Why JPMorgan Chase & Co. (JPM) Might be Well Poised for a Surge

JPMorgan Chase & Co. (JPM) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.Consensus earnings estimates for the next quarter and full year have moved considerably higher for JPMorgan Chase & Co. As there has been strong agreement among the covering analysts in raising estimates.Current-Quarter Estimate RevisionsThe earnings estimate of $4.49 per share for the current quarter represents a change of -3.02% from the number reported a year ago.Over the last 30 days, the Zacks Consensus Estimate for JPMorgan Chase & Co. has increased 5.74% because six estimates have moved higher compared to no negative revisions.Current-Year Estimate RevisionsFor the full year, the company is expected to earn $17.82 per share, representing a year-over-year change of -9.77%.There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, seven estimates have moved up for JPMorgan Chase & Co. versus no negative revisions. This has pushed the consensus estimate 6.26% higher.Favorable Zacks RankThanks to promising estimate revisions, JPMorgan Chase & Co. currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineInvestors have been betting on JPMorgan Chase & Co. because of its solid estimate revisions, as evident from the stock's 8.6% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 JPMorgan Chase & Co. (JPM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks