Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Closed-End Funds Declare Monthly Dividends

[Business Wire] – The Wells Fargo Income Opportunities Fund , the Wells Fargo Multi-Sector Income Fund , and the Wells Fargo Utilities and High Income Fund have each announced a dividend declaration. Read more on this. Wells Fargo & Company (WFC) , with a current value of $255.78B, started the session at $49.29. Looking at today’s trading action, the company’s one day range from $49.17 to $50.25 with its 52-week range being $46.88 to $58.77. WFC shares are currently priced at 11.38x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 13.40x forward p/e ratio. The company pays shareholders $1.50 per share annually in dividends, yielding 3.09%. According to a consensus of 28 analysts, the earnings estimate of $1.00 per share would be $0.04 worse than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.30, which would be a $0.15 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $21.76 Billion. If reported, that would be a 2.26% increase over the year-ago quarter. In terms of ratings, Susquehanna upgraded WFC from Neutral to Positive (Jan 20, 2016). Previously, Keefe Bruyette upgraded WFC from Mkt Perform to Outperform. With the above information in mind, readers should note that the average price target is $57.92, which is 17.51% above where the stock opened this morning. See more in (NYSE:WFC) Similar Articles: Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Enters Agreement with Zurich to Sell Crop Insurance Business Stock Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Eyes Metro Park for New Commercial Hub in Central NJ Market Update: Wells Fargo & Co (NYSE:WFC) – Wells Fargo Advantage Closed-End Funds Declare Monthly Dividends
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