What is Zacks Research’s Forecast for JPM FY2024 Earnings?

JPMorgan Chase & Co. (NYSE:JPM) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for JPMorgan Chase & Co. in a research note issued on Monday, December 16th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $17.13 for the year, up from their prior forecast of $17.11. The consensus estimate for JPMorgan Chase & Co.’s current full-year earnings is $17.62 per share. Zacks Research also issued estimates for JPMorgan Chase & Co.’s Q4 2024 earnings at $3.73 EPS, Q1 2025 earnings at $4.00 EPS, Q2 2025 earnings at $4.09 EPS, Q3 2025 earnings at $4.08 EPS and Q3 2026 earnings at $4.47 EPS.

JPM has been the topic of a number of other research reports. Citigroup upped their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $230.37 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $164.30 and a twelve month high of $254.31. The company has a market capitalization of $648.57 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $235.56 and a two-hundred day moving average price of $217.52.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the company earned $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of JPM. Geode Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after purchasing an additional 302,592 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.