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Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
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Wells Fargo (WFC - Free Report) closed the most recent trading day at $33.19, moving -0.72% from the previous trading session. This change lagged the S&P 500's 0.55% gain on the day. At the same time, the Dow added 0.18%, and the tech-heavy Nasdaq gained 1.03%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 13.36% in the past month. In that same time, the Finance sector gained 4.9%, while the S&P 500 gained 3.13%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be January 15, 2021. In that report, analysts expect WFC to post earnings of $0.60 per share. This would mark a year-over-year decline of 35.48%. Our most recent consensus estimate is calling for quarterly revenue of $18.09 billion, down 8.93% from the year-ago period.
Any recent changes to analyst estimates for WFC should also be noted by investors. 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.
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 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 15.19% higher. WFC currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that WFC has a Forward P/E ratio of 15.2 right now. This represents a premium compared to its industry's average Forward P/E of 14.36.
Meanwhile, WFC's PEG ratio is currently 1.57. 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. The Banks - Major Regional was holding an average PEG ratio of 2.17 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
Wells Fargo (WFC - Free Report) closed the most recent trading day at $33.19, moving -0.72% from the previous trading session. This change lagged the S&P 500's 0.55% gain on the day. At the same time, the Dow added 0.18%, and the tech-heavy Nasdaq gained 1.03%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 13.36% in the past month. In that same time, the Finance sector gained 4.9%, while the S&P 500 gained 3.13%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be January 15, 2021. In that report, analysts expect WFC to post earnings of $0.60 per share. This would mark a year-over-year decline of 35.48%. Our most recent consensus estimate is calling for quarterly revenue of $18.09 billion, down 8.93% from the year-ago period.
Any recent changes to analyst estimates for WFC should also be noted by investors. 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.
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 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 15.19% higher. WFC currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that WFC has a Forward P/E ratio of 15.2 right now. This represents a premium compared to its industry's average Forward P/E of 14.36.
Meanwhile, WFC's PEG ratio is currently 1.57. 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. The Banks - Major Regional was holding an average PEG ratio of 2.17 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.