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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Wells Fargo (WFC - Free Report) closed at $48.71, marking a +0.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had lost 5.43% over the past month. This has lagged the Finance sector's gain of 1.56% and the S&P 500's gain of 3.75% in that time.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. On that day, Wells Fargo is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 3.81%. Our most recent consensus estimate is calling for quarterly revenue of $17.89 billion, down 0.93% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.02 per share and revenue of $73.52 billion. These results would represent year-over-year changes of -18.79% and -5.77%, respectively.
Investors might also notice recent changes to analyst estimates for Wells Fargo. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 0.33% higher within the past month. Wells Fargo is currently a Zacks Rank #3 (Hold).
Investors should also note Wells Fargo's current valuation metrics, including its Forward P/E ratio of 12.06. Its industry sports an average Forward P/E of 12.24, 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 1.18 right now. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.49 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
View the Zacks #1 Rank List
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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Wells Fargo (WFC - Free Report) closed at $48.71, marking a +0.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had lost 5.43% over the past month. This has lagged the Finance sector's gain of 1.56% and the S&P 500's gain of 3.75% in that time.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. On that day, Wells Fargo is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 3.81%. Our most recent consensus estimate is calling for quarterly revenue of $17.89 billion, down 0.93% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.02 per share and revenue of $73.52 billion. These results would represent year-over-year changes of -18.79% and -5.77%, respectively.
Investors might also notice recent changes to analyst estimates for Wells Fargo. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 0.33% higher within the past month. Wells Fargo is currently a Zacks Rank #3 (Hold).
Investors should also note Wells Fargo's current valuation metrics, including its Forward P/E ratio of 12.06. Its industry sports an average Forward P/E of 12.24, 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 1.18 right now. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.49 based on yesterday's closing prices.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.