Wells Fargo & Co Stock Buy Recommendation Reiterated (WFC)
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- The revenue growth greatly exceeded the industry average of 29.9%. Since the same quarter one year prior, revenues slightly increased by 5.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The stock has not only risen over the past year, it has done so at a faster pace than the S&P 500, reflecting the earnings growth and other positive factors similar to those we have cited here. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- WELLS FARGO & CO has improved earnings per share by 22.2% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, WELLS FARGO & CO increased its bottom line by earning $2.82 versus $2.21 in the prior year. This year, the market expects an improvement in earnings ($3.35 versus $2.82).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 21.8% when compared to the same quarter one year prior, going from $4,055.00 million to $4,937.00 million.
- Net operating cash flow has significantly increased by 60.46% to $14,808.00 million when compared to the same quarter last year. In addition, WELLS FARGO & CO has also vastly surpassed the industry average cash flow growth rate of -7.30%.
--Written by a member of TheStreet Ratings Staff. FREE for a limited time only: Get TheStreet Ratings #1 Stock Report NOW!
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