Q1 2018 EPS Estimates for Wells Fargo & Co Reduced by Jefferies Group (WFC)

Wells Fargo & Co (NYSE:WFC) – Equities research analysts at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for Wells Fargo & Co in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $1.02 for the quarter, down from their previous forecast of $1.04. Jefferies Group also issued estimates for Wells Fargo & Co’s Q2 2018 earnings at $1.15 EPS, Q3 2018 earnings at $1.26 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $4.70 EPS and FY2019 earnings at $5.35 EPS.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. During the same quarter last year, the business earned $0.96 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year.

A number of other equities research analysts have also commented on WFC. Royal Bank of Canada raised their price objective on Wells Fargo & Co to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday. Vetr lowered Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 price objective for the company. in a research report on Monday, October 2nd. Atlantic Securities upgraded Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price objective for the company in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday. Finally, Instinet restated a “buy” rating and set a $65.00 price objective (up from $64.00) on shares of Wells Fargo & Co in a research report on Saturday, September 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.71.

Shares of Wells Fargo & Co (NYSE WFC) opened at $64.22 on Thursday. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $64.31. The company has a market capitalization of $312,779.47, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.68 and a beta of 0.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90.

In other news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in WFC. Rockland Trust Co. raised its stake in shares of Wells Fargo & Co by 0.6% in the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after acquiring an additional 1,856 shares in the last quarter. Heartland Advisors Inc. raised its stake in shares of Wells Fargo & Co by 3.9% in the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after acquiring an additional 10,318 shares in the last quarter. Eagle Global Advisors LLC raised its stake in shares of Wells Fargo & Co by 1.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 2,172 shares in the last quarter. New Jersey Better Educational Savings Trust raised its stake in shares of Wells Fargo & Co by 10.0% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 33,000 shares of the financial services provider’s stock valued at $1,829,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Personal Capital Advisors Corp raised its stake in shares of Wells Fargo & Co by 5.0% in the 3rd quarter. Personal Capital Advisors Corp now owns 554,429 shares of the financial services provider’s stock valued at $30,577,000 after acquiring an additional 26,614 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Q1 2018 EPS Estimates for Wells Fargo & Co Reduced by Jefferies Group (WFC)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/01/20/q1-2018-eps-estimates-for-wells-fargo-co-reduced-by-jefferies-group-wfc.html.

Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply