5 of the biggest banks are publishing their earnings this week: What will the cards reveal?

If you ask any Investor/Trader what is the busiest period of the year for him, you will probably get the same answer – Earnings Season. Each quarter starts with the companies’ earnings results of the previous quarter. Put it simply – all of the biggest companies in the market report their profits and losses during the past quarter.

The opening shot of each Earning Season is usually Alcoa (symbol: AA) which is used by traders to indicate AA’s results. The main purpose of it is to make an educated guess regarding the outcome of the Earning Season and minimize the risks.

Currently, we are going to see some well-known banks announcing before Alcoa, which is due on October 11th. This Wednesday we are expecting to see Bank of America Corp., Citigroup Inc., and Wells Fargo reveal their results, 5 banks that together are worth almost 21 billion dollars in earnings this week.

Keep in mind that that in this quarter we have witnessed Hurricanes and natural disasters that disrupt all economic activities, but insurers and transporters get the direct hit. We’ve recently witnessed it in the estimated revisions for operators in both of those fields. Chubb (CB), for example, is now expected to report a loss of -25 cents per share in Q3. But as recently as a month ago, the insurer was expected to earn +$2.68 per the same share.
bank-of-america-logo-vector-400x400

$26.21

Bank of America Corporation is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina

The bank is confirmed to report earnings at approximately 6:45 AM ET on Friday, October 13, 2017.

The analysts’ consensus on earnings estimates is $0.45 per share on revenue of $22.19 billion.

FXPM’s analysis department is expecting an earnings of $0.49 per share with a revenue of almost $23.3 billion. “Short” interest has decreased by 6.7% since the company’s last earnings release while the stock has drifted higher by 9.6% from its open following the earnings release to be 9.9% above its 200-day moving average of $23.84. Overall earnings estimates have been revised lower since the company’s last earnings release.

PNGPIX-COM-Citigroup-Logo-PNG-Transparent-1   $75.64

Citigroup Inc. or Citi is an American multinational investment banking and financial services corporation headquartered in Manhattan, New York City.

Citigroup, Inc. (C) is confirmed to report earnings at approximately 7:45 AM ET on Thursday, October 12, 2017.

The consensus earnings estimate is an EPS of $1.30 per share with a revenue of $17.73 billion.

FXPM’s analysis team are expecting earnings of $1.32 per share.  Short interest has increased by 22.0% since the company’s last earnings release while the stock has drifted higher by 14.1% from its open following the earnings release to be 20.2% above its 200-day moving average of $62.93. Overall earnings estimates have been unchanged since the company’s last earnings release.

jpmorgan$96.92

JPMorgan Chase & Co. is a U.S. multinational banking and financial services holding company headquartered in New York City.

JPMorgan Chase & Co. (JPM) is confirmed to report earnings at approximately 7:00 AM ET on Thursday, October 12, 2017.

The consensus earnings estimate is $1.67 per share on revenue of $24.99 billion and the FXPM analysis team estimates is $1.75 per share. Short interest has increased by 14.7% since the company’s last earnings release while the stock has drifted higher by 6.7% from its open following the earnings release to be 9.1% above its 200 day moving average of $88.86. Overall earnings estimates have been revised lower since the company’s last earnings release

wells-fargo-logo-transparent $55.58

Wells Fargo & Company is an American international banking and financial services holding company headquartered in San Francisco, California, with “HubQuarters” throughout the country.

Wells Fargo & Co. (WFC) is confirmed to report earnings at approximately 8:00 AM ET on Friday, October 13, 2017.  

The earnings consensus estimate is $1.03 per share with a revenue of $22.30 billion while FXPM’s analysts’ estimate is $1.06 earnings per share. Short interest has increased by 33.9% since the company’s last earnings release while the stock has drifted higher by 2.3% from its open following the earnings release to be 1.4% above its 200-day moving average of $54.80. Overall earnings estimates have been revised lower since the company’s last earnings release.

Bank-Ozarks-Logo   $48.11

Bank of the Ozarks, Inc. (OZRK) is confirmed to report earnings at approximately 7:00 AM ET on Wednesday, October 11, 2017.

The earnings consensus estimate is $0.74 per share with a revenue of $243.67 million. FXPM analysis team is projecting a $0.75 per share earnings on a revenue of over $250 million. Short interest has decreased by 23.7% since the company’s last earnings release while the stock has drifted higher by 1.9% from its open following the earnings release to be 0.9% below its 200-day moving average of $48.53. Overall earnings estimates have been revised lower since the company’s last earnings release.

 

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