Wells Fargo (WFC - Free Report) closed at $45.51 in the latest trading session, marking a -0.42% move from the prior day. This change was narrower than the S&P 500's 0.68% loss on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 1.46%.
Prior to today's trading, shares of the biggest U.S. mortgage lender had lost 3.95% over the past month. This has lagged the Finance sector's loss of 2.11% and the S&P 500's loss of 1.19% in that time.
Wall Street will be looking for positivity from WFC as it approaches its next earnings report date. On that day, WFC is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 10.19%. Meanwhile, our latest consensus estimate is calling for revenue of $20.92 billion, down 2.95% from the prior-year quarter.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $4.75 per share and revenue of $83.57 billion. These results would represent year-over-year changes of +10.98% and -3.29%, respectively.
Investors might also notice recent changes to analyst estimates for WFC. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 has moved 0.31% lower. WFC currently has a Zacks Rank of #3 (Hold).
Digging into valuation, WFC currently has a Forward P/E ratio of 9.62. This valuation marks a discount compared to its industry's average Forward P/E of 10.9.
Investors should also note that WFC has a PEG ratio of 0.86 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Banks - Major Regional was holding an average PEG ratio of 1.32 at yesterday's closing price.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.