JPMorgan, Citigroup and even Wells Fargo are part of Zacks Earnings Preview

Zacks04-15

For Immediate Release Chicago, IL – April 15, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan JPM, Citigroup C and even Wells ...

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This week’s list includes JPMorgan JPM, Citigroup C and even Wells ...</p>\n\n<a href=\"https://finance.yahoo.com/news/jpmorgan-citigroup-even-wells-fargo-130200972.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan, Citigroup and even Wells Fargo are part of Zacks Earnings Preview</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan, Citigroup and even Wells Fargo are part of Zacks Earnings Preview\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-15 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/jpmorgan-citigroup-even-wells-fargo-130200972.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For Immediate Release\nChicago, IL – April 15, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan JPM, Citigroup C and even Wells ...</p>\n\n<a href=\"https://finance.yahoo.com/news/jpmorgan-citigroup-even-wells-fargo-130200972.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WFC","symbol_name":"富国银行","start_time":0,"source_url":"https://finance.yahoo.com/news/jpmorgan-citigroup-even-wells-fargo-130200972.html","article_id":"2427002786","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/R0OhzCzPjTb6LSw_liLJNA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/f669525e63f99853aaf44cb421e89764"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2427002786","pubTimestamp":1713186120,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Chicago, IL – April 15, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan JPM, Citigroup C and even Wells Fargo WFC.The market isn’t particularly impressed with what it saw in the quarterly releases from JPMorgan, Citigroup and even Wells Fargo. Part of the issue appears to be underwhelming guidance, particularly from JPMorgan, that most analysts saw as overly conservative.We see the Q1 results from these three major banks as good enough; not great, but definitely not bad either. There were no major surprises from either of the three banks. In our view, the likely explanation for the market’s tentative initial reaction to these results is the stocks’ outperformance coming into this reporting cycle.The weakness in JPMorgan, Citi, and Wells Fargo shares following the banks’ Q1 results can be seen in a ‘sell-the-news’ type of framework.The Q1 earnings season really ramps up this week, with 41 S&P 500 companies on deck to","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"WFC":"富国银行","JPM":"摩根大通","C":"花旗"},"translate_title":"摩根大通、花旗集团甚至富国银行都是咤克斯收益预测的一部分","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JPM":1,"WFC":1,"C":0.9},"content_text":"For Immediate Release\nChicago, IL – April 15, 2024 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan JPM, Citigroup C and even Wells Fargo WFC.\nQ1 Earnings Season Kicks Off Positively\nThe market isn’t particularly impressed with what it saw in the quarterly releases from JPMorgan, Citigroup and even Wells Fargo. Part of the issue appears to be underwhelming guidance, particularly from JPMorgan, that most analysts saw as overly conservative.\nWe see the Q1 results from these three major banks as good enough; not great, but definitely not bad either. There were no major surprises from either of the three banks. In our view, the likely explanation for the market’s tentative initial reaction to these results is the stocks’ outperformance coming into this reporting cycle.\nThe weakness in JPMorgan, Citi, and Wells Fargo shares following the banks’ Q1 results can be seen in a ‘sell-the-news’ type of framework.\nJPMorgan beat on EPS but came up short on the top-line, with net income for the period up +10.7% on +11.7% higher revenues. Net interest income of $21.9 billion, excluding contribution from the First Republic acquisition, was up +4.9% from the year-earlier period, with average loan portfolios up +3% and flat deposits. Revenues in the investment banking business were up +8%, with a +27% increase in investment banking revenues partly offset by a -5% decline in markets revenues.\nWells Fargo beat on the top- and bottom-lines, with net income for the quarter down -3.1% on +4.2% higher revenues. Wells’ net interest income of $12.2 billion was down -8% from the year-earlier period, with the average loan portfolio down -2% and deposits down -1%. Wells Fargo reiterated prior full-year 2024 net-interest income guidance that is expected to be down in the -5% to -7% range from the 2023 level.\nCiti beat on EPS but came up modestly short on revenues. The issue with Citi continues to be progress in management’s efforts to restructure and reposition the business. The new management team has been actively engaged in the restructuring exercise, and the market appears to be favorably looking at Citi’s new five-business-line structure. Citi’s net interest income of $13.51 billion was up +1.2% from the year-earlier level, with average loans up +4% and deposits down -3%.