49 billion in revenue. Shares were changing hands at $116.23 Monday morning. The consensus price target is $119.58, and the stock has a 52-week range of $91.11 to $120.40.
The Goldman Sachs Group Inc. (NYSE: GS) consensus forecast calls for $4.81 in EPS on revenue of $8.34 billion. Shares were trading at $204.40, and the analysts’ mean price target is $234.95. The 52-week trading range is $151.70 to $234.06.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
