Wall Street analysts expect Wells Fargo & Co (NYSE:WFC) to report $22.43 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Wells Fargo & Co’s earnings. The highest sales estimate is $22.80 billion and the lowest is $22.16 billion. Wells Fargo & Co reported sales of $21.58 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The firm is scheduled to report its next earnings report before the market opens on Friday, January 12th.
According to Zacks, analysts expect that Wells Fargo & Co will report full-year sales of $22.43 billion for the current fiscal year, with estimates ranging from $88.33 billion to $89.62 billion. For the next financial year, analysts anticipate that the business will report sales of $89.92 billion per share, with estimates ranging from $87.21 billion to $93.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Wells Fargo & Co.
Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year.
Shares of Wells Fargo & Co (NYSE WFC) opened at $62.75 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The stock has a market cap of $309,220.00, a P/E ratio of 16.21, a PEG ratio of 1.71 and a beta of 0.96. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $63.05.
In other news, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WFC. Boston Partners raised its position in shares of Wells Fargo & Co by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares during the period. Capital World Investors raised its position in shares of Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares during the period. Capital Research Global Investors raised its position in shares of Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Wells Fargo & Co by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after acquiring an additional 6,291,906 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Wells Fargo & Co by 396.3% in the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after acquiring an additional 4,707,207 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.
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Wells Fargo & Co Company Profile
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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