Wells Fargo & Co. Given “Buy” Rating at TheStreet (WFC)
Wells Fargo & Co. (NYSE:WFC)‘s stock had its “buy” rating reiterated by research analysts at TheStreet in a report released on Friday, Analyst Ratings Network reports.
The analysts wrote, “Wells Fargo (WFC) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”
WFC has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Friday, September 20th. They set a “hold” rating on the stock. Separately, analysts at Societe Generale initiated coverage on shares of Wells Fargo & Co. (NYSE:WFC) in a research note to investors on Thursday, September 19th. They set a “hold” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.04.
Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.22% on Friday, hitting $41.70. The stock had a trading volume of 6,742,673 shares. Wells Fargo & Co. has a 52 week low of $31.25 and a 52 week high of $44.79. The stock has a 50-day moving average of $42.31 and a 200-day moving average of $40.45. The company has a market cap of $221.4 billion and a P/E ratio of 11.28. Wells Fargo & Co. also saw unusually large options trading on Tuesday. Stock traders bought 42,157 call options on the company. This is an increase of approximately 300% compared to the average volume of 10,529 call options.
Wells Fargo & Co. (NYSE:WFC) last released its earnings data on Friday, July 12th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.05. The company had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.21 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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