Wells Fargo & Co (NYSE: WFC) has reported earnings for its third fiscal quarter (ending September 30) of $1.43 versus $1.49 for the same period a year ago — a decline of -4%. However, this result exceeded the consensus estimate of $1.28 by $0.15. For the latest four quarters through September 30, E.P.S. were $4.86 compared to $4.75 a year ago — an increase of 2%.
Recent Price Action
Wells Fargo & Co (NYSE: WFC) stock enjoyed a very large increase of 5.6% on 10/11/24. The shares closed at $60.99. Moreover, trading volume in this advance was exceptionally high at 214% of normal. The stock has performed in line with the market over the last nine months and has risen 10.9% during the last week.
Current PriceTarget Research Rating
WFC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Wells Fargo has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. Wells Fargo has a slightly positive Power Rating of 61 and a very high Appreciation Score of 94, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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