Wells Fargo & Co. (WFC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Wells Fargo & Co. (NYSE:WFC) announced its earnings results on Friday. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.96 by $0.09, Analyst Ratings Network reports. The company had revenue of $20.60 billion for the quarter, compared to the consensus estimate of $20.59 billion.
A number of analysts have recently weighed in on WFC shares. Analysts at BMO Capital Markets raised their price target on shares of Wells Fargo & Co. from $48.00 to $53.00 in a research note on Tuesday. On a related note, analysts at Goldman Sachs raised their price target on shares of Wells Fargo & Co. from $47.00 to $51.00 in a research note on Monday. Finally, analysts at Atlantic Securities upgraded shares of Wells Fargo & Co. from an “underweight” rating to a “neutral” rating in a research note on Monday, March 24th. They now have a $53.00 price target on the stock, up previously from $48.00. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wells Fargo & Co. has an average rating of “Hold” and a consensus target price of $47.00.
Shares of Wells Fargo & Co. (NYSE:WFC) opened at 47.71 on Friday. Wells Fargo & Co. has a 52-week low of $36.19 and a 52-week high of $50.49. The stock’s 50-day moving average is $47.96 and its 200-day moving average is $44.95. The company has a market cap of $251.0 billion and a P/E ratio of 12.62. Wells Fargo & Co. also was the recipient of some unusual options trading on Thursday. Traders bought 26,512 call options on the stock. This represents an increase of 129% compared to the typical daily volume of 11,601 call options.
Wells Fargo & Company is a bank holding company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, and Brokerage and Retirement.
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