Stock Price Targets in Spotlight: Wells Fargo & Company (NYSE:WFC), Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

June 24, 2017

Wells Fargo & Company (NYSE:WFC) shares have a current ABR (average broker recommendation) of 2.65. This recommendation is offered by Zacks Research. The rating lands on a sliding numerical scale from 1 to 5. A recommendation of 5 would indicate a Strong Sell, and a 1 would signify a Strong Buy. The mean rating may help provide a general sense of analyst sentiment on company shares.

Sell-side analysts taken into consideration by Zacks have also provided price target estimates on shares of Wells Fargo & Company (NYSE:WFC). The highest current target is $65. The lowest price target out of the polled analysts is presently $44. The consensus target price is currently noted at $55.25. Analysts may employ various techniques to help predict future stock price levels.

On the earnings front, Wells Fargo & Company (NYSE:WFC) is expected to post quarterly earnings per share of $1.03. This is the current consensus figure provided by Zacks. Investors and analysts will be looking for the company to next post earnings on or around 2017-07-14. Wells Fargo & Company (NYSE:WFC) most recently reported quarterly EPS of $1 for the quarter ending 2017-03-31. The gap between the actual and the projected estimate leading up to earnings created a surprise factor of 3.09%.

According to data provided by Zacks Research, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has a consensus target price of $27.578 on the stock. Out of the polled analysts providing targets, the high is currently $34, while the low is resting at $21. Analyst price targets may vary depending on the individual method used to calculate the estimate.
Turning to earnings, analysts are expecting Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to post a current quarter EPS of $-0.3. This consensus number is compiled by Zacks Research. For the period ending on 2017-03-31, the company reported EPS for the quarter of $-0.42. The resulting surprise factor from the difference between the reported number and the consensus estimate going into earnings was 4.55%. After a company reports earnings, the stock may see increased activity. The next earnings report date is scheduled on or near 2017-07-27.
In terms of analyst ratings, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has a current ABR of 1.81. This average broker recommendation is given by Zacks using a scale from 1 to 5. According to this scale, a rating of 1 or 2 would indicate a Buy, and a rating of 4 or 5 would signify a Sell recommendation. A 3 would indicate a Hold on the stock.

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By DR Staff Writer

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