Wells Fargo (WFC - Free Report) closed the most recent trading day at $38.17, moving +1.98% from the previous trading session. This change outpaced the S&P 500's 1.46% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had lost 14.37% over the past month. This has lagged the Finance sector's loss of 6.38% and the S&P 500's loss of 6.94% in that time.
Wells Fargo will be looking to display strength as it nears its next earnings release. On that day, Wells Fargo is projected to report earnings of $0.93 per share, which would represent a year-over-year decline of 32.61%. Meanwhile, our latest consensus estimate is calling for revenue of $17.87 billion, down 11.83% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.13 per share and revenue of $73.38 billion. These results would represent year-over-year changes of -16.57% and -5.95%, respectively.
Investors should also note any recent changes to analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.19% lower within the past month. Wells Fargo currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Wells Fargo has a Forward P/E ratio of 9.06 right now. Its industry sports an average Forward P/E of 9.47, so we one might conclude that Wells Fargo is trading at a discount comparatively.
Investors should also note that WFC has a PEG ratio of 0.89 right now. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.34 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
Wells Fargo (WFC - Free Report) closed the most recent trading day at $38.17, moving +1.98% from the previous trading session. This change outpaced the S&P 500's 1.46% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had lost 14.37% over the past month. This has lagged the Finance sector's loss of 6.38% and the S&P 500's loss of 6.94% in that time.
Wells Fargo will be looking to display strength as it nears its next earnings release. On that day, Wells Fargo is projected to report earnings of $0.93 per share, which would represent a year-over-year decline of 32.61%. Meanwhile, our latest consensus estimate is calling for revenue of $17.87 billion, down 11.83% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.13 per share and revenue of $73.38 billion. These results would represent year-over-year changes of -16.57% and -5.95%, respectively.
Investors should also note any recent changes to analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.19% lower within the past month. Wells Fargo currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Wells Fargo has a Forward P/E ratio of 9.06 right now. Its industry sports an average Forward P/E of 9.47, so we one might conclude that Wells Fargo is trading at a discount comparatively.
Investors should also note that WFC has a PEG ratio of 0.89 right now. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.34 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
Get the latest research report on WFC - FREE