Zacks: Brokerages Expect Wells Fargo & Company (NYSE:WFC) Will Post Earnings of $0.93 Per Share

Wall Street analysts expect Wells Fargo & Company (NYSE:WFC) to report earnings of $0.93 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Wells Fargo & Company’s earnings. The highest EPS estimate is $1.03 and the lowest is $0.79. Wells Fargo & Company posted earnings of $1.38 per share in the same quarter last year, which would suggest a negative year over year growth rate of 32.6%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Wells Fargo & Company will report full-year earnings of $4.14 per share for the current year, with EPS estimates ranging from $3.90 to $4.45. For the next fiscal year, analysts forecast that the company will report earnings of $5.11 per share, with EPS estimates ranging from $4.51 to $5.77. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Wells Fargo & Company.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $57.00 to $58.50 in a research report on Thursday, February 3rd. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $54.00 to $56.00 in a research note on Thursday, April 14th. StockNews.com began coverage on Wells Fargo & Company in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Argus upped their price target on Wells Fargo & Company from $55.00 to $65.00 in a research note on Tuesday, January 18th. Finally, Citigroup upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $58.00 to $56.00 in a research note on Monday, April 11th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Buy” and a consensus price target of $58.78.

In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the sale, the executive vice president now directly owns 21,478 shares in the company, valued at $954,482.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of WFC. Geode Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 66,036,650 shares of the financial services provider’s stock valued at $3,056,547,000 after purchasing an additional 1,916,314 shares during the last quarter. Invesco Ltd. lifted its stake in Wells Fargo & Company by 7.1% in the third quarter. Invesco Ltd. now owns 41,077,680 shares of the financial services provider’s stock valued at $1,906,415,000 after buying an additional 2,710,324 shares during the last quarter. Norges Bank purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $1,566,470,000. Capital World Investors lifted its stake in Wells Fargo & Company by 37.4% in the fourth quarter. Capital World Investors now owns 30,966,799 shares of the financial services provider’s stock valued at $1,485,787,000 after buying an additional 8,421,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Wells Fargo & Company by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,758,512 shares of the financial services provider’s stock valued at $852,047,000 after buying an additional 321,934 shares during the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.

Wells Fargo & Company stock traded down $0.21 during mid-day trading on Friday, hitting $44.55. The company’s stock had a trading volume of 27,035,308 shares, compared to its average volume of 24,843,404. The firm has a market capitalization of $168.86 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.06 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $41.47 and a 1 year high of $60.30. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. The stock’s fifty day moving average is $48.44 and its two-hundred day moving average is $50.90.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is presently 20.79%.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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