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Wells Fargo (WFC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Wells Fargo (WFC - Free Report) closed at $28.21, marking a +0.86% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.83%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 1.43%.
Investors will be hoping for strength from WFC as it approaches its next earnings release. On that day, WFC is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 82.31%. Our most recent consensus estimate is calling for quarterly revenue of $18.34 billion, down 15.02% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $0.77 per share and revenue of $73.57 billion. These results would represent year-over-year changes of -82.42% and -13.51%, respectively.
Any recent changes to analyst estimates for WFC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. The Zacks Consensus EPS estimate has moved 1.74% lower within the past month. WFC is currently a Zacks Rank #3 (Hold).
Investors should also note WFC's current valuation metrics, including its Forward P/E ratio of 36.18. Its industry sports an average Forward P/E of 17.15, so we one might conclude that WFC is trading at a premium comparatively.
We can also see that WFC currently has a PEG ratio of 3.55. 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. WFC's industry had an average PEG ratio of 2.87 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Wells Fargo (WFC - Free Report) closed at $28.21, marking a +0.86% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.83%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 1.43%.
Investors will be hoping for strength from WFC as it approaches its next earnings release. On that day, WFC is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 82.31%. Our most recent consensus estimate is calling for quarterly revenue of $18.34 billion, down 15.02% from the year-ago period.
WFC's full-year Zacks Consensus Estimates are calling for earnings of $0.77 per share and revenue of $73.57 billion. These results would represent year-over-year changes of -82.42% and -13.51%, respectively.
Any recent changes to analyst estimates for WFC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. The Zacks Consensus EPS estimate has moved 1.74% lower within the past month. WFC is currently a Zacks Rank #3 (Hold).
Investors should also note WFC's current valuation metrics, including its Forward P/E ratio of 36.18. Its industry sports an average Forward P/E of 17.15, so we one might conclude that WFC is trading at a premium comparatively.
We can also see that WFC currently has a PEG ratio of 3.55. 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. WFC's industry had an average PEG ratio of 2.87 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.