$1.09 Earnings Per Share Expected for Wells Fargo & Co (WFC) This Quarter

Equities analysts predict that Wells Fargo & Co (NYSE:WFC) will post $1.09 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Wells Fargo & Co’s earnings. The highest EPS estimate is $1.14 and the lowest is $1.01. Wells Fargo & Co posted earnings of $1.12 per share in the same quarter last year, which indicates a negative year over year growth rate of 2.7%. The business is scheduled to report its next quarterly earnings results before the market opens on Friday, April 12th.

According to Zacks, analysts expect that Wells Fargo & Co will report full-year earnings of $4.94 per share for the current fiscal year, with EPS estimates ranging from $4.71 to $5.25. For the next year, analysts forecast that the firm will report earnings of $5.61 per share, with EPS estimates ranging from $5.31 to $6.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The firm had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.80 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year.

Several equities research analysts have recently commented on WFC shares. Robert W. Baird reaffirmed a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Keefe, Bruyette & Woods lowered shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $58.00 to $50.00 in a report on Sunday. Zacks Investment Research lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Deutsche Bank lowered shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and cut their price objective for the company from $56.00 to $54.00 in a report on Friday, March 29th. Finally, Wolfe Research lowered shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. Wells Fargo & Co has an average rating of “Hold” and a consensus target price of $59.67.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital International Investors increased its stake in Wells Fargo & Co by 270.1% in the third quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock worth $4,718,587,000 after purchasing an additional 65,517,025 shares during the period. Norges Bank purchased a new position in shares of Wells Fargo & Co during the fourth quarter valued at $2,004,580,000. Oregon Public Employees Retirement Fund increased its stake in shares of Wells Fargo & Co by 4,415.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock valued at $473,000 after buying an additional 21,307,608 shares during the period. Primecap Management Co. CA grew its stake in Wells Fargo & Co by 47.1% in the third quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after purchasing an additional 12,337,098 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Wells Fargo & Co by 1,283.4% in the third quarter. OppenheimerFunds Inc. now owns 3,087,235 shares of the financial services provider’s stock valued at $162,264,000 after purchasing an additional 2,864,065 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.

Shares of NYSE WFC traded up $0.66 during midday trading on Wednesday, hitting $48.87. 1,431,412 shares of the company’s stock traded hands, compared to its average volume of 23,485,172. Wells Fargo & Co has a 1 year low of $43.02 and a 1 year high of $59.53. The firm has a market capitalization of $238.08 billion, a P/E ratio of 11.15, a PEG ratio of 0.88 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.32.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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