Q1 2018 Earnings Forecast for Wells Fargo & Co (WFC) Issued By Jefferies Group

Wells Fargo & Co (NYSE:WFC) – Stock analysts at Jefferies Group decreased their Q1 2018 EPS estimates for Wells Fargo & Co in a research report issued to clients and investors on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will earn $1.02 per share for the quarter, down from their previous forecast of $1.04. Jefferies Group also issued estimates for Wells Fargo & Co’s Q2 2018 earnings at $1.15 EPS, Q3 2018 earnings at $1.26 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $4.70 EPS and FY2019 earnings at $5.35 EPS.

A number of other equities analysts also recently weighed in on WFC. Nomura boosted their price target on shares of Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Instinet reissued a “buy” rating and issued a $65.00 price target (up from $64.00) on shares of Wells Fargo & Co in a report on Saturday, September 30th. Vetr downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 price target on the stock. in a report on Monday, October 2nd. UBS Group set a $57.00 price target on shares of Wells Fargo & Co and gave the stock a “neutral” rating in a report on Friday, October 6th. Finally, Vertical Group started coverage on shares of Wells Fargo & Co in a report on Friday, October 6th. They issued a “sell” rating on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.37.

Wells Fargo & Co (WFC) opened at $63.88 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The firm has a market cap of $305,687.50, a PE ratio of 15.70, a P/E/G ratio of 1.65 and a beta of 0.96. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $64.04.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The firm had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The business’s revenue was up 2.2% compared to the same quarter last year.

In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction dated 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. Over 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 institutional investors have recently made changes to their positions in WFC. Perkins Coie Trust Co lifted its holdings in shares of Wells Fargo & Co by 8.0% in the second quarter. Perkins Coie Trust Co now owns 52,853 shares of the financial services provider’s stock worth $2,928,000 after buying an additional 3,912 shares in the last quarter. Country Club Trust Company n.a. lifted its holdings in shares of Wells Fargo & Co by 0.3% in the second quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock worth $927,000 after buying an additional 47 shares in the last quarter. City Holding Co. lifted its holdings in shares of Wells Fargo & Co by 13.3% in the second quarter. City Holding Co. now owns 55,983 shares of the financial services provider’s stock worth $3,101,000 after buying an additional 6,572 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Wells Fargo & Co by 40.5% in the second quarter. Koshinski Asset Management Inc. now owns 15,128 shares of the financial services provider’s stock worth $838,000 after buying an additional 4,362 shares in the last quarter. Finally, Alta Capital Management LLC lifted its holdings in shares of Wells Fargo & Co by 12.1% in the second quarter. Alta Capital Management LLC now owns 891,618 shares of the financial services provider’s stock worth $49,404,000 after buying an additional 96,466 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/18/q1-2018-earnings-forecast-for-wells-fargo-co-wfc-issued-by-jefferies-group.html.

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.

Earnings History and Estimates for Wells Fargo & Co (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply