Wells Fargo & Company (WFC) Scheduled to Post Earnings on Friday

by · The Markets Daily

Wells Fargo & Company (NYSE:WFC – Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, October 11th. Analysts expect the company to announce earnings of $1.27 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same period last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts expect Wells Fargo & Company to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $57.53 on Thursday. The firm has a market capitalization of $200.57 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.32 and a beta of 1.16. The firm’s 50-day moving average price is $55.25 and its 200-day moving average price is $57.76. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $62.55.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. BMO Capital Markets upped their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.65.

Read Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Company Profile

(Get Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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