The Wells Fargo & Co. (WFC) Expected to Earn Q1 2017 Earnings of $0.96 Per Share

The Wells Fargo & Co. (WFC) Expected to Earn Q1 2017 Earnings of $0.96 Per Share

Wells Fargo & Co. (NYSE:WFC) – Analysts at Jefferies Group decreased their Q1 2017 earnings estimates for shares of Wells Fargo & Co. in a research note issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the firm will post earnings of $0.96 per share for the quarter, down from their previous forecast of $0.99. Jefferies Group currently has a “Hold” rating and a $58.00 price target on the stock. Jefferies Group also issued estimates for Wells Fargo & Co.’s Q3 2017 earnings at $1.11 EPS, Q4 2017 earnings at $1.10 EPS and FY2018 earnings at $4.60 EPS.

A number of other brokerages have also weighed in on WFC. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & Co. in a research note on Friday, December 23rd. Vetr lowered Wells Fargo & Co. from a “sell” rating to a “strong sell” rating and set a $48.64 price objective on the stock. in a research note on Monday, December 26th. Guggenheim lowered Wells Fargo & Co. from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. Rafferty Capital Markets upgraded Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research note on Tuesday, December 6th. Finally, Zacks Investment Research upgraded Wells Fargo & Co. from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Thursday, December 29th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Wells Fargo & Co. has a consensus rating of “Hold” and a consensus price target of $51.64.

Wells Fargo & Co. (NYSE:WFC) opened at 54.58 on Wednesday. The firm has a market cap of $273.78 billion, a price-to-earnings ratio of 13.68 and a beta of 0.99. The firm has a 50-day moving average price of $55.24 and a 200-day moving average price of $49.54. Wells Fargo & Co. has a 1-year low of $43.55 and a 1-year high of $58.02.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The business earned $21.60 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.60% and a net margin of 23.30%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share.

Institutional investors have recently made changes to their positions in the company. CIBC World Markets Inc. increased its position in Wells Fargo & Co. by 13.6% in the second quarter. CIBC World Markets Inc. now owns 784,944 shares of the financial services provider’s stock valued at $37,151,000 after buying an additional 93,961 shares during the last quarter. World Asset Management Inc increased its position in Wells Fargo & Co. by 0.3% in the third quarter. World Asset Management Inc now owns 464,895 shares of the financial services provider’s stock valued at $20,586,000 after buying an additional 1,270 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Wells Fargo & Co. during the second quarter valued at approximately $29,454,000. Culbertson A N & Co. Inc. increased its position in Wells Fargo & Co. by 1.7% in the third quarter. Culbertson A N & Co. Inc. now owns 122,556 shares of the financial services provider’s stock valued at $5,427,000 after buying an additional 2,052 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Wells Fargo & Co. by 97.7% in the third quarter. Acadian Asset Management LLC now owns 2,511,003 shares of the financial services provider’s stock valued at $111,188,000 after buying an additional 1,240,585 shares during the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

Related posts

Leave a Comment