Wall Street analysts expect PNC Financial Services Group Inc (NYSE:PNC) to post earnings of $1.74 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for PNC Financial Services Group’s earnings. The highest EPS estimate is $2.15 and the lowest is $1.44. PNC Financial Services Group posted earnings per share of $2.94 in the same quarter last year, which would indicate a negative year-over-year growth rate of 40.8%. The company is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, October 14th.
On average, analysts expect that PNC Financial Services Group will report full year earnings of $13.54 per share for the current year, with EPS estimates ranging from $13.35 to $13.93. For the next fiscal year, analysts anticipate that the business will report earnings of $6.92 per share, with EPS estimates ranging from $6.15 to $8.55. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover PNC Financial Services Group.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($2.78). PNC Financial Services Group had a return on equity of 5.78% and a net margin of 35.52%. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the business earned $2.88 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis.
Several research analysts have recently commented on PNC shares. Wells Fargo & Company boosted their price target on PNC Financial Services Group from $121.00 to $148.00 in a research report on Friday, June 5th. Odeon Capital Group upgraded shares of PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, September 11th. Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services Group in a report on Wednesday, July 15th. Wolfe Research began coverage on PNC Financial Services Group in a research note on Friday, July 31st. They set an “underperform” rating for the company. Finally, Morgan Stanley lifted their target price on shares of PNC Financial Services Group from $98.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $122.92.
Shares of NYSE:PNC opened at $106.93 on Wednesday. The stock has a market cap of $45.39 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 4.71 and a beta of 1.26. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.89. PNC Financial Services Group has a 52-week low of $79.41 and a 52-week high of $161.79. The business’s 50 day moving average is $110.03 and its 200 day moving average is $105.30.
Hedge funds have recently added to or reduced their stakes in the company. Atria Investments LLC acquired a new stake in shares of PNC Financial Services Group in the second quarter worth approximately $3,356,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of PNC Financial Services Group in the second quarter valued at about $2,893,000. Alliance Wealth Management Group purchased a new position in shares of PNC Financial Services Group in the second quarter worth about $208,000. Neuberger Berman Group LLC boosted its position in PNC Financial Services Group by 10.5% during the second quarter. Neuberger Berman Group LLC now owns 1,030,656 shares of the financial services provider’s stock worth $108,417,000 after acquiring an additional 97,641 shares during the last quarter. Finally, WFA of San Diego LLC purchased a new stake in PNC Financial Services Group during the 2nd quarter valued at about $721,000. 79.48% of the stock is owned by institutional investors and hedge funds.
PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
See Also: How a Strangle Strategy is different from a Straddle Strategy
Get a free copy of the Zacks research report on PNC Financial Services Group (PNC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PNC Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PNC Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.