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Wells Fargo (WFC) Gains As Market Dips: What You Should Know
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In the latest trading session, Wells Fargo (WFC - Free Report) closed at $46.46, marking a +1.42% move from the previous day. This move outpaced the S&P 500's daily loss of 0.72%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 20.09% in the past month. In that same time, the Finance sector lost 8.39%, while the S&P 500 lost 6.24%.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. The company is expected to report EPS of $0.84, down 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.92 billion, down 0.8% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.96 per share and revenue of $73.51 billion, which would represent changes of -20% and -5.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 1.18% higher. Wells Fargo currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Wells Fargo is holding a Forward P/E ratio of 11.57. This valuation marks a discount compared to its industry's average Forward P/E of 11.68.
Meanwhile, WFC's PEG ratio is currently 1.13. 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. WFC's industry had an average PEG ratio of 1.48 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Wells Fargo (WFC - Free Report) closed at $46.46, marking a +1.42% move from the previous day. This move outpaced the S&P 500's daily loss of 0.72%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 20.09% in the past month. In that same time, the Finance sector lost 8.39%, while the S&P 500 lost 6.24%.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. The company is expected to report EPS of $0.84, down 20% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.92 billion, down 0.8% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.96 per share and revenue of $73.51 billion, which would represent changes of -20% and -5.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 1.18% higher. Wells Fargo currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Wells Fargo is holding a Forward P/E ratio of 11.57. This valuation marks a discount compared to its industry's average Forward P/E of 11.68.
Meanwhile, WFC's PEG ratio is currently 1.13. 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. WFC's industry had an average PEG ratio of 1.48 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.