Wells Fargo (WFC) Stock Moves -0.26%: What You Should Know
Wells Fargo (WFC) closed the most recent trading day at $45.77, moving -0.26% from the previous trading session. This change was narrower than the S&P 500's 0.63% loss on the day. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.15%.
Coming into today, shares of the biggest U.S. mortgage lender had gained 5.08% in the past month. In that same time, the Finance sector gained 2.05%, while the S&P 500 gained 0.89%.
Wells Fargo will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.93, down 32.61% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.89 billion, down 11.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.14 per share and revenue of $73.39 billion, which would represent changes of -16.36% and -5.94%, respectively, from the prior year.
Any recent changes to analyst estimates for Wells Fargo should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.46% higher. Wells Fargo currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Wells Fargo currently has a Forward P/E ratio of 11.09. This valuation marks a discount compared to its industry's average Forward P/E of 11.1.
Also, we should mention that WFC has a PEG ratio of 1.09. 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 industry currently had an average PEG ratio of 1.59 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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