JP Morgan Chase & Co. is scheduled to report its second quarter earnings for fiscal year 2015 today. Both the top line and bottom line estimates look positive for the bank, as it most likely to surpass the consensus forecasts for both these figures in this quarter.
According to Earningswhispers.com says JP Morgan is most likely to post earnings of $1.50 per share for the quarter, surpassing the Street estimates by almost 0.05%. On the other hand, Estimize.com estimates average revenue of approximately $24.67 billion for the period, expecting the company to report more than the Street estimate of $241 million. The Street believes the bank to report a year over year decline of 8.98% in earnings and 3.63% year over year decline in sales for the second quarter.
JP Morgan Chase & Co. reported earnings of $1.60 per share for first quarter of fiscal year 2015, beating the analysts’ expectation by nearly $309 million. During the last eight quarters, the bank was able to beat the Streets estimates seven times, and has surpassed the top line forecasts 5 times.
Majority of analysts are bullish on the stock of JP Morgan. Out of 40 analysts having coverage on JP Morgan stock, 29 gave it a Buy, while the remaining assigned a Hold. The analysts gave an average twelve month stock price target of $71.91, demonstrating an upside potential of 5.61% over the latest closing price.
According to some analysts, the company is expected to report earnings of $1.45 per share, a decline of 7.4% year over year. Earnings per share in the previous quarter were reported at $1.58. On the other hand, revenue is most likely to arrive t $24.42 billion, a decrease of almost 100 basis points. In the previous quarter, it was recorded at $24.06 billion. In the meantime, operating income is forecasted to be $9.02 billion.
JP Morgan’s consumer and community banking segment is most likely to generate robust results this period, however the investment banking segment is most likely to see revenue decline.
With an optimistic sentiment in the stock market, JP Morgan Chase & Co. stock was up 1.42% to $69.06 at market close on Tuesday July 14. As per Bloomberg terminal, 40 analysts covered the bank stock, out of which 29 suggested a Buy. The investment bank has 52 week low and high of $67.76 and $69.10, respectively. The company has $248.90 billion of market capitalization.
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