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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Wells Fargo (WFC - Free Report) closed at $54.22, marking a +0.8% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.91%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 0.56% in the past month. In that same time, the Finance sector gained 2.05%, while the S&P 500 gained 2.64%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. In that report, analysts expect WFC to post earnings of $1.09 per share. This would mark a year-over-year decline of 9.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.90 billion, down 5.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $83.56 billion. These totals would mark changes of +5.14% and -3.3%, respectively, from last year.
Any recent changes to analyst estimates for WFC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% lower. WFC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 11.95. This valuation marks a discount compared to its industry's average Forward P/E of 12.54.
It is also worth noting that WFC currently has a PEG ratio of 1.07. 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 1.54 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 78, which puts it in the top 31% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Wells Fargo (WFC - Free Report) closed at $54.22, marking a +0.8% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.72%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.91%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 0.56% in the past month. In that same time, the Finance sector gained 2.05%, while the S&P 500 gained 2.64%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. In that report, analysts expect WFC to post earnings of $1.09 per share. This would mark a year-over-year decline of 9.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $19.90 billion, down 5.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $83.56 billion. These totals would mark changes of +5.14% and -3.3%, respectively, from last year.
Any recent changes to analyst estimates for WFC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% lower. WFC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 11.95. This valuation marks a discount compared to its industry's average Forward P/E of 12.54.
It is also worth noting that WFC currently has a PEG ratio of 1.07. 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 1.54 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 78, which puts it in the top 31% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.