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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 at $43.84 in the latest trading session, marking a -1.37% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 1.54%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 7.65% in the past month. In that same time, the Finance sector lost 4.43%, while the S&P 500 lost 4.07%.
Investors will be hoping for strength from Wells Fargo as it approaches its next earnings release. On that day, Wells Fargo is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 35.23%. Our most recent consensus estimate is calling for quarterly revenue of $20.41 billion, up 16.02% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $80.17 billion. These results would represent year-over-year changes of +53.18% and +8.65%, respectively.
Investors should also note any recent changes to analyst estimates for Wells Fargo. Recent revisions tend to reflect the latest near-term business trends. 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. 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 remained stagnant. Wells Fargo is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 9.24. This represents a premium compared to its industry's average Forward P/E of 9.13.
It is also worth noting that WFC currently has a PEG ratio of 0.9. 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 industry currently had an average PEG ratio of 1.39 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 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much 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 at $43.84 in the latest trading session, marking a -1.37% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 1.54%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 7.65% in the past month. In that same time, the Finance sector lost 4.43%, while the S&P 500 lost 4.07%.
Investors will be hoping for strength from Wells Fargo as it approaches its next earnings release. On that day, Wells Fargo is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 35.23%. Our most recent consensus estimate is calling for quarterly revenue of $20.41 billion, up 16.02% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $80.17 billion. These results would represent year-over-year changes of +53.18% and +8.65%, respectively.
Investors should also note any recent changes to analyst estimates for Wells Fargo. Recent revisions tend to reflect the latest near-term business trends. 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. 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 remained stagnant. Wells Fargo is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 9.24. This represents a premium compared to its industry's average Forward P/E of 9.13.
It is also worth noting that WFC currently has a PEG ratio of 0.9. 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 industry currently had an average PEG ratio of 1.39 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 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.