Time Plus News

Breaking News, Latest News, World News, Headlines and Videos

Wells Fargo (WFC) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Wells Fargo (WFC) closed at $53.37, marking a -1.37% move from the previous day. This move lagged the S&P 500’s daily loss of 0.24%.

This has lagged the Finance sector’s gain of 0.89% and the S&P 500’s gain of 0.73% in that time.

Wells Fargo will be looking to display strength as it nears its next earnings release. In that report, analysts expect Wells Fargo to post earnings of $0.83 per share. This would mark a year-over-year decline of 20.95%.

These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Consensus EPS estimate has moved 1.46% higher within the past month. Wells Fargo is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, Wells Fargo is currently trading at a Forward P/E ratio of 13.69.

The Banks – Major Regional industry currently had an average PEG ratio of 1.7 as of yesterday’s close.

The Banks – Major Regional industry is part of the Finance sector. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Just Released: Zacks Top 10 Stocks for 2022

Don’t miss your chance to get in on these long-term buys

Access Zacks Top 10 Stocks for 2022 today >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Wells Fargo & Company (WFC): Free Stock Analysis Report

To read this article on Zacks.com click here.

%d bloggers like this: