The unofficial start of the second-quarter earnings season kicks off Friday with results from banking giants including JPMorgan Chase . Analysts polled by LSEG expect the financial behemoth to report earnings of $4.18 per share on $42.
16 billion in revenue. Along with the top- and bottom-line numbers, Wall Street is also keeping close watch on net interest income and guidance. "We are attracted to JPM's competitive position and believe it has addressed a great deal of its litigation concerns," said Barclays analyst Jason Goldberg.
"We see the greatest sources of potential earnings upside being driven by higher loan growth and capital markets." JPM YTD mountain Shares in 2024 Shares of JPMorgan have fared well in 2024, rising 22%. The bank's CEO Jamie Dimon has also made headlines in recent months, warning in April that sticky inflation , wars and the Federal Reserve's policy pose potential major threats ahead.
Analysts will monitor JPMorgan's 2024 outlook, particularly the trajectory for net interest income given the expectations for a higher-for-longer rate environment, noted Goldman Sachs analyst Richard Ramsden. Earlier this year, the company guided for $91 billion in net interest income, but another upgrade is not out of the question, according to Bank of America's Ebrahim Poonawala. The firm holds a $226 price target on the stock, suggesting nearly 9% upside from Wednesday's close.
Barclays analyst Goldberg anticipates a slight decrease in net interest income in the seco.
