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Wells Fargo (WFC) Gains As Market Dips: What You Should Know
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Wells Fargo (WFC - Free Report) closed the most recent trading day at $29.05, moving +0.38% from the previous trading session. This change outpaced the S&P 500's 0.8% loss on the day. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 1.94%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 19.64% in the past month. In that same time, the Finance sector gained 11.8%, while the S&P 500 gained 5.72%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. On that day, WFC is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 35.48%. Meanwhile, our latest consensus estimate is calling for revenue of $17.93 billion, down 9.7% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $72.31 billion, which would represent changes of -90.64% and -14.99%, respectively, from the prior year.
Any recent changes to analyst estimates for WFC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.76% higher. WFC is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note WFC's current valuation metrics, including its Forward P/E ratio of 70.74. This valuation marks a premium compared to its industry's average Forward P/E of 14.36.
It is also worth noting that WFC currently has a PEG ratio of 7.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WFC's industry had an average PEG ratio of 2.04 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 129, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Wells Fargo (WFC) Gains As Market Dips: What You Should Know
Wells Fargo (WFC - Free Report) closed the most recent trading day at $29.05, moving +0.38% from the previous trading session. This change outpaced the S&P 500's 0.8% loss on the day. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 1.94%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 19.64% in the past month. In that same time, the Finance sector gained 11.8%, while the S&P 500 gained 5.72%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. On that day, WFC is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 35.48%. Meanwhile, our latest consensus estimate is calling for revenue of $17.93 billion, down 9.7% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.41 per share and revenue of $72.31 billion, which would represent changes of -90.64% and -14.99%, respectively, from the prior year.
Any recent changes to analyst estimates for WFC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.76% higher. WFC is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note WFC's current valuation metrics, including its Forward P/E ratio of 70.74. This valuation marks a premium compared to its industry's average Forward P/E of 14.36.
It is also worth noting that WFC currently has a PEG ratio of 7.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WFC's industry had an average PEG ratio of 2.04 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 129, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.