Wells Fargo Likely To Report Surge In Q4 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Wells Fargo & Company (NYSE:WFC) is expected to report an increase in Q4 earnings to $1.20 per share from 61 cents per share a year ago, with revenue estimated at $20.32 billion, up from $19.66 billion. Despite a positive earnings outlook, the stock fell 0.4% to $49.08. Analysts have revised their ratings and price targets ahead of the earnings call, with mixed opinions ranging from downgrades to maintaining and raising price targets.
January 11, 2024 | 3:33 pm
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POSITIVE IMPACT
Wells Fargo is projected to report higher Q4 earnings and revenue. Analysts have mixed views, with some downgrades and others maintaining or raising price targets. The stock recently fell slightly by 0.4%.
The projected increase in earnings and revenue for Wells Fargo suggests a positive short-term impact on the stock. However, the mixed analyst ratings and recent slight stock decline indicate market uncertainty. The positive earnings forecast is likely to outweigh the recent dip and mixed ratings, suggesting a potential uptick in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100