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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
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In the latest close session, Wells Fargo (WFC - Free Report) was up +1.33% at $88.56. The stock's change was more than the S&P 500's daily gain of 0.56%. At the same time, the Dow added 0.26%, and the tech-heavy Nasdaq gained 0.78%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 0.85% outpaced the Finance sector's loss of 1.23% and the S&P 500's loss of 1.27%.
Market participants will be closely following the financial results of Wells Fargo in its upcoming release. The company is forecasted to report an EPS of $1.56, showcasing a 22.83% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $21.66 billion, reflecting a 7.49% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.88 per share and a revenue of $88.29 billion, indicating changes of +9.55% and +5.48%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.3% fall in the Zacks Consensus EPS estimate. Wells Fargo presently features a Zacks Rank of #3 (Hold).
Investors should also note Wells Fargo's current valuation metrics, including its Forward P/E ratio of 12.7. This signifies a discount in comparison to the average Forward P/E of 14.35 for its industry.
Investors should also note that WFC has a PEG ratio of 0.96 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 35, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Outpaces Stock Market Gains: What You Should Know
In the latest close session, Wells Fargo (WFC - Free Report) was up +1.33% at $88.56. The stock's change was more than the S&P 500's daily gain of 0.56%. At the same time, the Dow added 0.26%, and the tech-heavy Nasdaq gained 0.78%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had gained 0.85% outpaced the Finance sector's loss of 1.23% and the S&P 500's loss of 1.27%.
Market participants will be closely following the financial results of Wells Fargo in its upcoming release. The company is forecasted to report an EPS of $1.56, showcasing a 22.83% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $21.66 billion, reflecting a 7.49% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.88 per share and a revenue of $88.29 billion, indicating changes of +9.55% and +5.48%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Wells Fargo. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.3% fall in the Zacks Consensus EPS estimate. Wells Fargo presently features a Zacks Rank of #3 (Hold).
Investors should also note Wells Fargo's current valuation metrics, including its Forward P/E ratio of 12.7. This signifies a discount in comparison to the average Forward P/E of 14.35 for its industry.
Investors should also note that WFC has a PEG ratio of 0.96 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 35, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.