Is Wells Fargo (WFC) a 'Buy' Ahead of Its Upcoming Earnings Announcement?

Wells Fargo, the 15th largest global bank by total assets, is expected to report fourth-quarter earnings results on Wednesday before the opening bell. A Zacks Rank #3 (Hold) stock, Wells Fargo surpassed earnings estimates in each of the past four quarters. But with financials off to a rocky start this earnings season following mixed results out of JPMorgan Chase, is Wells Fargo a buy prior to tomorrow’s release?Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Analysts anticipate the company to post a profit of $1.66 per share, reflecting a 16.9% improvement versus the same quarter in the prior year. Estimates for the quarter have remained steady over the past 60 days. Revenues are projected to rise 6.01% to $21.6 billion.The banking giant has delivered a trailing four-quarter average earnings surprise of 7.5%. Wells Fargo WFC raised its dividend last year amid an enviable capital position and strong liquidity.Our proprietary Zacks Earnings ESP indicator does not conclusively predict another earnings beat. Investors would be wise to exercise caution ahead of the upcoming announcement.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wells Fargo & Company (WFC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks