JPMorgan Chase (JPM ) will report its Q2 results ahead of tomorrow's opening bell, followed by the management's conference call at 8:30 ET.
The Capital IQ consensus expects the banking giant to report a 59.6% yr/yr drop in EPS to $1.14 on a 4.8% yr/yr increase in revenue to $30.23bln.
While markets have rebounded quickly, the real economy will take more time to recover. Because of this, investors will be eager to see if the bank increases its provision for loan losses.
JPM is a read through to business banking which can be a tell for the overall economy. Investors will look to see how JPM’s NIM (Net Interest Margin) held up during these difficult times. Jamie Dimon is one of the most respected CEO’s on Wall Street so any insight on the conference call should be paid attention to.
TECHS:
JPMorgan Chase trades at 13.4x forward earnings expectations, which represents a premium to:
Bank of America (BAC 24.24, +0.22, +0.9%)
Citigroup (C 52.88, +0.23, +0.4%)
This is a discount relative to Wells Fargo (WFC 25.63, +0.16, +0.7%).
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