We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wells Fargo (WFC) Stock Moves -1.07%: What You Should Know
Read MoreHide Full Article
Wells Fargo (WFC - Free Report) closed at $41.79 in the latest trading session, marking a -1.07% move from the prior day. This change was narrower than the S&P 500's 2.8% loss on the day. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 6.61% in the past month. In that same time, the Finance sector lost 4.31%, while the S&P 500 lost 4.08%.
Investors will be hoping for strength from Wells Fargo as it approaches its next earnings release. The company is expected to report EPS of $1.09, down 6.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.69 billion, down 0.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.99 per share and revenue of $72.93 billion. These totals would mark changes of -19.39% and -6.52%, respectively, from last year.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.23% lower. Wells Fargo is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Wells Fargo is holding a Forward P/E ratio of 10.59. For comparison, its industry has an average Forward P/E of 9.57, which means Wells Fargo is trading at a premium to the group.
It is also worth noting that WFC currently has a PEG ratio of 1.04. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.16 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Wells Fargo (WFC) Stock Moves -1.07%: What You Should Know
Wells Fargo (WFC - Free Report) closed at $41.79 in the latest trading session, marking a -1.07% move from the prior day. This change was narrower than the S&P 500's 2.8% loss on the day. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 6.61% in the past month. In that same time, the Finance sector lost 4.31%, while the S&P 500 lost 4.08%.
Investors will be hoping for strength from Wells Fargo as it approaches its next earnings release. The company is expected to report EPS of $1.09, down 6.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.69 billion, down 0.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.99 per share and revenue of $72.93 billion. These totals would mark changes of -19.39% and -6.52%, respectively, from last year.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.23% lower. Wells Fargo is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Wells Fargo is holding a Forward P/E ratio of 10.59. For comparison, its industry has an average Forward P/E of 9.57, which means Wells Fargo is trading at a premium to the group.
It is also worth noting that WFC currently has a PEG ratio of 1.04. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.16 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.