Earnings Growth & Price Strength Make JPMorgan Chase & Co. (JPM) a Stock to Watch
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to JPMorgan Chase & Co. (JPM)
Headquartered in New York, JPMorgan Chase & Co. is one of the biggest global banks with assets worth $3.9 trillion and stockholders’ equity worth $317.4 billion as of Sep 30, 2023. With operations in more than 60 countries, the company (incorporated under Delaware law in 1968) is one of the largest financial service firms in the world.
On October 10, 2016, JPM was added to the Zacks Focus List at $68.11 per share. Shares have increased 132.74% to $158.52 since then.
Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.74 to $16.84. JPM also boasts an average earnings surprise of 16.8%.
Additionally, JPMorgan Chase & Co.'s earnings are expected to grow 39.3% for the current fiscal year.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like JPM offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
