Equities research analysts expect Wells Fargo & Co (NYSE:WFC) to announce $20.89 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Wells Fargo & Co’s earnings, with estimates ranging from $20.57 billion to $21.30 billion. Wells Fargo & Co reported sales of $21.93 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.7%. The firm is scheduled to announce 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 sales of $84.86 billion for the current financial year, with estimates ranging from $83.57 billion to $85.74 billion. For the next fiscal year, analysts forecast that the business will post sales of $85.91 billion, with estimates ranging from $84.53 billion to $87.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Wells Fargo & Co.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.21 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $21.80 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year.
Several institutional investors and hedge funds have recently made changes to their positions in WFC. Capital International Investors boosted its holdings in shares of 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 buying an additional 65,517,025 shares during the period. Norges Bank acquired a new position in shares of Wells Fargo & Co in the fourth quarter worth about $2,004,580,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Wells Fargo & Co by 4,415.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock worth $473,000 after buying an additional 21,307,608 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of 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 worth $162,264,000 after buying an additional 2,864,065 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in shares of Wells Fargo & Co by 75.7% in the fourth quarter. Standard Life Aberdeen plc now owns 6,606,543 shares of the financial services provider’s stock worth $300,795,000 after buying an additional 2,847,214 shares during the period. 72.22% of the stock is currently owned by institutional investors.
Shares of Wells Fargo & Co stock traded down $1.25 during trading hours on Friday, reaching $46.49. The company’s stock had a trading volume of 67,381,890 shares, compared to its average volume of 26,345,126. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.88. Wells Fargo & Co has a one year low of $43.02 and a one year high of $59.53. The company has a market cap of $233.11 billion, a P/E ratio of 10.61, a PEG ratio of 0.87 and a beta of 1.11.
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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