Zacks: Analysts Expect Wells Fargo & Company (NYSE:WFC) Will Announce Earnings of $1.03 Per Share

Brokerages expect Wells Fargo & Company (NYSE:WFC) to report earnings of $1.03 per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Wells Fargo & Company’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $1.32. Wells Fargo & Company posted earnings per share of $0.56 during the same quarter last year, which would indicate a positive year over year growth rate of 83.9%. The company is scheduled to report its next earnings report on Wednesday, October 13th.

On average, analysts expect that Wells Fargo & Company will report full-year earnings of $4.37 per share for the current financial year, with EPS estimates ranging from $4.05 to $5.25. For the next fiscal year, analysts expect that the company will report earnings of $3.65 per share, with EPS estimates ranging from $3.40 to $4.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Wells Fargo & Company.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.40. The business had revenue of $20.27 billion during the quarter, compared to analyst estimates of $17.69 billion. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.66) earnings per share.

A number of research firms have recently weighed in on WFC. Evercore ISI reissued a “buy” rating and issued a $49.00 price objective on shares of Wells Fargo & Company in a research report on Friday, September 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 1st. TheStreet downgraded shares of Wells Fargo & Company from a “b” rating to a “c+” rating in a report on Friday, July 30th. Royal Bank of Canada boosted their target price on shares of Wells Fargo & Company from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, July 7th. Finally, UBS Group restated a “neutral” rating and issued a $47.00 target price (up from $40.00) on shares of Wells Fargo & Company in a report on Tuesday, May 25th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $47.52.

Shares of NYSE:WFC traded up $0.20 during trading on Friday, reaching $46.25. The stock had a trading volume of 352,211 shares, compared to its average volume of 30,603,697. The business has a fifty day moving average price of $46.23 and a 200-day moving average price of $44.24. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. The stock has a market cap of $189.92 billion, a P/E ratio of 13.19, a PEG ratio of 0.99 and a beta of 1.36. Wells Fargo & Company has a fifty-two week low of $20.76 and a fifty-two week high of $51.41.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 6th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 5th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a dividend yield of 1.73%. Wells Fargo & Company’s dividend payout ratio is 145.45%.

Several hedge funds have recently made changes to their positions in the company. Sunflower Bank N.A. purchased a new position in shares of Wells Fargo & Company in the second quarter valued at $820,000. Parametric Portfolio Associates LLC boosted its stake in shares of Wells Fargo & Company by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 10,441,275 shares of the financial services provider’s stock valued at $472,885,000 after purchasing an additional 854,970 shares during the period. Sawtooth Solutions LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at $319,000. MARSHALL WACE ASIA Ltd raised its holdings in Wells Fargo & Company by 0.5% in the second quarter. MARSHALL WACE ASIA Ltd now owns 2,612,022 shares of the financial services provider’s stock valued at $118,299,000 after acquiring an additional 13,026 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Wells Fargo & Company by 38.6% in the second quarter. Marshall Wace LLP now owns 924,936 shares of the financial services provider’s stock valued at $41,890,000 after acquiring an additional 257,574 shares in the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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

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