Wells Fargo & Co. Receives “Buy” Rating from TheStreet (WFC)
Wells Fargo & Co. (NYSE:WFC)‘s stock had its “buy” rating reiterated by stock analysts at TheStreet in a report issued on Sunday, American Banking & Market News 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, growth in earnings per share, expanding profit margins, good cash flow from operations and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Shares of Wells Fargo & Co. (NYSE:WFC) opened at 45.34 on Friday. Wells Fargo & Co. has a 52 week low of $34.43 and a 52 week high of $45.64. The stock has a 50-day moving average of $44.34 and a 200-day moving average of $42.82. The company has a market cap of $238.8 billion and a P/E ratio of 11.85.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.02. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $21.00 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $3.87 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on WFC. Analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Thursday, November 28th. They now have a $46.00 price target on the stock. Separately, analysts at Guggenheim raised their price target on shares of Wells Fargo & Co. from $50.00 to $54.00 in a research note to investors on Tuesday, November 5th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eighteen 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 has an average rating of “Hold” and a consensus target price of $44.24.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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