Yahoo Finance Wells Fargo (WFC) Stock Moves -0.45%: What You Should Know
Wells Fargo (WFC) closed the most recent trading day at $43.94, moving -0.45% from the previous trading session. This change was narrower than the S&P 500's 0.72% loss on the day. At the same time, the Dow lost 0.45%, and the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the biggest U.S. mortgage lender had lost 4.33% over the past month, outpacing the Finance sector's loss of 7.06% and the S&P 500's loss of 9.06% in that time.
Wall Street will be looking for positivity from Wells Fargo as it approaches its next earnings report date. On that day, Wells Fargo is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 5.13%. Meanwhile, our latest consensus estimate is calling for revenue of $18.72 billion, down 0.62% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4 per share and revenue of $72.93 billion. These totals would mark changes of -19.19% and -6.53%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Wells Fargo. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Wells Fargo is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Wells Fargo is holding a Forward P/E ratio of 11.04. This represents a premium compared to its industry's average Forward P/E of 10.31.
Meanwhile, WFC's PEG ratio is currently 1.08. 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. The Banks - Major Regional industry currently had an average PEG ratio of 1.27 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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