JPMorgan Chase (JPM) closed at $107.76 in the latest trading session, marking a -0.83% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the biggest U.S. bank by assets had lost 0.96% in the past month. In that same time, the Finance sector gained 2.3%, while the S&P 500 gained 4.32%.
JPM will be looking to display strength as it nears its next earnings release, which is expected to be July 16, 2019. The company is expected to report EPS of $2.55, up 11.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $29.38 billion, up 5.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.03 per share and revenue of $115.29 billion. These totals would mark changes of +11.44% and +5.74%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for JPM. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. JPM is currently a Zacks Rank #3 (Hold).
Digging into valuation, JPM currently has a Forward P/E ratio of 10.84. This valuation marks a premium compared to its industry's average Forward P/E of 10.79.
Also, we should mention that JPM has a PEG ratio of 1.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.31 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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