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Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest market close, Wells Fargo (WFC - Free Report) reached $42.79, with a -0.4% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1.13%.
The upcoming earnings release of Wells Fargo will be of great interest to investors. It is anticipated that the company will report an EPS of $1.24, marking an 85.07% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $20.25 billion, indicating a 3.01% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.24 per share and a revenue of $82.32 billion, indicating changes of +66.88% and +11.56%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.92% higher. At present, Wells Fargo boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Wells Fargo is presently trading at a Forward P/E ratio of 8.2. This denotes a discount relative to the industry's average Forward P/E of 8.72.
It is also worth noting that WFC currently has a PEG ratio of 0.8. 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 1.39 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 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Wells Fargo (WFC - Free Report) reached $42.79, with a -0.4% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1.13%.
The upcoming earnings release of Wells Fargo will be of great interest to investors. It is anticipated that the company will report an EPS of $1.24, marking an 85.07% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $20.25 billion, indicating a 3.01% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.24 per share and a revenue of $82.32 billion, indicating changes of +66.88% and +11.56%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.92% higher. At present, Wells Fargo boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Wells Fargo is presently trading at a Forward P/E ratio of 8.2. This denotes a discount relative to the industry's average Forward P/E of 8.72.
It is also worth noting that WFC currently has a PEG ratio of 0.8. 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 1.39 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 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.