Several major companies are set to announce their earnings before the market opens tomorrow, with financial heavyweights taking the spotlight. JPMorgan Chase (JPM) is expected to report a per-share profit of $4.64, making it a key focus for investors eager to gauge the health of the banking sector.
Alongside JPMorgan, Wells Fargo (WFC) is anticipated to disclose earnings of $1.23 per share. Morgan Stanley (MS) is projected to announce an earnings per share (EPS) of $2.19. The reports from these banks will provide valuable insight into the performance and strategic direction of U.S. financial institutions amid ongoing economic uncertainties.
Additionally, Blackrock (BLK) is expected to reveal a robust EPS of $10.21, reflecting its continued influence in the investment management industry. Meanwhile, BNY Mellon (BK, Financial) has a consensus forecast of $1.49 per share, and Fastenal (FAST) is predicted to announce earnings of 52 cents per share.
These earnings will be closely watched by investors and analysts for indications of broader market trends and the resilience of these prominent companies in varying economic conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Bank of New York Mellon Corp (BK, Financial) is $91.80 with a high estimate of $104.00 and a low estimate of $71.21. The average target implies an upside of 20.93% from the current price of $75.91. More detailed estimate data can be found on the Bank of New York Mellon Corp (BK) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Bank of New York Mellon Corp's (BK, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Bank of New York Mellon Corp (BK, Financial) in one year is $64.69, suggesting a downside of 14.78% from the current price of $75.9125. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Bank of New York Mellon Corp (BK) Summary page.
