Wall Street analysts expect Wells Fargo & Co (NYSE:WFC) to announce $1.17 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wells Fargo & Co’s earnings. The lowest EPS estimate is $1.11 and the highest is $1.24. Wells Fargo & Co reported earnings of $1.08 per share in the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The firm is scheduled to report its next quarterly earnings report before the market opens on Tuesday, July 16th.

On average, analysts expect that Wells Fargo & Co will report full-year earnings of $4.66 per share for the current year, with EPS estimates ranging from $4.45 to $5.00. For the next fiscal year, analysts forecast that the business will post earnings of $4.94 per share, with EPS estimates ranging from $4.27 to $5.80. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Wells Fargo & Co.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. The firm had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share.

WFC has been the topic of several research analyst reports. Morgan Stanley lowered their target price on shares of Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. Buckingham Research cut shares of Carnival from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $65.00 to $54.00 in a research report on Monday, April 15th. Zacks Investment Research cut shares of Green Plains from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 27th. BMO Capital Markets boosted their price target on shares of Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and an average price target of $54.12.

Shares of WFC stock traded up $0.09 during mid-day trading on Thursday, hitting $47.24. The company had a trading volume of 352,503 shares, compared to its average volume of 20,642,020. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $59.53. The company has a 50 day simple moving average of $46.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $213.66 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.92 and a beta of 1.08.

Wells Fargo & Co declared that its board has authorized a share buyback plan on Thursday, June 27th that permits the company to buyback $23.10 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 11.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the transaction, the insider now owns 3,066 shares in the company, valued at $142,599.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Country Trust Bank grew its holdings in shares of Wells Fargo & Co by 100.3% in the second quarter. Country Trust Bank now owns 1,269,083 shares of the financial services provider’s stock worth $60,686,000 after purchasing an additional 635,532 shares during the last quarter. Lourd Capital LLC grew its holdings in shares of Wells Fargo & Co by 428.4% in the second quarter. Lourd Capital LLC now owns 178,340 shares of the financial services provider’s stock worth $8,439,000 after purchasing an additional 144,588 shares during the last quarter. PFS Investments Inc. grew its holdings in shares of Wells Fargo & Co by 122.9% in the second quarter. PFS Investments Inc. now owns 45,470 shares of the financial services provider’s stock worth $2,172,000 after purchasing an additional 25,068 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. bought a new position in shares of Wells Fargo & Co in the second quarter worth about $201,000. Finally, Leisure Capital Management grew its holdings in shares of Wells Fargo & Co by 4.4% in the second quarter. Leisure Capital Management now owns 14,385 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 75.35% of the company’s stock.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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