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Wells Fargo (WFC) Declines More Than Market: Some Information for Investors
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Wells Fargo (WFC - Free Report) ended the recent trading session at $49.22, demonstrating a -0.53% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
The biggest U.S. mortgage lender's stock has climbed by 10.97% in the past month, exceeding the Finance sector's gain of 8.34% and the S&P 500's gain of 5.24%.
Investors will be eagerly watching for the performance of Wells Fargo in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 12, 2024. On that day, Wells Fargo is projected to report earnings of $1.16 per share, which would represent year-over-year growth of 73.13%. Alongside, our most recent consensus estimate is anticipating revenue of $20.29 billion, indicating a 3.2% upward movement from the same quarter last year.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $5.08 per share and revenue of $82.45 billion. These results would represent year-over-year changes of +61.78% and +11.74%, respectively.
Investors might also notice recent changes to analyst estimates for Wells Fargo. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.5% downward. At present, Wells Fargo boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Wells Fargo is currently exchanging hands at a Forward P/E ratio of 9.73. This denotes a discount relative to the industry's average Forward P/E of 10.18.
We can also see that WFC currently has a PEG ratio of 0.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.56.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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) Declines More Than Market: Some Information for Investors
Wells Fargo (WFC - Free Report) ended the recent trading session at $49.22, demonstrating a -0.53% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
The biggest U.S. mortgage lender's stock has climbed by 10.97% in the past month, exceeding the Finance sector's gain of 8.34% and the S&P 500's gain of 5.24%.
Investors will be eagerly watching for the performance of Wells Fargo in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 12, 2024. On that day, Wells Fargo is projected to report earnings of $1.16 per share, which would represent year-over-year growth of 73.13%. Alongside, our most recent consensus estimate is anticipating revenue of $20.29 billion, indicating a 3.2% upward movement from the same quarter last year.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $5.08 per share and revenue of $82.45 billion. These results would represent year-over-year changes of +61.78% and +11.74%, respectively.
Investors might also notice recent changes to analyst estimates for Wells Fargo. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.5% downward. At present, Wells Fargo boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Wells Fargo is currently exchanging hands at a Forward P/E ratio of 9.73. This denotes a discount relative to the industry's average Forward P/E of 10.18.
We can also see that WFC currently has a PEG ratio of 0.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.56.
The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.