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 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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