Morgan Stanley Cuts Wells Fargo & Co. EPS Estimates (WFC)
Equities researchers at Morgan Stanley (NYSE: MS) cut their earnings per share (EPS) estimates on shares of Wells Fargo & Co. (NYSE: WFC) in a report issued on Wednesday. The firm currently has an “overweight” rating and a $40.00 target price on the company’s shares.
Shares of Wells Fargo & Co. traded down 1.10% during mid-day trading on Wednesday, hitting $31.39. Wells Fargo & Co. has a 52 week low of $22.58 and a 52 week high of $34.59. The company has a market cap of $166.8 billion and a P/E ratio of 10.94.
Wells Fargo & Co. last announced its earnings results on Friday, April 13rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co. will post $0.84 earnings per share next quarter.
WFC has been the subject of a number of other recent research reports. Analysts at Compass Point raised their price target on shares of Wells Fargo & Co. from $37.00 to $39.00 in a research note to investors on Tuesday, April 17th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Wells Fargo & Co. in a research note to investors on Monday, April 16th. They now have a $34.00 price target on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Wells Fargo & Co. from $39.00 to $42.00 in a research note to investors on Monday, April 16th. They now have an “overweight” rating on the stock.
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company.