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Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
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Wells Fargo (WFC - Free Report) closed at $39.07 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.54%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 6.06% in the past month. In that same time, the Finance sector gained 4.86%, while the S&P 500 gained 4.14%.
WFC will be looking to display strength as it nears its next earnings release, which is expected to be April 14, 2021. The company is expected to report EPS of $0.60, up 5900% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.37 billion, down 1.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.60 per share and revenue of $69.98 billion, which would represent changes of +534.15% and -3.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for WFC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.42% higher. WFC is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, WFC is currently trading at a Forward P/E ratio of 15.12. Its industry sports an average Forward P/E of 13.86, so we one might conclude that WFC is trading at a premium comparatively.
Meanwhile, WFC's PEG ratio is currently 1.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. WFC's industry had an average PEG ratio of 1.8 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 85, which puts it in the top 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
Wells Fargo (WFC - Free Report) closed at $39.07 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.54%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 6.06% in the past month. In that same time, the Finance sector gained 4.86%, while the S&P 500 gained 4.14%.
WFC will be looking to display strength as it nears its next earnings release, which is expected to be April 14, 2021. The company is expected to report EPS of $0.60, up 5900% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.37 billion, down 1.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.60 per share and revenue of $69.98 billion, which would represent changes of +534.15% and -3.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for WFC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.42% higher. WFC is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, WFC is currently trading at a Forward P/E ratio of 15.12. Its industry sports an average Forward P/E of 13.86, so we one might conclude that WFC is trading at a premium comparatively.
Meanwhile, WFC's PEG ratio is currently 1.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. WFC's industry had an average PEG ratio of 1.8 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 85, which puts it in the top 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.