\nLooking at the Q1 earnings season scorecard for the Finance sector, we now have results from 20.5% of the sector’s market capitalization in the S&P 500 index. Total earnings for these Finance companies are up +11.4% from the same period last year on +8% higher revenues, with a 100% EPS beats percentage and a 66.7% revenue beats percentage.\nLooking at the Finance sector as a whole, total Q1 earnings for the sector are expected to be up +8.1% on +3.3% higher revenues.\nEarnings Season Scorecard and This Week’s Earnings Reports\nThe Q1 earnings season really ramps up this week, with 41 S&P 500 companies on deck to report results. In addition to a host of banks and other Finance sector companies reporting results, this week’s line-up includes several bellwethers from different sectors, such as United Health, Netflix, Johnson & Johnson, CSX Corp., Schlumberger, and others.\nThrough Friday, April 12th, we have seen Q1 results from 30 S&P 500 index members. Total Q1 earnings for these 30 index members are up +21% from the same period last year on +5.8% higher revenues, with 80% beating EPS estimates and 56.7% beating revenue estimates.\nThis is too early to draw any firm conclusions, but we nevertheless compare the earnings and revenue growth rates for these 30 index members to other recent periods.\nAt this early stage in the Q1 reporting cycle, positive surprises appear hard to come by.\nThe Earnings Big Picture\nLooking at Q1 as a whole, total S&P 500 earnings are expected to be up +2.9% from the same period last year on +3.8% higher revenues, which would follow the +6.8% earnings growth on +4.0% revenue gains in the preceding period.\nAs we have noted here all along, estimates for Q1 came down as the quarter got underway, though the magnitude of cuts to Q1 estimates compared favorably to what we had seen in the comparable period to the preceding quarter.\nWhile Q1 estimates came down in the aggregate, the bulk of the negative revisions were concentrated in the Energy, Autos, Basic Materials, and Transportation sectors. On the flip side, estimates modestly increased for the Retail, Consumer Discretionary, and Tech sectors, enjoying notable positive revisions.\nFor 2024 Q1, net margins are expected to be below the year-earlier level for 9 of the 16 Zacks sectors, with the biggest declines in the Energy, Basic Materials, Autos, and Medical sectors. Net margins are expected to be above the year-earlier level for 5 of the 16 Zacks sectors, with the biggest gains at the Tech and Utilities sectors.\nThe Tech sector is now firmly back in growth mode, and the trend is expected to continue going forward.\nFor 2024 Q1, Tech sector earnings are expected to increase +19.3% from the same period last year on +8.3% higher revenues. This would follow the sector’s +27.5% higher earnings in 2023 Q4 on +8.8% higher revenues.\nThe sector experienced a period of post-COVID adjustment in 2022 and the first half of 2023, during which time it became a drag on the aggregate growth picture.\nPlease keep in mind that Tech isn’t just any other sector; it is the biggest earnings contributor to the S&P 500 index. The sector is currently expected to bring in 28.8% of the index’s total earnings over the coming four-quarter period, with the second and third biggest contributors being Finance and Medical, at 17.7% and 12.5%, respectively.\nThis means that the Tech sector’s growth profile has a very big impact on the aggregate picture, both negatively and positively.\nThe Tech sector dragged down the aggregate growth picture in 2022 and the first half of 2023 and now appears ready to resume its historically positive growth role.\nPlease note that the Tech sector is instrumental in keeping the aggregate growth picture in positive territory in Q1. Excluding the sector’s substantial contribution, Q1 earnings for the rest of the index would be down -2.4% from the same period last year (vs. +2.9% as a whole).\nLooking at the overall earnings picture on an annual basis, total 2024 S&P 500 earnings are expected to be up +8.4% on +1.9% revenue growth.\nWhy Haven’t You Looked at Zacks' Top Stocks?\nSince 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.\nToday you can access their live picks without cost or obligation.\nSee Stocks Free >>\nMedia Contact\nZacks Investment Research\n800-767-3771 ext. 9339\nsupport@zacks.com\nZacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks \"Terms and Conditions of Service\" disclaimer. www.zacks.com/disclaimer.\nPast performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nWells Fargo & Company (WFC) : Free Stock Analysis Report\nJPMorgan Chase & Co. (JPM) : Free Stock Analysis Report\nCitigroup Inc. (C) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2427002786"}