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Wells Fargo (WFC) Stock Moves -0.87%: What You Should Know
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Wells Fargo (WFC - Free Report) closed the most recent trading day at $52.29, moving -0.87% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Heading into today, shares of the biggest U.S. mortgage lender had gained 4.98% over the past month, lagging the Finance sector's gain of 6.6% and the S&P 500's gain of 5.72% in that time.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. This is expected to be January 14, 2022. The company is expected to report EPS of $1.11, up 73.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.38 billion, up 2.55% from the year-ago period.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 0.86% higher. Wells Fargo is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 14.08. Its industry sports an average Forward P/E of 13.46, so we one might conclude that Wells Fargo is trading at a premium comparatively.
We can also see that WFC currently has a PEG ratio of 1.38. 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 1.45 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 24, which puts it in the top 10% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Wells Fargo (WFC) Stock Moves -0.87%: What You Should Know
Wells Fargo (WFC - Free Report) closed the most recent trading day at $52.29, moving -0.87% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Heading into today, shares of the biggest U.S. mortgage lender had gained 4.98% over the past month, lagging the Finance sector's gain of 6.6% and the S&P 500's gain of 5.72% in that time.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. This is expected to be January 14, 2022. The company is expected to report EPS of $1.11, up 73.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $18.38 billion, up 2.55% from the year-ago period.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 0.86% higher. Wells Fargo is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 14.08. Its industry sports an average Forward P/E of 13.46, so we one might conclude that Wells Fargo is trading at a premium comparatively.
We can also see that WFC currently has a PEG ratio of 1.38. 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 1.45 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 24, which puts it in the top 10% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.