Market Overview

Earnings Preview for Wells Fargo

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Wells Fargo (NYSE: WFC) announces its next round of earnings this Wednesday, October 14. Here is Benzinga's look at Wells Fargo's Q3 earnings report.

Earnings and Revenue

Analysts expect Wells Fargo earnings of $0.45 per share. Revenue will likely be around $17.97 billion, according to the consensus estimate. Wells Fargo EPS in the same period a year ago totaled $1.07. Sales were $22.01 billion. The Wall Street consensus estimate for earnings would represent a 57.94% decrease for the company. Revenue would be down 18.36% from the year-ago period. Here is how the company's reported EPS has stacked up against analyst estimates in the past:

Quarter Q2 2020 Q1 2020 Q4 2020 Q3 2019
EPS Estimate -0.20 0.36 1.12 1.14
EPS Actual -0.66 0.80 0.93 1.07
Revenue Estimate 18.40 B 19.35 B 20.12 B 21.19 B
Revenue Actual 17.84 B 17.72 B 19.86 B 22.01 B

Stock Performance

Shares of Wells Fargo were trading at $25.67 as of October 12. Over the last 52-week period, shares are down 48.84%. Given that these returns are generally negative, long-term shareholders are probably unhappy going into this earnings release.

Do not be surprised to see the stock move on comments made during its conference call. Wells Fargo is scheduled to hold the call at 10:00:00 ET and can be accessed here: https://engage.vevent.com/index.jsp?eid=3946&seid=523

 

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Posted-In: Earnings