JPMorgan and Citigroup Q2 Earnings Previews: Both Should Have Decent Quarters

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Citigroup Inc ニュース

Jpmorgan Chase & Co

Stocks Analysis by Brian Gilmartin covering: Citigroup Inc, JPMorgan Chase & Co. Read Brian Gilmartin's latest article on Investing.com

) is scheduled to release their Q2 ’24 financial results before the opening bell, Friday, July 12, 2024, with Street consensus expecting $4.18 in earnings per share, on $42.15 billion in revenue for expected y-o-y growth of -4% and -1% respectively.JPM also has tougher a compare vs ’23 in Q3 ’24.

If readers would look at the above EPS and revenue estimate revisions, you’ll see the steady improvement in the numbers the last 6 – 7 months. You can make a good case that JPM is fairly valued here in the $200 area, but let’s see what EPS and revenue revisions look like after the call. 2024 could turn out to be another strong year for the stock, which is up 24% YTD, still well ahead of the SP 500.

On Friday morning, July 12th, ’24, sell-side consensus is expecting $1.39 in earnings per share on $20.074 billion in revenue for expected y-o-y growth of 5% and 3% respectively. Citi announced after the stress test results that the dividend would be increased from $0.53 to $0.56 per share. Trading at 12x and 9x expected 2024 and 2025 EPS of $5.72 and $7.23, Citi is still cheap on an “earnings growth” basis, in addition to the continued substantial discount to book value and tangible book value of 0.66x last quarter.

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