Wells Fargo & Co. (NYSE:WFC)‘s stock had its “buy” rating restated by TheStreet in a research note issued on Monday, AnalystRatings.Net reports.
The analysts wrote, “Wells Fargo (WFC) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, expanding profit margins, good cash flow from operations and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Shares of Wells Fargo & Co. (NYSE:WFC) opened at 44.42 on Monday. Wells Fargo & Co. has a 52 week low of $32.12 and a 52 week high of $44.79. The stock’s 50-day moving average is $42.50 and its 200-day moving average is $41.92. The company has a market cap of $234.0 billion and a P/E ratio of 11.67.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.02. The company had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $21.00 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $3.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, December 1st. Investors of record on Friday, November 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, November 6th.
A number of other analysts have also recently weighed in on WFC. Analysts at Guggenheim raised their price target on shares of Wells Fargo & Co. from $50.00 to $54.00 in a research note to investors on Tuesday, November 5th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Tuesday, October 15th. They now have a $44.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Co. from $50.00 to $49.00 in a research note to investors on Monday, October 14th. They now have a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, twenty have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $44.00.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.
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