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Wells Fargo (WFC) Gains As Market Dips: What You Should Know
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Wells Fargo (WFC - Free Report) closed the most recent trading day at $36.96, moving +1.01% from the previous trading session. This change outpaced the S&P 500's 0.44% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.72%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 6.62% in the past month. In that same time, the Finance sector gained 4.53%, while the S&P 500 gained 4.46%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. On that day, WFC is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 5700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.35 billion, down 2.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.55 per share and revenue of $69.88 billion, which would represent changes of +521.95% and -3.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for WFC. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.15% higher. WFC currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 13.79. This valuation marks a premium compared to its industry's average Forward P/E of 12.81.
Meanwhile, WFC's PEG ratio is currently 1.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.97 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 45, which puts it in the top 18% 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.
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Wells Fargo (WFC) Gains As Market Dips: What You Should Know
Wells Fargo (WFC - Free Report) closed the most recent trading day at $36.96, moving +1.01% from the previous trading session. This change outpaced the S&P 500's 0.44% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.72%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 6.62% in the past month. In that same time, the Finance sector gained 4.53%, while the S&P 500 gained 4.46%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. On that day, WFC is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 5700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.35 billion, down 2.06% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.55 per share and revenue of $69.88 billion, which would represent changes of +521.95% and -3.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for WFC. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.15% higher. WFC currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 13.79. This valuation marks a premium compared to its industry's average Forward P/E of 12.81.
Meanwhile, WFC's PEG ratio is currently 1.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional industry currently had an average PEG ratio of 1.97 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 45, which puts it in the top 18% 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.