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Wells Fargo & Co (WFC) Leaves Estimates in the Dust

Wells FARGO & Co (WFC)

Wells Fargo & Co right before the market opened on Wednesday, October 14, showed off its earnings numbers for the three months through September. Earnings for the quarter came in at $1.05 per share. The firm showed sales totaling $21.9B for the three months.

In the run up to the release of today’s results, analysts following the firm were looking for earnings per share of $1.05 from Wells Fargo & Co for the quarter. Sales for the period were forecast to come in at $21.76B by consensus.

Wells FARGO & Co

Wells Fargo & Co results by comparison

The same three months of 2014 saw Wells Fargo & Co earn $1.02 per share on sales that came to $21.21B. In the last twelve months, shares in the firm have gained 2.69 percent of their value. In the three months leading into the release of these results the firm lost 9.01 percent

Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending

Analysts look at Wells Fargo & Co

Wells Fargo & Co is expected to make a profit of $4.16 earnings per share for the twelve months of its current fiscal year. Full sales for the year are forecast to come in at $86.52B.

In the last full fiscal year Wells Fargo & Co made $4.10 earnings per share. Sales came in at $84.35B.

Of the 32 analyst covering the firm for Wall Street, 6 analysts said that clients should Buy shares in the firm, 12 analysts rated the shares at Overweight, while 11 analysts said that holding the shares was the best option going forward.

3 analysts said that clients should keep the shares Underweight in their portfolios, while none said that their best idea was to Sell the shares ahead of the release of this earnings report.

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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