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Market Update (NYSE:WFC): LGBT Americans Optimistic About Planning for Future, Says Wells Fargo Survey

[Business Wire] – One year after the federal ruling in favor of marriage equality, same-sex couples report experiencing a positive shift in their overall quality of life. According to a new survey from Wells Fargo & Company of Lesbian, Gay, Bisexual and Transgender Americans, 75% feel marriage makes them more confident in planning for their future. Read more on this. Wells Fargo & Company (WFC) , currently valued at $245.27B, began trading this morning at $48.42. Looking at today’s market, WFC one day range is $48.22 to $48.62 with its 52-week range being $44.50 to $58.77. Wells Fargo (WFC) shares are currently priced at 11.81x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.14x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.52 per share annually in dividends, yielding 3.18%. In a review of the consensus earnings estimate this quarter, 31 sell-side analysts are looking at $1.01 per share, which would be $0.02 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $4.07, which would be a $0.08 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $22.17 Billion. If reported, that would be a 3.99% increase over the year-ago quarter. More recently, Raymond James downgraded WFC from Outperform to Mkt Perform (Jul 7, 2016). Previously, Piper Jaffray downgraded WFC from Neutral to Underweight. The average price target for WFC shares by the analysts covering it is $53.89, which is 11.30% above where the stock opened. See more in (NYSE:WFC) Similar Articles: Company Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Hosts National Housing Panel, Shares Annual Homeownership Survey Results Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Closed-End Funds Declare Monthly Dividends Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Commercial Real Estate Hires Industry Veteran Jeff Miller
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