Wells Fargo & Co reports results for the quarter ended March 31 - Earnings Summary

• Wells Fargo & Co WFC.N reported quarterly adjusted earnings of $1.33​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of $1.26. The mean expectation of eighteen analysts for the quarter was for earnings of $1.24 per share. Wall Street expected results to range from $1.16 to $1.36 per share.

• Revenue fell 3.4% to $20.15 billion from a year ago; analysts expected $20.75 billion.

• Wells Fargo & Co's reported EPS for the quarter was $1.39​.

• The company reported quarterly net income of $4.62 billion.

• Wells Fargo & Co shares had fallen by 12.1% this quarter and lost 10.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 4% in the last three months.​

• In the last 30 days, nine analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Wells Fargo & Co is $80.00

This summary was machine generated from LSEG data April 11 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)