Wells Fargo & Co (NYSE:WFC) Expected to Announce Earnings of $0.37 Per Share

Brokerages expect that Wells Fargo & Co (NYSE:WFC) will announce earnings of $0.37 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Wells Fargo & Co’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.25. Wells Fargo & Co reported earnings per share of $0.92 in the same quarter last year, which suggests a negative year-over-year growth rate of 59.8%. The firm is expected to announce its next quarterly earnings results on Tuesday, October 20th.

According to Zacks, analysts expect that Wells Fargo & Co will report full-year earnings of $0.07 per share for the current year, with EPS estimates ranging from ($0.42) to $0.55. For the next year, analysts anticipate that the firm will report earnings of $1.96 per share, with EPS estimates ranging from $0.95 to $2.73. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.50). The business had revenue of $17.80 billion for the quarter, compared to analyst estimates of $18.30 billion. Wells Fargo & Co had a return on equity of 4.33% and a net margin of 6.26%. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share.

Several research firms have recently commented on WFC. Oppenheimer restated a “hold” rating on shares of Wells Fargo & Co in a research report on Tuesday, July 14th. Morgan Stanley decreased their target price on shares of Wells Fargo & Co from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Seaport Global Securities began coverage on shares of Wells Fargo & Co in a research report on Wednesday, July 8th. They issued a “neutral” rating for the company. DA Davidson initiated coverage on shares of Wells Fargo & Co in a research report on Thursday, May 28th. They issued a “neutral” rating and a $27.00 target price for the company. Finally, Credit Suisse Group reduced their price objective on shares of Wells Fargo & Co from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have assigned a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and a consensus price target of $33.31.

Shares of Wells Fargo & Co stock traded down $0.39 during trading on Friday, hitting $24.26. 45,570,805 shares of the stock were exchanged, compared to its average volume of 45,648,844. The stock’s fifty day moving average is $26.02 and its 200 day moving average is $32.85. The stock has a market cap of $101.06 billion, a PE ratio of 20.54, a P/E/G ratio of 36.76 and a beta of 1.15. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a 12 month low of $22.00 and a 12 month high of $54.75.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.10 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.65%. Wells Fargo & Co’s payout ratio is 46.58%.

Institutional investors have recently made changes to their positions in the company. Your Advocates Ltd. LLP bought a new position in Wells Fargo & Co in the first quarter worth $26,000. HHM Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Co during the 1st quarter worth approximately $27,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Wells Fargo & Co during the 4th quarter worth approximately $35,000. Wealth Quarterback LLC acquired a new position in shares of Wells Fargo & Co during the 4th quarter worth approximately $35,000. Finally, Procyon Private Wealth Partners LLC acquired a new position in shares of Wells Fargo & Co during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 72.93% of the company’s stock.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Earnings History and Estimates for Wells Fargo & Co (NYSE:WFC)

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