Macquarie downgraded shares of Wells Fargo & Co. (NYSE:WFC) from an outperform rating to a neutral rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
Wells Fargo & Co. (NYSE:WFC) traded up 1.14% during mid-day trading on Tuesday, hitting $40.82. The stock had a trading volume of 6,972,687 shares. Wells Fargo & Co. has a 1-year low of $31.25 and a 1-year high of $44.79. The stock has a 50-day moving average of $41.83 and a 200-day moving average of $40.7. The company has a market cap of $216.7 billion and a price-to-earnings ratio of 10.94.
Wells Fargo & Co. (NYSE:WFC) last issued its earnings results on Friday, October 11th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by $0.97. On average, analysts predict that Wells Fargo & Co. will post $3.84 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WFC. Analysts at Guggenheim cut their price target on shares of Wells Fargo & Co. from $54.00 to $50.00 in a research note to investors on Monday, September 30th. They now have a buy rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Wells Fargo & Co. from $40.00 to $45.00 in a research note to investors on Friday, September 27th. They now have a neutral rating on the stock. Finally, analysts at TheStreet reiterated a buy rating on shares of Wells Fargo & Co. in a research note to investors on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Wells Fargo & Co. presently has a consensus rating of Hold and an average price target of $43.31.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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