Quite a few research analysts have already expected that the stocks of WFC would be posting a sales sum of $17.71 billion for the quarter. According to a report, five of the investment analysts have already issued estimates into the earnings of the company, with the highest coming in at $18.46 billion, and the lowest coming in at $17.26 billion. The sales reported by the company the previous year were $17.84 billion, which indicates a negative growth rate of 0.7%. The company will be posting its next quarterly report on the 13th of July.
The Quarterly Estimates Of WFC
WFC previously announced its quarterly report on the 13th of April. The provider of financial services had reported an EPS of $1.05 for the quarter, which was more than the consensus estimate of $0.69. The revenue generated by the company during the period was $18.06 billion, which was more than the quarterly estimate of $17.42 billion. The net margin of the company was 3.72%, with a 3.18% return on equity.
There have been quite a few research equities that have commented on the stocks of WFC. Deutsche Bank has already increased the price target of the company from $45 to $48 with a rating of buy in a 26th April research report. Morgan Stanley has already increased the price target of the company from $47 to $49 with a rating of overweight in a 21st April research report.
Zacks Investment has also increased the rating of the company from hold to strong-buy with a target price of $49 in a 16th April research report. UBS Group has also reiterated their previous rating of buy with a price target of $40 in a 14th April research report.
Nine of the investment analysts have already given the company a rating of hold, while fourteen others have provided the company with a rating of buy. One of the investment analysts gave the company a rating of strong buy. Currently, WFC has a buy rating with a $40.83 price target.