The major U.S. banks are releasing their fourth-quarter earnings reports this coming week, kicking off a new earnings season. The recent rate hike from the Federal Reserve has helped to bolster this industry, but considering the atmosphere of the market after a dismal December, there is still a long road to recovery. When these major banks share their results, we will see if this economy has a strong foundation.
24/7 Wall St. has put together a preview of some of the major financial companies that are the first to report this season. We have included the consensus earnings estimates from Thomson Reuters and the stock price and trading history, as well as some additional color on each.
Be advised that the earnings and revenue estimates may change ahead of the formal reports, and some companies may change reporting dates as well.
Citigroup Inc. (NYSE: C) is scheduled to reveal its fourth-quarter results on Monday before the markets open. The consensus estimates call for $1.61 in earnings per share (EPS), as well as $17.94 billion in revenue. Shares traded at $56.69 on Friday’s close. The consensus price target is $81.88. The stock has a 52-week trading range of $48.42 to $80.70. Currently, the stock is up 8.4% year to date, and it is down 29.2% from its 52-week high.
JPMorgan Chase & Co. (NYSE: JPM) is set to report its fourth-quarter results on Tuesday morning. The analysts’ consensus forecast sees EPS of $2.25 and $27.28 billion in revenue. Shares were changing hands at $99.91 on Friday’s close. The consensus price target is $120.07, and the 52-week trading range is $91.11 to $119.33. The stock is up 2.8% year to date and down 16.2% from its 52-week high.
Wells Fargo & Co. (NYSE: WFC) is expected to report its most recent quarter results on Tuesday as well. The consensus estimates are $1.19 in EPS and revenue of $21.62 billion. Shares of Wells Fargo closed at $47.87 on Friday. The consensus price target is $61.26. The 52-week trading range is $43.02 to $66.31. The stock is up 3.6% year to date, and it is down 27.7% from its 52-week high.
Bank of America Corp. (NYSE: BAC) is scheduled to reveal its fourth-quarter results on Wednesday. The consensus estimates call for $0.65 in EPS, as well as $22.63 billion in revenue. Shares ended the week at $26.03. The consensus price target is $33.87, and the 52-week trading range is $22.66 to $33.05. The stock is up 4.4% year to date. It is down 21.5% from its 52-week high.
Goldman Sachs Group Inc. (NYSE: GS) also is set to report its fourth-quarter results on Wednesday. The consensus estimates are EPS of $6.03 and $8.25 billion in revenue. Shares were last seen changing hands at $176.93. The consensus price target is $253.30, and the 52-week range is $151.70 to $275.31. The stock is up 5.4% year to date and down 36.0% from its 52-week high.
Morgan Stanley (NYSE: MS) will post its most recent quarter results on Thursday. Analysts on average are looking for $1.00 in EPS and revenue of $9.7 billion. Shares ended at $41.74 on Friday. They have a consensus price target of $56.22. The 52-week trading range is $36.74 to $59.38. The stock is up 5.1% year to date but down 29.7% from its 52-week high.
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