Stock Update: JPMorgan Chase & Co (NYSE:JPM) – J.P. Morgan to settle Madoff charges for $1.7 bln

JPMorgan Chase & Co (NYSE:JPM) [at MarketWatch] – NEW YORK (MarketWatch) — J.P. Morgan Chase & Co. has agreed to settle with the government for $1.7 billion over charges related to Bernie Madoff on Tuesday. The government announced criminal charges for …
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JPMorgan Chase & Co. (JPM), currently valued at $219.68B, started trading this morning at $59.29.
 
Looking at the equity, the company’s one day range is $58.33 to $59.38 and has traded between $44.96 and $59.47 over the past 12 months.
 
JPM shares are currently priced at 13.35x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.31x earnings multiple.
 
And for dividend hunters, the company pays shareholders $1.52 per share annually in dividends, yielding 2.60%.
 
According to a consensus of 27 analysts, the earnings estimate of $1.33 per share would be $0.06 worse than the year-ago quarter and a $0.01 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $4.42 would be a $0.78 setback when compared to the previous year’s annual results.
 
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $23.84 Billion. If realized, that would be a 2.21% decrease over the year-ago quarter.
 
Recently, Standpoint Research downgraded JPM from Buy to Hold (Jul 24, 2013). Previously, Standpoint Research upgraded JPM from Hold to Buy.
 
The average price target for JPM shares is $63.84, which is 7.67% above where the stock opened this morning.
 
JPMorgan Chase & Co (NYSE:JPM), is a financial holding company, provides various financial services worldwide. Its Consumer and Community Banking segment provides deposits, investment products and services, lending and cash management and payment solutions to consumers and small businesses.
 
Tag Helper ~ Stock Code: JPM | Common Company name: J.P. Morgan | Full Company name: JPMorgan Chase & Co (NYSE:JPM) .

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Hal Lehr's Hedge Fund
Read more on J P Morgan Chase, Bernard Madoff at Wikinvest

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