Zacks: Analysts Expect Wells Fargo & Company (WFC) Will Announce Quarterly Sales of $22.14 Billion
Equities research analysts expect Wells Fargo & Company (NYSE:WFC) to post sales of $22.14 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wells Fargo &’s earnings, with the lowest sales estimate coming in at $21.67 billion and the highest estimate coming in at $22.62 billion. Wells Fargo & reported sales of $21.58 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The business is scheduled to report its next earnings report on Friday, January 12th.
According to Zacks, analysts expect that Wells Fargo & will report full-year sales of $22.14 billion for the current financial year, with estimates ranging from $87.77 billion to $89.70 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $90.14 billion per share, with estimates ranging from $88.21 billion to $93.39 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Wells Fargo &.
Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share.
WFC has been the subject of a number of research reports. Robert W. Baird reiterated a “buy” rating and set a $58.00 target price on shares of Wells Fargo & in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods set a $61.00 target price on Wells Fargo & and gave the company a “buy” rating in a research report on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Wells Fargo & in a research report on Friday, July 28th. Nomura increased their target price on Wells Fargo & from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, September 28th. Finally, Instinet reiterated a “buy” rating and set a $65.00 target price (up from $64.00) on shares of Wells Fargo & in a research report on Saturday, September 30th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Wells Fargo & currently has a consensus rating of “Hold” and a consensus price target of $57.20.
Wells Fargo & (WFC) opened at $53.81 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $264,974.50, a P/E ratio of 13.00, a PEG ratio of 1.29 and a beta of 0.97. Wells Fargo & has a 52-week low of $49.27 and a 52-week high of $59.99.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a $0.39 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.90%. Wells Fargo &’s dividend payout ratio (DPR) is presently 40.31%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Boston Partners grew its stake in Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares during the last quarter. Rockland Trust Co. grew its stake in Wells Fargo & by 0.6% in the second quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after purchasing an additional 1,856 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares during the last quarter. Kelman Lazarov Inc. grew its stake in Wells Fargo & by 6.0% in the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Wells Fargo & by 4.7% in the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after purchasing an additional 4,647 shares during the last quarter. Institutional investors own 75.04% of the company’s stock.
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About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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