JPMorgan Chase & Co. (JPM) : Q116 Earnings Whisper

JP Morgan

All eyes will be on JPMorgan Chase & Co. (JPM) before the markets open today. Wall Street analysts are on average expecting the banking giant to post $23.4 billion in sales during the quarter. This would show a 1.27% decline from the Q415 revenue of $23.7 billion as well as decline of 5.65% from the same period in Q115. EPS in Q116 are expected to come in at $1.26, a negative rate of 13.10% from $1.45 per share a year earlier. Meanwhile, reports a whisper number of $1.30 per share.

As a quick reminder, JPMorgan reported Q415 EPS of $1.32, $0.05 better than the Street’s consensus estimate. Revs increased 5.33% yoy to $23.7 billion versus the $22.89 billion consensus.

JPM’s results come as the overall financial sector, one of S&P 500’s weakest sector year-to-date, is projected to suffer the worst quarter for earnings in nearly five years.

JPM recently traded at $59.28, a gain of $1.08 over Tuesday’s closing price. The name has a current market capitalization of $217.14 billion.

As for passive income investors, the nation’s biggest bank by assets pays shareholders $1.76 per share annually in dividends, yielding 3.05%. Five year average dividend yield currently stands at 2.46%.

Update: JPMorgan handed in earnings of $1.35 per share on revenue of $23.20 billion, beating Wall Street estimates of $1.26 per share on revenue of $22.87 billion. The stock is up premarket $1.42 to $60.70 a share.

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