Wells Fargo & Company (NYSE:WFC) Posts Earnings Results, Beats Estimates By $0.18 EPS

Wells Fargo & Company (NYSE:WFC) released its quarterly earnings results on Thursday. The financial services provider reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.18, RTT News reports. The business had revenue of $18.83 billion during the quarter, compared to analyst estimates of $18.31 billion. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS.

NYSE WFC opened at $45.31 on Friday. Wells Fargo & Company has a one year low of $20.76 and a one year high of $51.41. The company has a 50-day simple moving average of $47.10 and a 200-day simple moving average of $45.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.83. The firm has a market capitalization of $186.06 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 6th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 5th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. Wells Fargo & Company’s payout ratio is 145.45%.

A number of equities research analysts recently weighed in on WFC shares. Raymond James raised their price target on shares of Wells Fargo & Company from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Royal Bank of Canada raised their price target on shares of Wells Fargo & Company from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, July 7th. TheStreet lowered shares of Wells Fargo & Company from a “b” rating to a “c+” rating in a report on Friday, July 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 1st. Finally, Keefe, Bruyette & Woods started coverage on shares of Wells Fargo & Company in a report on Wednesday, July 7th. They set an “outperform” rating and a $57.00 price target for the company. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Buy” and a consensus price target of $48.71.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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Earnings History for Wells Fargo & Company (NYSE:WFC)

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