Company Update (NYSE:WFC): Wells Fargo 2016 Investor Day

[Business Wire] – Wells Fargo & Company will hold an Investor Day on May 24, 2016. Presentations will be given by Chairman and CEO John Stumpf and Wells Fargo’s management team. Attendance in person is by invitation only to analysts and institutional investors. Read more on this. Wells Fargo & Company (WFC) , valued at $252.86B, began trading this morning at $49.86. Looking at today’s market, WFC one day range is $49.54 to $50.13 with its 52-week range being $44.50 to $58.77. WFC shares are currently priced at 12.31x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.51x forward p/e ratio. And for income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 3.04%. In a review of the consensus earnings estimate this quarter, 28 sell-side analysts are looking at $1.02 per share, which would be $0.01 worse than the year-ago quarter and a $0.04 sequential decrease. Investors should also note that the full-year EPS estimate of $4.11 is a $0.04 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $22.27 Billion. If realized, that would be a 4.46% increase over the year-ago quarter. In terms of ratings, Piper Jaffray downgraded WFC from Neutral to Underweight (Apr 15, 2016). Previously, Sandler O’Neill downgraded WFC from Buy to Hold. When considering if perhaps the stock is under or overvalued, the average price target is $54.97, which is 10.25% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Second Quarter 2016 Earnings Information Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo First Quarter 2016 Earnings Information Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commits $5 Million to Boost Maricopa Homeownership