MarketDigits

Four of Wall Street’s biggest banks report third-quarter results before the opening bell on Tuesday, and options traders are bracing for moves of roughly 3.7% to 5% in their stocks, according to Benzinga. But analysts do not agree on what the banks will earn. Estimates for Goldman Sachs alone range from $12.44 to $14.84 per share, a gap of about 19% by our calculation, which means whether Goldman “beats” may depend on which benchmark you use. This follows our earlier preview of the big banks' third-quarter earnings, which covered the consensus numbers and the yield backdrop. Analysts Don’t Agree on Goldman LSEG consensus puts third-quarter earnings at $5.94 per share for JPMorgan, $12.44 for Goldman Sachs, $2.41 for Citigroup and $1.85 for Wells Fargo, according to Mitrade. Other trackers are higher for some banks. Fiscal.ai data cited by Stocktwits show $14.84 for Goldman on revenue of $17.92 billion, $2.69 for Citi on $23.5 billion, and $5.95 for JPMorgan on $51.16 billion. Tra...

Wall Street’s third-quarter earnings season begins in earnest on Tuesday, October 13, when four of the six largest US banks report results. The timing is delicate: the 10-year Treasury yield was approaching 5.35% on Thursday, its highest level since 2002, according to Investrade, and oil is hovering near $100 a barrel. Because banks sit at the center of lending, dealmaking and consumer spending, their results double as a health check on the economy. What the Banks Are Expected to Report Reuters reports that third-quarter earnings are expected to rise as much as 20% from a year earlier for the largest banks, with investment banking and trading revenue significantly higher and no signs of deterioration in credit quality. LSEG estimates as of October 7 call for JPMorgan to earn $5.94 per share versus $5.07 a year ago, Citigroup $2.41 versus $2.24, Wells Fargo $1.85 versus $1.66, and Goldman Sachs $12.44 versus $12.25. By our calculation, that implies growth of roughly 17%, 8%, 11% and 2...