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Wells Fargo (WFC) Dips More Than Broader Markets: What You Should Know
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Wells Fargo (WFC - Free Report) closed the most recent trading day at $38.24, moving -1.87% from the previous trading session. This change lagged the S&P 500's 0.76% loss on the day. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, lost 1.12%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 4.59% in the past month. In that same time, the Finance sector gained 2.38%, while the S&P 500 gained 1.74%.
WFC will be looking to display strength as it nears its next earnings release, which 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 $2.60 per share and revenue of $69.98 billion. These results would represent year-over-year changes of +534.15% 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 2.3% higher. WFC is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note WFC's current valuation metrics, including its Forward P/E ratio of 14.96. This represents a premium compared to its industry's average Forward P/E of 13.55.
Also, we should mention that WFC has a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional industry currently had an average PEG ratio of 1.98 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 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Wells Fargo (WFC) Dips More Than Broader Markets: What You Should Know
Wells Fargo (WFC - Free Report) closed the most recent trading day at $38.24, moving -1.87% from the previous trading session. This change lagged the S&P 500's 0.76% loss on the day. Meanwhile, the Dow lost 0.94%, and the Nasdaq, a tech-heavy index, lost 1.12%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 4.59% in the past month. In that same time, the Finance sector gained 2.38%, while the S&P 500 gained 1.74%.
WFC will be looking to display strength as it nears its next earnings release, which 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 $2.60 per share and revenue of $69.98 billion. These results would represent year-over-year changes of +534.15% 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 2.3% higher. WFC is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note WFC's current valuation metrics, including its Forward P/E ratio of 14.96. This represents a premium compared to its industry's average Forward P/E of 13.55.
Also, we should mention that WFC has a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Major Regional industry currently had an average PEG ratio of 1.98 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 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.