Wells Fargo & Company Quarterly Earnings on Deck

S&P 500 (NYSE:SPY) component Wells Fargo & Company (NYSE:WFC) will unveil its latest earnings today, October 17, 2011. Wells Fargo provides financial services in mainly wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance and commercial finance.

Wells Fargo & Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 73 cents per share, a rise of 21.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 70 cents. Between one and three months ago, the average estimate moved up. It has risen from 72 cents during the last month. For the year, analysts are projecting net income of $2.80 per share, a rise of 23.9% from last year.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the second quarter, it reported profit of 70 cents per share versus a mean estimate of 69 cents. Two quarters ago, it reported net income of 67 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $20.25 billion in revenue this quarter, a decline of 3% from the year ago quarter. Analysts are forecasting total revenue of $81.15 billion for the year, a decline of 4.8% from last year’s revenue of $85.21 billion.

Analyst Ratings: Analysts are bullish on this stock with 18 analysts rating it as a buy, one rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, profit rose 28.9% to $3.95 billion (70 cents a share) from $3.06 billion (55 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 5.7% to $22.09 billion from $23.42 billion.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 47.6% in the first quarter and 20.9% in the fourth quarter of the last fiscal year.

Revenue has fallen in the past four quarters. Revenue declined 5.8% in the first quarter from the year earlier, dropped 6% in fourth quarter of the last fiscal year from the year-ago quarter and 7.5% in the third quarter of the last fiscal year.

Competitors to Watch: Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), U.S. Bancorp (NYSE:USB), PNC Financial Services (NYSE:PNC), SunTrust Banks, Inc. (NYSE:STI), KeyCorp (NYSE:KEY), Goldman Sachs Group, Inc. (NYSE:GS), Regions Financial Corp. (NYSE:RF), and Morgan Stanley (NYSE:MS).

Stock Price Performance: During September 13, 2011 to October 14, 2011, the stock price had risen $2.31 (9.4%) from $24.36 to $26.67. The stock price saw one of its best stretches over the last year between November 26, 2010 and December 3, 2010 when shares rose for six-straight days, rising 9% (+$2.38) over that span. It saw one of its worst periods between July 26, 2011 and August 2, 2011 when shares fell for six-straight days, falling 6.2% (-$1.78) over that span. Shares are down $4.32 (-13.94%) year to date.

(Source: Xignite Financials)

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