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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Wells Fargo (WFC - Free Report) closed at $39.84, marking a +1.25% move from the previous day. This move outpaced the S&P 500's daily gain of 0.29%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 0.4%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 18.4% over the past month. This has outpaced the Finance sector's gain of 3.84% and the S&P 500's gain of 0.91% in that time.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be April 14, 2021. On that day, WFC is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 5900%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.37 billion, down 1.94% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $2.59 per share and revenue of $69.98 billion. These results would represent year-over-year changes of +531.71% and -3.26%, respectively.
Investors should also note any recent changes to analyst estimates for WFC. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.84% higher within the past month. WFC currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 15.31. This represents a premium compared to its industry's average Forward P/E of 14.03.
It is also worth noting that WFC currently has a PEG ratio of 1.58. 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 2.05 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 109, which puts it in the top 43% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Wells Fargo (WFC - Free Report) closed at $39.84, marking a +1.25% move from the previous day. This move outpaced the S&P 500's daily gain of 0.29%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 0.4%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 18.4% over the past month. This has outpaced the Finance sector's gain of 3.84% and the S&P 500's gain of 0.91% in that time.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be April 14, 2021. On that day, WFC is projected to report earnings of $0.60 per share, which would represent year-over-year growth of 5900%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.37 billion, down 1.94% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $2.59 per share and revenue of $69.98 billion. These results would represent year-over-year changes of +531.71% and -3.26%, respectively.
Investors should also note any recent changes to analyst estimates for WFC. These recent revisions tend to reflect the evolving nature of short-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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.84% higher within the past month. WFC currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 15.31. This represents a premium compared to its industry's average Forward P/E of 14.03.
It is also worth noting that WFC currently has a PEG ratio of 1.58. 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 2.05 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 109, which puts it in the top 43% 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.