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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 the most recent trading day at $48.78, moving -0.79% from the previous trading session. This change lagged the S&P 500's 0.46% gain on the day. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.59%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 1.03% in the past month. In that same time, the Finance sector gained 0.89%, while the S&P 500 gained 3.24%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be April 12, 2019. On that day, WFC is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 3.57%. Meanwhile, our latest consensus estimate is calling for revenue of $20.81 billion, down 5.14% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.94 per share and revenue of $84.84 billion. These results would represent year-over-year changes of +15.42% and -1.82%, respectively.
Investors might also notice recent changes to analyst estimates for WFC. Recent revisions tend to reflect the latest 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 0.51% lower within the past month. WFC is currently a Zacks Rank #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 9.96. This valuation marks a discount compared to its industry's average Forward P/E of 10.78.
Also, we should mention that WFC has a PEG ratio of 0.89. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.27 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 100, which puts it in the top 40% 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.
To follow WFC in the coming trading sessions, be sure to utilize Zacks.com.
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Wells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
Wells Fargo (WFC - Free Report) closed the most recent trading day at $48.78, moving -0.79% from the previous trading session. This change lagged the S&P 500's 0.46% gain on the day. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.59%.
Coming into today, shares of the biggest U.S. mortgage lender had lost 1.03% in the past month. In that same time, the Finance sector gained 0.89%, while the S&P 500 gained 3.24%.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. This is expected to be April 12, 2019. On that day, WFC is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 3.57%. Meanwhile, our latest consensus estimate is calling for revenue of $20.81 billion, down 5.14% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.94 per share and revenue of $84.84 billion. These results would represent year-over-year changes of +15.42% and -1.82%, respectively.
Investors might also notice recent changes to analyst estimates for WFC. Recent revisions tend to reflect the latest 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 0.51% lower within the past month. WFC is currently a Zacks Rank #3 (Hold).
Looking at its valuation, WFC is holding a Forward P/E ratio of 9.96. This valuation marks a discount compared to its industry's average Forward P/E of 10.78.
Also, we should mention that WFC has a PEG ratio of 0.89. 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. Banks - Major Regional stocks are, on average, holding a PEG ratio of 1.27 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 100, which puts it in the top 40% 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.
To follow WFC in the coming trading sessions, be sure to utilize Zacks.com.