Zacks: Analysts Expect The PNC Financial Services Group, Inc. (NYSE:PNC) Will Post Earnings of $3.52 Per Share

Analysts predict that The PNC Financial Services Group, Inc. (NYSE:PNC) will report earnings of $3.52 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for The PNC Financial Services Group’s earnings, with the highest EPS estimate coming in at $4.13 and the lowest estimate coming in at $3.06. The PNC Financial Services Group reported earnings of $3.39 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The firm is expected to announce its next earnings report before the market opens on Friday, October 15th.

According to Zacks, analysts expect that The PNC Financial Services Group will report full-year earnings of $14.80 per share for the current financial year, with EPS estimates ranging from $12.89 to $16.90. For the next financial year, analysts forecast that the company will report earnings of $14.25 per share, with EPS estimates ranging from $12.92 to $15.55. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover The PNC Financial Services Group.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.34). The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the previous year, the business earned $8.40 EPS. The business’s revenue was up 14.5% compared to the same quarter last year.

Several equities analysts have recently weighed in on PNC shares. Compass Point increased their price target on The PNC Financial Services Group from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, May 18th. Oppenheimer set a $189.50 price target on The PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, July 16th. Wolfe Research upgraded shares of The PNC Financial Services Group from an “underperform” rating to an “outperform” rating and increased their price objective for the stock from $194.00 to $252.00 in a research note on Friday, July 2nd. Evercore ISI began coverage on shares of The PNC Financial Services Group in a research report on Wednesday, June 2nd. They set an “outperform” rating for the company. Finally, Odeon Capital Group downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday, July 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $184.20.

PNC stock traded up $2.53 on Wednesday, hitting $190.88. The company had a trading volume of 41,853 shares, compared to its average volume of 1,775,648. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. The PNC Financial Services Group has a 12-month low of $101.58 and a 12-month high of $203.88. The stock has a market cap of $81.10 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 0.51 and a beta of 1.40. The stock’s 50-day simple moving average is $188.07 and its 200 day simple moving average is $185.96.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 5th. Investors of record on Friday, July 16th were given a dividend of $1.25 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Thursday, July 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.62%. The PNC Financial Services Group’s dividend payout ratio is currently 78.62%.

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 4,200 shares of the stock in a transaction dated Wednesday, July 21st. The shares were sold at an average price of $184.16, for a total transaction of $773,472.00. Following the completion of the transaction, the executive vice president now owns 47,625 shares of the company’s stock, valued at approximately $8,770,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,575 shares of company stock valued at $845,141 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of PNC. Cypress Point Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $25,000. Paragon Wealth Strategies LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. Better Money Decisions LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Financial Advantage Inc. increased its position in shares of The PNC Financial Services Group by 50.7% during the 2nd quarter. Financial Advantage Inc. now owns 743 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 250 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at $35,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

About The PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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Earnings History and Estimates for The PNC Financial Services Group (NYSE:PNC)

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