JPMorgan Chase: Stock Restated By Citigroup

Author: Nadene Woods   March 1, 2013


Citibank Midweek Mortgage Rates: Purchase and Refinance Packages in Line with Ongoing National Lows JPMorgan Chase (NASDAQ:JPM) has had its stock “buy” rating restated.

Citigroup equities researchers issued the news in a report they bought out on Wednesday.

Currently JPMorgan have a $53.00 target price on the stock.

On Wednesday stocks opened at 47.60 with JPMorgan Chase having a 1-year low of $30.83 and a 1-year high of $49.68.

Currently the stock’s 50-day moving average stands at $47.48 with a market cap of $181.2 billion together with a price-to-earnings ratio of 9.15.

It was on Wednesday (16th January) that JPMorgan issued its quarterly earnings data reporting $1.39 EPS for the quarter, which beat the Thomson Reuters consensus estimate which stood at $1.16 by $0.23.

For the quarter, revenues stood at $24.40 billion compared to a estimate which stood at $24.56 billion.

For the same quarter last year, JPMorgan posted $1.27 earnings per share with Chase’s revenue being up 10.2% compared to the same quarter of the previous year. It’s expect that JPMorgan Chase will post $5.43 EPS for this current fiscal year.

JPMorgan Chase (JPMorgan Chase & Co) is a US financial holding company as well as a global financial services firm as well as a banking institution based in the United States that operates throughout the world.