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Wells Fargo (WFC) Stock Moves -0.81%: What You Should Know
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Wells Fargo (WFC - Free Report) closed at $42.87 in the latest trading session, marking a -0.81% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.94%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 1.53%.
Heading into today, shares of the biggest U.S. mortgage lender had gained 4.14% over the past month, outpacing the Finance sector's gain of 2.54% and the S&P 500's gain of 1.85% in that time.
Wells Fargo will be looking to display strength as it nears its next earnings release, which is expected to be October 13, 2023. The company is expected to report EPS of $1.24, down 4.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.23 billion, up 3.72% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.84 per share and revenue of $81.31 billion. These results would represent year-over-year changes of +54.14% and +10.2%, respectively.
Investors might also notice recent changes to analyst estimates for Wells Fargo. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 0.51% lower. Wells Fargo is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Wells Fargo's current valuation metrics, including its Forward P/E ratio of 8.93. Its industry sports an average Forward P/E of 8.43, so we one might conclude that Wells Fargo is trading at a premium comparatively.
We can also see that WFC currently has a PEG ratio of 0.88. 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. WFC's industry had an average PEG ratio of 1.44 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 164, which puts it in the bottom 35% 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) Stock Moves -0.81%: What You Should Know
Wells Fargo (WFC - Free Report) closed at $42.87 in the latest trading session, marking a -0.81% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.94%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 1.53%.
Heading into today, shares of the biggest U.S. mortgage lender had gained 4.14% over the past month, outpacing the Finance sector's gain of 2.54% and the S&P 500's gain of 1.85% in that time.
Wells Fargo will be looking to display strength as it nears its next earnings release, which is expected to be October 13, 2023. The company is expected to report EPS of $1.24, down 4.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.23 billion, up 3.72% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.84 per share and revenue of $81.31 billion. These results would represent year-over-year changes of +54.14% and +10.2%, respectively.
Investors might also notice recent changes to analyst estimates for Wells Fargo. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 0.51% lower. Wells Fargo is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Wells Fargo's current valuation metrics, including its Forward P/E ratio of 8.93. Its industry sports an average Forward P/E of 8.43, so we one might conclude that Wells Fargo is trading at a premium comparatively.
We can also see that WFC currently has a PEG ratio of 0.88. 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. WFC's industry had an average PEG ratio of 1.44 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 164, which puts it in the bottom 35% 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.