The PNC Financial Services Group, Inc (PNC) closed at $123.28 in the latest trading session, marking a -0.24% move from the prior day. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 1.54%.
Heading into today, shares of the company had gained 6.37% over the past month, outpacing the Finance sector's gain of 2.29% and the S&P 500's gain of 4.14% in that time.
The PNC Financial Services Group, Inc will be looking to display strength as it nears its next earnings release, which is expected to be July 18, 2023. On that day, The PNC Financial Services Group, Inc is projected to report earnings of $3.35 per share, which would represent a year-over-year decline of 2.05%. Our most recent consensus estimate is calling for quarterly revenue of $5.47 billion, up 6.94% from the year-ago period.
PNC's full-year Zacks Consensus Estimates are calling for earnings of $13.96 per share and revenue of $22.06 billion. These results would represent year-over-year changes of 0% and +4.47%, respectively.
Investors should also note any recent changes to analyst estimates for The PNC Financial Services Group, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.83% lower. The PNC Financial Services Group, Inc currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, The PNC Financial Services Group, Inc is holding a Forward P/E ratio of 8.85. This represents a premium compared to its industry's average Forward P/E of 7.64.
It is also worth noting that PNC currently has a PEG ratio of 1.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PNC's industry had an average PEG ratio of 1.16 as of yesterday's close.
The Banks - Major Regional industry is part of the Finance sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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