Investor interest in JPMorgan Chase (NYSE:JPM) & Co. is surging ahead of the imminent earnings release, following a recent upward revision in earnings estimates that indicates a potential beat. The Most Accurate Estimate for the current quarter stands at $3.91 per share for JPM, surpassing the Zacks Consensus Estimate of $3.86 per share. This update reflects a favorable adjustment by analysts for JPM and corresponds to a Zacks Earnings ESP of +1.18%.
A 10-year retrospective study shows that stocks with a positive Earnings ESP and at least a Zacks Rank #3 (Hold) have an approximate 70% chance of surpassing expectations, delivering over 28% in annual returns. Given its Zacks Rank #2 (Buy) and positive ESP, JPM emerges as an appealing investment proposition ahead of its forthcoming earnings announcement on this Thursday.
JPMorgan's market capitalization currently stands at an impressive $425.83B USD, with a P/E ratio of 9.43, indicating a potentially undervalued stock according to InvestingPro data. The company's revenue growth has been accelerating, with a reported increase of 12.14% in the last twelve months, and a quarterly growth of 20.58% in FY2023.Q2.
In addition to these promising figures, the bank has demonstrated a solid track record in terms of dividends. According to InvestingPro Tips, JPMorgan has raised its dividend for 13 consecutive years and has maintained dividend payments for 53 consecutive years, which is a testament to its financial stability and commitment to returning capital to shareholders.
InvestingPro Tips also highlights that JPMorgan's stockholders receive high returns on book equity, and the company is a prominent player in the banking industry. The company's PEG Ratio stands at 0.37, which suggests that the stock is trading at a low price relative to its near-term earnings growth.
With the next earnings date set for October 13, 2023, and the InvestingPro Fair Value estimated at $136.47 USD, investors are keenly watching the performance of this banking giant. For more insights like these and additional tips, consider checking out InvestingPro's product at InvestingPro Pricing, which includes a wealth of information for informed investment decisions.
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