A new earnings reporting season kicks off this week, with the big banks and a few other companies leading the way. Although coronavirus concerns have been minimized as the broad markets have stabilized, there still will be an impact on these reports.
Banks will be central in leading the economic recovery, through small business lending, among other things. The numbers that these institutions post will be an important barometer for what comes next.
24/7 Wall St. has put together a preview of some of the major companies kicking off the new earnings reporting season.
Citigroup Inc. (NYSE: C) is expected to reveal its third-quarter results on Tuesday before the open. The consensus estimates call for $0.90 in earnings per share (EPS), as well as $17.17 billion in revenue. Citigroup stock recently has been trading near $45 a share. The consensus price target is $65.36. The stock has a 52-week trading range of $32.00 to $83.11.
JPMorgan Chase & Co. (NYSE: JPM) also is scheduled to reveal its third-quarter results before regular trading begins on Tuesday. The consensus estimates call for EPS of $2.18 and $28.26 billion in revenue. Shares rose above $100 rose last week. The consensus price target is $115.90. The stock has a 52-week trading range of $76.71 to $141.10.
Johnson & Johnson (NYSE: JNJ) will share its latest results early Tuesday as well. The consensus forecast for its second quarter sees EPS coming in at $1.96 while revenue is $20.14 billion. Shares made another run at $150 late in the week and have traded between $109.16 and $157.00 in the past year. The consensus price target is $164.59.
UnitedHealth Group Inc. (NYSE: UNH) is set to report its third-quarter results before the open on Wednesday. Analysts expect to see $3.09 in EPS and revenue of $63.89 billion. UnitedHealth stock hit a new 52-week high of $325.92 early Friday, and the 52-week low is $187.72, The consensus target price is $345.80.
Goldman Sachs Group Inc.’s (NYSE: GS) third-quarter report is due first thing Wednesday. The consensus forecast calls for $5.33 in EPS on revenue of $9.34 billion. Shares traded above $208 on Friday, and the analysts’ mean price target is $249.79. The 52-week trading range is $130.85 to $250.46.
Bank of America Corp. (NYSE: BAC) is due to report its results Wednesday morning. The consensus estimates are EPS of $0.47 and $20.82 billion in revenue. Shares were changing hands above $25 last week. The consensus price target is $28.76, and the stock has a 52-week range of $17.95 to $35.72.
Wells Fargo & Co. (NYSE: WFC) is set to report its third-quarter results before the opening bell on Wednesday as well. Analysts expect to see $0.44 in EPS and revenue of $17.95 billion. Wells Fargo stock traded above $25 per share late last week, and the consensus target price is $29.75. The 52-week trading range is $22.00 to $54.75.
United Airlines Holdings Inc. (NASDAQ: UAL) will share its latest results later on Wednesday. The consensus forecast for its second quarter sees a net loss of $7.71 per share while revenue is $2.55 billion. Shares have changed hands at between $17.80 and $95.16 in the past year, and they traded mostly between $36 and $37 apiece last week. The consensus price target is $42.76.
Watch for Walgreens Boots Alliance Inc.’s (NASDAQ: WBA) most recent quarterly results on Thursday morning. The consensus fiscal fourth-quarter forecast is $0.96 in EPS and $34.55 billion in revenue. Walgreens stock traded above $37 a share late in the week. The consensus price target is $40.28, and the share price has ranged from $33.88 to $64.50 in the past 52 weeks.
And Schlumberger Ltd. (NYSE: SLB) is expected to reveal its third-quarter results on Friday before the open. The consensus estimates call for $0.12 in EPS, as well as $5.39 billion in revenue. The stock was trading recently above $16 per share. The consensus price target is $23.53. The shares have a 52-week trading range of $11.87 to $41.14.