On Tuesday, J.P. Morgan Chase reported its latest quarterly earnings that exceeded analysts’ expectations.
The financial behemoth’s second-quarter profit surged +16% year-over-year to a record of $9.65 billion, or $2.82 a share - beating the $2.50 estimate of analysts surveyed by Refinitiv.
J.P. Morgan said that an apparent one-time tax advantage came from the resolution of “certain tax audits” that boosted the company’s per share earnings by 23 cents.
Total revenue for the company increased +4% to $29.57 billion, surpassing analysts’ expectations of $28.9 billion.
The bank’s revenue from its fixed income trading business increased +7% to $3.69 billion, which exceeded estimate of $3.36 billion. But its equities trading division revenue fell -12% to $1.73 billion, missing analysts’ estimate of $1.84 billion.
The company lowered its forecast for 2019 net interest income to $57.5 billion, compared with its prior prediction of $58 billion.
JPM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 34 cases where JPM's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where JPM's RSI Indicator exited the oversold zone, of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 58 cases where JPM's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
JPM moved above its 50-day moving average on April 22, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where JPM advanced for three days, in of 335 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 286 cases where JPM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Momentum Indicator moved below the 0 level on April 11, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on JPM as a result. In of 84 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for JPM turned negative on April 03, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at .
The 10-day moving average for JPM crossed bearishly below the 50-day moving average on April 22, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where JPM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 61, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. JPM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: JPM's P/B Ratio (1.907) is slightly higher than the industry average of (0.945). P/E Ratio (12.258) is within average values for comparable stocks, (8.857). Projected Growth (PEG Ratio) (3.448) is also within normal values, averaging (2.584). Dividend Yield (0.021) settles around the average of (0.100) among similar stocks. P/S Ratio (3.779) is also within normal values, averaging (2.430).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a major bank
Industry MajorBanks