Financial services

Zacks: Analysts Expect PNC Financial Services Group, Inc. (NYSE:PNC) to Post Quarterly Sales of $5.13 Billion


Brokers expect The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) to report $5.13 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts provided earnings estimates for The PNC Financial Services Group, with the highest sales estimate at $5.31 billion and the lowest estimate at $4.99 billion. PNC Financial Services Group reported sales of $4.67 billion in the same quarter last year, indicating a positive year-over-year growth rate of 9.9%. The company is due to announce its next results on Monday, January 1.

According to Zacks, analysts expect PNC Financial Services Group to report annual revenue of $20.72 billion in the current fiscal year, with estimates ranging from $20.13 billion to $20.90 billion. of dollars. For the next fiscal year, analysts expect the company to report sales of $22.62 billion, with estimates ranging from $22.09 billion to $23.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts who provide coverage for financial services group PNC.

PNC Financial Services Group (NYSE:PNC – Get Rating) last released quarterly earnings data on Thursday, April 14. The financial services provider reported EPS of $3.23 for the quarter, beating the consensus estimate of $2.78 by $0.45. The PNC Financial Services group achieved a net margin of 26.14% and a return on equity of 12.43%. The company posted revenue of $4.69 billion for the quarter, versus a consensus estimate of $4.72 billion. In the same period a year earlier, the company had earned earnings per share of $4.10. The company’s quarterly revenue increased 11.2% year over year.

The PNC has been the subject of several research reports. Zacks Investment Research downgraded shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a price target of $221.00 for the stock. in a research note on Thursday, January 20. Credit Suisse Group raised its price target on shares of PNC Financial Services Group from $203.00 to $207.00 and gave the company a “neutral” rating in a Wednesday, Jan. 19 research note. StockNews.com launched coverage on PNC Financial Services Group stocks in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Piper Sandler cut her price target on PNC Financial Services Group shares from $215.00 to $201.00 and set a “neutral” rating on the stock in a Friday, April 1 research note. Finally, Raymond James cut his price target on PNC Financial Services Group shares from $215.00 to $210.00 and set an “outperform” rating on the stock in a Monday, April 18 research note. . One financial analyst gave the stock a sell rating, eleven gave the company a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, financial services group PNC currently has an average rating of “Hold” and an average price target of $219.53.

NYSE: PNC opened at $166.62 on Monday. The PNC Financial Services Group has a one-year low of $164.10 and a one-year high of $228.14. The company has a market capitalization of $69.72 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.36 and a beta of 1.24. The company’s fifty-day moving average price is $182.28 and its two-hundred-day moving average price is $198.02. The company has a debt ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.78.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 5. Shareholders of record on Wednesday, April 13 received a dividend of $1.50. The ex-dividend date was Tuesday, April 12. This represents a dividend of $6.00 on an annualized basis and a dividend yield of 3.60%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $1.25. PNC Financial Services Group’s dividend payout ratio is 50.76%.

In other news, Executive Vice Chairman Michael P. Lyons sold 5,500 shares in a trade dated Monday, March 14. The shares were sold at an average price of $182.59, for a total value of $1,004,245.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, EVP Guild Deborah sold 1,257 shares in a trade dated Tuesday, May 3. The stock was sold at an average price of $170.56, for a total transaction of $214,393.92. Following completion of the transaction, the executive vice president now directly owns 23,360 shares of the company, valued at approximately $3,984,281.60. The disclosure of this sale can be found here. 0.34% of the shares are currently held by company insiders.

A number of hedge funds and other institutional investors have recently changed their stock holdings. Quantinno Capital Management LP increased its stake in The PNC Financial Services Group by 3.0% in the third quarter. Quantinno Capital Management LP now owns 1,686 shares of the financial services provider valued at $330,000 after buying 49 additional shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in The PNC Financial Services Group by 0.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,197 shares of the financial services provider valued at $2,386,000 after purchasing 51 additional shares during the period. Gradient Investments LLC increased its position in The PNC Financial Services Group by 12.0% during the 4th quarter. Gradient Investments LLC now owns 476 shares of the financial services provider valued at $95,000 after buying 51 additional shares during the period. Impax Asset Management Group plc increased its position in The PNC Financial Services Group by 0.3% during the third quarter. Impax Asset Management Group plc now owns 15,612 shares of the financial services provider valued at $3,054,000 after buying an additional 52 shares during the period. Finally, Manchester Capital Management LLC increased its position in The PNC Financial Services Group by 1.5% during the 4th quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider valued at $732,000 after buying 53 additional shares during the period. Institutional investors and hedge funds hold 83.54% of the company’s shares.

About PNC Financial Services Group (Get an evaluation)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Earnings history and estimates for PNC Financial Services Group (NYSE:PNC)



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