Wells Fargo & Company (WFC) to Release Earnings on Friday

Wells Fargo & Company (NYSE:WFC) will be posting its quarterly earnings results before the market opens on Friday, October 11th. Analysts expect Wells Fargo & Company to post earnings of $1.27 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. 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 $57.28 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $199.70 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The stock’s 50-day moving average is $55.31 and its two-hundred day moving average is $57.75. 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 declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.79%. The ex-dividend date was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 32.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WFC shares. Evercore ISI increased their price objective on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods dropped their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.65.

About Wells Fargo & Company

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.