We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wells Fargo (WFC) Laps the Stock Market: Here's Why
Read MoreHide Full Article
The most recent trading session ended with Wells Fargo (WFC - Free Report) standing at $50.09, reflecting a +0.87% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.59%. Meanwhile, the Dow experienced a rise of 0.68%, and the technology-dominated Nasdaq saw an increase of 0.66%.
The the stock of biggest U.S. mortgage lender has risen by 16.06% in the past month, leading the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16%.
The investment community will be paying close attention to the earnings performance of Wells Fargo in its upcoming release. The company is slated to reveal its earnings on January 12, 2024. The company's upcoming EPS is projected at $1.23, signifying an 83.58% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $20.29 billion, up 3.2% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.22 per share and revenue of $82.45 billion. These totals would mark changes of +66.24% and +11.74%, respectively, from last year.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% lower. Right now, Wells Fargo possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Wells Fargo is at present trading with a Forward P/E ratio of 9.51. This indicates a discount in contrast to its industry's Forward P/E of 10.21.
We can additionally observe that WFC currently boasts a PEG ratio of 0.93. 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 1.47 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Wells Fargo (WFC) Laps the Stock Market: Here's Why
The most recent trading session ended with Wells Fargo (WFC - Free Report) standing at $50.09, reflecting a +0.87% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.59%. Meanwhile, the Dow experienced a rise of 0.68%, and the technology-dominated Nasdaq saw an increase of 0.66%.
The the stock of biggest U.S. mortgage lender has risen by 16.06% in the past month, leading the Finance sector's gain of 7.84% and the S&P 500's gain of 5.16%.
The investment community will be paying close attention to the earnings performance of Wells Fargo in its upcoming release. The company is slated to reveal its earnings on January 12, 2024. The company's upcoming EPS is projected at $1.23, signifying an 83.58% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $20.29 billion, up 3.2% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.22 per share and revenue of $82.45 billion. These totals would mark changes of +66.24% and +11.74%, respectively, from last year.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% lower. Right now, Wells Fargo possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Wells Fargo is at present trading with a Forward P/E ratio of 9.51. This indicates a discount in contrast to its industry's Forward P/E of 10.21.
We can additionally observe that WFC currently boasts a PEG ratio of 0.93. 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 1.47 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.