Cramer Provides Outlook For This Week's Big Banks Earnings

On Friday''s “Mad Money,” Jim Cramer provided his outlook for the earnings for big banks, scheduled to be reported later this week.

He said JPMorgan Chase & Company JPM is a well-run company and has been reporting terrific numbers. However, the earnings are typically not terrific enough to trigger a rally, he noted. JPMorgan is scheduled to report results on Wednesday morning.

Wells Fargo’s WFC earnings release, scheduled for Thursday morning, is likely to be “amazing,” Cramer said. Wells Fargo’s quarterly report will not be “as bad as it used to be,” he added.

See Also: Why This Analyst Is Raising Big Bank Price Targets Ahead Of Q3 Earnings

Cramer believes Citigroup C continues to be “perennially cheap” and that is not about to change anytime soon.

Bank of America Corp BAC, scheduled to report Thursday morning, could have “a real earnings breakout,” given the steep climb in long-term interest rates, he commented.

Goldman Sachs Group Inc GS is likely to report great earnings on Friday morning, with expenses under control, strong wealth management, and healthy fixed income, Cramer said. Since the stock tracks the earnings, it would be “a fool’s errand” to chase a stellar report, he added.