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JPMorgan Chase & Co. (JPM) Ascends But Remains Behind Market: Some Facts to Note
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In the latest trading session, JPMorgan Chase & Co. (JPM - Free Report) closed at $211.44, marking a +0.17% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.15%.
Coming into today, shares of the company had lost 3.31% in the past month. In that same time, the Finance sector gained 3.08%, while the S&P 500 gained 2%.
Market participants will be closely following the financial results of JPMorgan Chase & Co. in its upcoming release. The company plans to announce its earnings on October 11, 2024. The company's upcoming EPS is projected at $4.04, signifying a 6.7% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $41.25 billion, reflecting a 3.44% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.72 per share and a revenue of $172.03 billion, representing changes of +3.02% and +8.81%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for JPMorgan Chase & Co. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. At present, JPMorgan Chase & Co. boasts a Zacks Rank of #3 (Hold).
In terms of valuation, JPMorgan Chase & Co. is presently being traded at a Forward P/E ratio of 12.63. For comparison, its industry has an average Forward P/E of 12.62, which means JPMorgan Chase & Co. is trading at a premium to the group.
Meanwhile, JPM's PEG ratio is currently 2.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 67, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JPM in the coming trading sessions, be sure to utilize Zacks.com.
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JPMorgan Chase & Co. (JPM) Ascends But Remains Behind Market: Some Facts to Note
In the latest trading session, JPMorgan Chase & Co. (JPM - Free Report) closed at $211.44, marking a +0.17% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.15%.
Coming into today, shares of the company had lost 3.31% in the past month. In that same time, the Finance sector gained 3.08%, while the S&P 500 gained 2%.
Market participants will be closely following the financial results of JPMorgan Chase & Co. in its upcoming release. The company plans to announce its earnings on October 11, 2024. The company's upcoming EPS is projected at $4.04, signifying a 6.7% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $41.25 billion, reflecting a 3.44% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $16.72 per share and a revenue of $172.03 billion, representing changes of +3.02% and +8.81%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for JPMorgan Chase & Co. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.36% decrease. At present, JPMorgan Chase & Co. boasts a Zacks Rank of #3 (Hold).
In terms of valuation, JPMorgan Chase & Co. is presently being traded at a Forward P/E ratio of 12.63. For comparison, its industry has an average Forward P/E of 12.62, which means JPMorgan Chase & Co. is trading at a premium to the group.
Meanwhile, JPM's PEG ratio is currently 2.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 67, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JPM in the coming trading sessions, be sure to utilize Zacks.com.