We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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) Stock Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
In the latest close session, Wells Fargo (WFC - Free Report) was down 2.05% at $75.93. The stock's performance was behind the S&P 500's daily gain of 0.02%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.07%.
Heading into today, shares of the biggest U.S. mortgage lender had lost 4.88% over the past month, lagging the Finance sector's gain of 2.28% and the S&P 500's gain of 5.12%.
The investment community will be paying close attention to the earnings performance of Wells Fargo in its upcoming release. It is anticipated that the company will report an EPS of $1.71, marking a 11.04% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $21.65 billion, indicating a 3.98% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.84 per share and revenue of $87.56 billion, which would represent changes of +8.92% and +4.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Wells Fargo. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% higher. At present, Wells Fargo boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 11.33. This indicates a discount in contrast to its industry's Forward P/E of 12.86.
It is also worth noting that WFC currently has a PEG ratio of 0.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Financial - Investment Bank industry stood at 0.92 at the close of the market yesterday.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 41% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest close session, Wells Fargo (WFC - Free Report) was down 2.05% at $75.93. The stock's performance was behind the S&P 500's daily gain of 0.02%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.07%.
Heading into today, shares of the biggest U.S. mortgage lender had lost 4.88% over the past month, lagging the Finance sector's gain of 2.28% and the S&P 500's gain of 5.12%.
The investment community will be paying close attention to the earnings performance of Wells Fargo in its upcoming release. It is anticipated that the company will report an EPS of $1.71, marking a 11.04% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $21.65 billion, indicating a 3.98% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.84 per share and revenue of $87.56 billion, which would represent changes of +8.92% and +4.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Wells Fargo. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.19% higher. At present, Wells Fargo boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 11.33. This indicates a discount in contrast to its industry's Forward P/E of 12.86.
It is also worth noting that WFC currently has a PEG ratio of 0.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Financial - Investment Bank industry stood at 0.92 at the close of the market yesterday.
The Financial - Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 41% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.