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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 at $46.46 in the latest trading session, marking a -0.75% move from the prior day. This move lagged the S&P 500's daily loss of 0.36%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 1.89% over the past month. This has lagged the Finance sector's gain of 4.54% and outpaced the S&P 500's gain of 0.75% in that time.
WFC will be looking to display strength as it nears its next earnings release. On that day, WFC is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 236.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.71 billion, down 0.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.72 per share and revenue of $71.06 billion, which would represent changes of +807.32% and -1.77%, respectively, from the prior year.
Any recent changes to analyst estimates for WFC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% higher. WFC is currently a Zacks Rank #3 (Hold).
In terms of valuation, WFC is currently trading at a Forward P/E ratio of 12.58. This valuation marks a discount compared to its industry's average Forward P/E of 12.75.
Also, we should mention that WFC has a PEG ratio of 1.23. 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 was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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.
To follow WFC in the coming trading sessions, be sure to utilize Zacks.com.
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Wells Fargo (WFC) Dips More Than Broader Markets: What You Should Know
Wells Fargo (WFC - Free Report) closed at $46.46 in the latest trading session, marking a -0.75% move from the prior day. This move lagged the S&P 500's daily loss of 0.36%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 1.89% over the past month. This has lagged the Finance sector's gain of 4.54% and outpaced the S&P 500's gain of 0.75% in that time.
WFC will be looking to display strength as it nears its next earnings release. On that day, WFC is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 236.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.71 billion, down 0.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.72 per share and revenue of $71.06 billion, which would represent changes of +807.32% and -1.77%, respectively, from the prior year.
Any recent changes to analyst estimates for WFC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% higher. WFC is currently a Zacks Rank #3 (Hold).
In terms of valuation, WFC is currently trading at a Forward P/E ratio of 12.58. This valuation marks a discount compared to its industry's average Forward P/E of 12.75.
Also, we should mention that WFC has a PEG ratio of 1.23. 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 was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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.
To follow WFC in the coming trading sessions, be sure to utilize Zacks.com.