Wells Fargo & Company (NYSE:WFC) banking service provider, is expected to report second quarter earnings results, before market open, on Tuesday 14th July 2020.
Analysts polled by Thomson Reuters anticipate second quarter loss of $ 0.2 per share from revenue of $ 18402.80 million.
Looking ahead, the full year income are expected at $ 0.64 per share on the revenues of $ 72949.10 million.
Previous Quarter Performance
Wells Fargo & Company disclosed income for the first quarter of $ 0.01 per share, from the total revenue of $ 17,717.00 million. The quarterly earnings contracted 99.17 percent while revenues contracted 18.01 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.33 per share from $ 19345.60 million in revenue. The bottom line results missed street analysts by $ 0.32 or 96.97 percent, at the same time, top line results fell short of analysts by $ 1 million or 8.42 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of WFC was $ 25.41, representing a 15.50 % increase from the 52 week low of $ 22.00 and a 53.59 % decrease over the 52 week high of $ 54.75.
The company has a market capital of $ 104.18 billion and is part of the Financial Services sector and Banks – Global industry.
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Recent Analyst recommendations
On 11th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 27.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.51 per share on April 28, 2020. The dividend were payable on June 1, 2020 to holders of record as of the close of business on May 8, 2020 and ex-dividend date on May 7, 2020.
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
