Zacks: Analysts Expect PNC Financial Services Group Inc (NYSE:PNC) Will Post Quarterly Sales of $4.41 Billion

Wall Street brokerages expect PNC Financial Services Group Inc (NYSE:PNC) to post sales of $4.41 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for PNC Financial Services Group’s earnings. The lowest sales estimate is $4.40 billion and the highest is $4.43 billion. PNC Financial Services Group posted sales of $4.29 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The firm is expected to issue its next earnings results on Friday, April 10th.

According to Zacks, analysts expect that PNC Financial Services Group will report full year sales of $17.98 billion for the current financial year, with estimates ranging from $17.62 billion to $18.10 billion. For the next year, analysts expect that the business will report sales of $18.44 billion, with estimates ranging from $17.75 billion to $18.79 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow PNC Financial Services Group.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.05. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.48 billion. PNC Financial Services Group had a net margin of 24.83% and a return on equity of 10.92%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 earnings per share.

A number of research firms have recently commented on PNC. Bank of America raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $144.00 to $178.00 in a research note on Thursday, January 9th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Wednesday, January 8th. Odeon Capital Group began coverage on shares of PNC Financial Services Group in a research note on Monday, November 25th. They set a “hold” rating for the company. Royal Bank of Canada cut shares of PNC Financial Services Group from a “top pick” rating to an “outperform” rating and set a $155.00 target price for the company. in a research note on Monday, December 9th. Finally, Nomura reissued a “hold” rating and set a $155.00 target price on shares of PNC Financial Services Group in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $158.18.

Shares of PNC stock traded down $4.99 on Monday, reaching $148.81. 2,234,698 shares of the company were exchanged, compared to its average volume of 1,994,013. The company has a market cap of $68.48 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.66 and a beta of 1.14. The business has a 50-day moving average price of $153.67 and a 200 day moving average price of $146.58. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 0.91. PNC Financial Services Group has a 1 year low of $118.70 and a 1 year high of $161.79.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Friday, January 17th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $4.60 dividend on an annualized basis and a yield of 3.09%. PNC Financial Services Group’s payout ratio is presently 40.39%.

In related news, EVP Joseph E. Rockey sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $155.00, for a total transaction of $1,550,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael J. Hannon sold 4,178 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $151.50, for a total transaction of $632,967.00. Following the transaction, the executive vice president now owns 55,711 shares in the company, valued at $8,440,216.50. The disclosure for this sale can be found here. Insiders have sold 44,178 shares of company stock worth $6,771,967 over the last 90 days. 0.37% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Solstein Capital LLC acquired a new position in PNC Financial Services Group in the 4th quarter valued at about $25,000. West Oak Capital LLC boosted its holdings in PNC Financial Services Group by 99.0% in the 4th quarter. West Oak Capital LLC now owns 201 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Hoey Investments Inc. acquired a new position in PNC Financial Services Group in the 4th quarter valued at about $32,000. Liberty Wealth Management LLC boosted its holdings in PNC Financial Services Group by 112.8% in the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 123 shares during the last quarter. Finally, Savior LLC acquired a new position in PNC Financial Services Group in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.

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.

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

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